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Bill > A08949
NY A08949
NY A08949Expands the applicability of the assessment exemption for living quarters for parent or grandparent to include living quarters constructed or reconstructed before the effective date of the section providing such exemption.
summary
Introduced
07/16/2025
07/16/2025
In Committee
07/16/2025
07/16/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 General Assembly
Bill Summary
AN ACT to amend the real property tax law, in relation to expanding the applicability of the assessment exemption for living quarters for parent or grandparent
AI Summary
This bill modifies the real property tax law to expand a property tax assessment exemption for living quarters constructed for a parent or grandparent. Previously, the exemption only applied to living quarters constructed or reconstructed after the effective date of the original law. The bill removes this time restriction, meaning the tax exemption will now apply to living quarters constructed or reconstructed both before and after the original law's effective date. The key condition remains that at least one parent or grandparent must maintain a primary residence in these living quarters to qualify for the tax exemption. This change will allow more property owners to benefit from the tax break when they have created additional living space for their parents or grandparents, regardless of when the construction or reconstruction took place. The bill is intended to provide broader tax relief for families who create multigenerational housing arrangements.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
referred to real property taxation (on 07/16/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://www.nysenate.gov/legislation/bills/2025/A8949 |
BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A08949&term=2025&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A08949 |
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