Bill > A00230

This bill proposes to increase income thresholds for tax abatements for senior citizens and persons with disabilities in rent-controlled and rent-regulated properties. Specifically, the bill raises the maximum income limit from fifty thousand to fifty-five thousand dollars for qualifying households, effective July first, two thousand twenty-five. For seniors aged 62 or older, the bill allows for adjustments in income calculation if the head of household has recently retired, permitting them to exclude salary or earnings and project retirement income. The bill affects multiple sections of the real property tax law, allowing local governments to adjust these income thresholds through local laws, ordinances, or resolutions. The changes aim to provide more flexible tax relief for elderly and disabled residents living in rent-controlled or rent-regulated housing, recognizing potential changes in income following retirement or due to disability. The bill takes effect immediately, but the specific amendments to income thresholds are designed to align with the July 2025 timeframe.

Health and Social Services

https://www.nysenate.gov/legislation/bills/2025/A230