Bill > S01764

This bill raises the income eligibility threshold for property tax abatements for senior citizens and disabled residents in New York State from $50,000 to $75,000, effective July 1, 2025. The bill specifically amends two sections of the real property tax law, one for households headed by individuals 62 years or older and another for households with a disabled head of household. Under the current law, tax abatements are not granted if the combined household income exceeds certain thresholds, which have incrementally increased over the years. The new provision allows for a significant increase in the income limit, recognizing the financial challenges faced by seniors and disabled residents. When calculating income for those who have recently retired, the bill permits adjusting the income by excluding salary or earnings and projecting retirement income for the entire tax year. This change aims to provide more financial relief to seniors and disabled residents by expanding their eligibility for property tax abatements, potentially helping them maintain their homes and manage living expenses more effectively.

Health and Social Services

https://www.nysenate.gov/legislation/bills/2025/S1764