Bill > A02436

This bill modifies an existing law to allow a town with a population between 69,000 and 69,500 (as determined by the 2020 census) to create a local law establishing a homestead exemption for property taxes. The homestead exemption would be similar to the Basic STAR (School Tax Relief) exemption, which provides tax relief for primary residential properties. Specifically, the exemption would be uniform for eligible properties and cannot exceed $50,000 in full value. Homeowners would need to apply for the exemption using a form prescribed by the commissioner of taxation and finance, which must be submitted to the town assessor by the town's taxable status date. The bill allows the town to implement this tax relief measure at its discretion, providing flexibility for local property tax management while maintaining consistent eligibility criteria based on the existing STAR exemption program.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A2436