Bill > S00803

This bill allows a town with a population between 69,000 and 69,500 as of the 2020 census to create a local law establishing a homestead exemption for real property taxes. The homestead exemption, which would be similar to the basic school tax relief (STAR) exemption, provides eligible property owners with a tax break of up to $50,000 in full property value. To qualify, homeowners must apply using a form prescribed by the tax commissioner and file it with the town assessor by the town's taxable status date. The exemption would be uniform for all eligible properties and is designed to provide property tax relief to homeowners in the specified town. The bill takes effect immediately and applies to assessment rolls based on taxable status dates occurring on or after its effective date, effectively expanding a previous law that was specifically targeted at the town of Southampton to potentially include other similarly sized towns.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S803