Bill > S09256

This bill amends the administrative code of New York City to increase the maximum income eligibility for the senior homeowners' exemption, which provides a property tax exemption to eligible senior citizens based on their income and the assessed value of their home. Specifically, the bill changes the income threshold from a maximum of $58,400 to $100,001 for the 5% exemption tier, meaning seniors with an annual income up to $100,001 will now be eligible for this partial property tax relief, whereas previously the limit was significantly lower. This change aims to make the exemption accessible to a broader range of senior homeowners.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S9256