Bill > A01781

This bill amends the real property tax law to expand the existing property tax exemption for seniors aged 65 and over to also include individuals who are totally and permanently disabled. Specifically, the bill allows municipalities to provide a 50% property tax exemption for real property owned by people who are either 65 years or older or totally and permanently disabled. Municipalities must adopt a local law, ordinance, or resolution to implement this exemption after holding a public hearing. The bill clarifies that the exemption can be granted to either seniors, those with total and permanent disabilities, or both categories of persons. The legislation also maintains existing provisions about property ownership, such as including properties owned by married couples or siblings where at least one owner meets the age or disability criteria. The term "sibling" is defined to include relationships established through half blood, whole blood, or adoption. The bill will take effect on the first day of January following its enactment, providing local governments with time to adjust their tax policies accordingly.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A1781