Bill > A09557

This bill increases the income thresholds for eligibility for the senior citizen and disabled person property tax exemptions. The bill amends the Real Property Tax Law to raise the maximum income levels that seniors and disabled individuals can have to qualify for the property tax exemption. The changes apply to any local law, resolution, or ordinance amended or adopted on or after the effective date of the act. The state will reimburse municipal corporations for the difference in the amount of real property tax revenue abated due to the increased income thresholds.