Bill > S02291

This bill amends the real property tax law to expand an existing assessment exemption for living quarters constructed for a parent or grandparent. Currently, the exemption was limited to living quarters constructed or reconstructed after a specific effective date. The proposed change would remove this temporal restriction, allowing the tax exemption to apply to living quarters constructed or reconstructed before the original effective date, as long as at least one parent or grandparent maintains a primary residence in those living quarters. In practical terms, this means property owners who have already built or renovated living spaces for their parents or grandparents can now potentially qualify for the tax exemption, retroactively extending the benefits of the original law to existing structures. The bill would take effect immediately upon enactment.

Budget and Finance, Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S2291