Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 16, 2011 |
enacting clause stricken |
Feb 10, 2011 |
referred to aging |
Assembly Bill A5015
2011-2012 Legislative Session
Sponsored By
HAYES
Archive: Last Bill Status - Stricken
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
William A. Barclay
Gary Finch
Donald R. Miller
Andrew Raia
multi-Sponsors
Robert Castelli
John Ceretto
James Conte
Brian F. Curran
2011-A5015 (ACTIVE) - Details
2011-A5015 (ACTIVE) - Summary
Provides that the real property tax assessment on property owned by a person 70 years of age or older may be capped at last year's assessment; such assessment shall not be increased as long as ownership remains the same; takes effect sixty days after enactment; requires that it must be adopted by entity selecting assessor.
2011-A5015 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5015 2011-2012 Regular Sessions I N A S S E M B L Y February 10, 2011 ___________ Introduced by M. of A. HAYES, BARCLAY, FINCH, D. MILLER, RAIA, SAYWARD -- Multi-Sponsored by -- M. of A. CASTELLI, CERETTO, CONTE, DUPREY, GIGLIO, HAWLEY, JORDAN, KOLB, MOLINARO, MONTESANO -- read once and referred to the Committee on Aging AN ACT to amend the real property tax law, in relation to capping real property assessments for persons seventy years of age or more THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The real property tax law is amended by adding a new section 467-g to read as follows: S 467-G. EXEMPTION FOR HOMEOWNERS SEVENTY YEARS OF AGE AND OLDER. 1. REAL PROPERTY OWNED IN WHOLE OR IN PART BY A PERSON SEVENTY YEARS OF AGE OR OLDER MAY, UPON APPLICATION THEREFOR, HAVE THE ASSESSMENT CAPPED AT THE FIGURE USED IN THE YEAR PRIOR TO THE YEAR IN WHICH THIS SECTION TAKES EFFECT OR IN THE YEAR PRIOR TO THE YEAR IN WHICH SUCH OWNERSHIP INTEREST IS ACQUIRED, WHICHEVER YEAR IS LATER IN TIME. APPLICATION SHALL BE MADE TO THE APPROPRIATE LOCAL ASSESSOR'S OFFICE UPON FORMS PROVIDED BY SUCH ASSESSOR. AS USED IN THIS SECTION, THE PHRASE "IN WHOLE OR IN PART" SHALL BE LIMITED TO AT LEAST AN UNDIVIDED FIFTY PERCENT INTEREST. THE PROVISIONS OF THIS SECTION ARE LIMITED TO PERSONS SEVENTY YEARS OF AGE OR OLDER WITH AN ANNUAL INCOME OF ONE HUNDRED THOUSAND DOLLARS OR LESS. THIS SECTION SHALL ONLY APPLY IF THE INDIVIDUAL OR BODY THAT SELECTS THE ASSESSOR SHALL ADOPT ITS APPLICATION. 2. A. IF THIS EXEMPTION IS ADOPTED, THE LOCAL ASSESSOR SHALL NOTIFY, OR CAUSE TO BE NOTIFIED, EACH PERSON OWNING RESIDENTIAL REAL PROPERTY IN THE JURISDICTION OF THE PROVISIONS OF THIS SECTION. THE PROVISIONS OF THIS SUBDIVISION MAY BE MET BY A NOTICE SENT TO SUCH PERSONS IN SUBSTAN- TIALLY THE FOLLOWING FORM: "RESIDENTIAL REAL PROPERTY MAY QUALIFY FOR A PARTIAL EXEMPTION FROM TAXES. TO RECEIVE SUCH EXEMPTION, QUALIFYING OWNERS MUST FILE AN APPLICATION WITH THEIR LOCAL ASSESSOR ON OR BEFORE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08727-01-1
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