Bill
Bill > S08954
NY S08954
NY S08954Increases the amount of income property owners may earn for the purpose of eligibility for the property tax exemption for persons over sixty-five years of age; increases such amount to $75,000.
summary
Introduced
04/02/2024
04/02/2024
In Committee
06/05/2024
06/05/2024
Crossed Over
06/05/2024
06/05/2024
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the real property tax law, in relation to increasing the amount of income property owners may earn for the purpose of eligibility for the property tax exemption for persons sixty-five years of age or over
AI Summary
This bill amends the Real Property Tax Law to increase the amount of income property owners aged 65 or older can earn and still be eligible for the property tax exemption. The bill raises the income limit from $50,000 to $75,000, allowing more senior citizens to qualify for this tax relief.
Committee Categories
Health and Social Services
Sponsors (2)
Last Action
referred to aging (on 06/05/2024)
Taxonomy
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Social Welfare
- ‐ Services for the Elderly and Senior Citizens
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2023/S8954 | 04/02/2024 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S08954&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S08954 | 04/02/2024 |
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