S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6850
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 21, 2019
                                ___________
 
 Introduced by M. of A. WILLIAMS -- read once and referred to the Commit-
   tee on Aging
 
 AN ACT to amend the real property tax law, in relation to granting a tax
   deferment for persons sixty-five years of age or older who reside in a
   city having a population of one million or more persons

   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-l to read as follows:
   § 467-L. DEFERRAL OF REAL PROPERTY TAX FOR PERSONS SIXTY-FIVE YEARS OF
 AGE  OR  OLDER  RESIDING IN A CITY HAVING A POPULATION OF ONE MILLION OR
 MORE PERSONS. 1. (A) ANY CITY OF ONE MILLION OR  MORE  PERSONS  MAY,  BY
 LOCAL LAW, GRANT A TAX DEFERMENT FOR REAL PROPERTY OWNED AND OCCUPIED BY
 ONE  OR  MORE PERSONS, EACH OF WHOM IS SIXTY-FIVE YEARS OF AGE OR OLDER,
 OR REAL PROPERTY OWNED AND OCCUPIED BY HUSBAND AND WIFE OR BY  SIBLINGS,
 ONE  OF  WHOM  IS SIXTY-FIVE YEARS OF AGE OR OLDER. FOR PURPOSES OF THIS
 SECTION, "SIBLING" SHALL MEAN A BROTHER OR  A  SISTER,  WHETHER  RELATED
 THROUGH HALF BLOOD, WHOLE BLOOD OR ADOPTION.
   (B) APPLICATION FOR SUCH DEFERMENT SHALL BE MADE ANNUALLY BY THE OWNER
 OR OWNERS OF SUCH REAL PROPERTY. NO APPLICATION FOR SUCH DEFERMENT SHALL
 BE  GRANTED TO ANY OWNER WITH A TOTAL INCOME EXCEEDING FIFTY-EIGHT THOU-
 SAND FOUR HUNDRED DOLLARS. FOR PURPOSES OF THIS SECTION, "INCOME"  SHALL
 MEAN  THE  GROSS  INCOME OF THE OWNER OR OWNERS OF SUCH PROPERTY FOR THE
 INCOME TAX YEAR IMMEDIATELY PRECEDING THE DATE OF APPLICATION  FOR  SUCH
 DEFERMENT  AND  SHALL  INCLUDE  SOCIAL SECURITY AND RETIREMENT BENEFITS,
 INTEREST, DIVIDENDS, TOTAL GAIN FROM THE SALE OR EXCHANGE OF  A  CAPITAL
 ASSET WHICH MAY BE OFFSET BY A LOSS FROM THE SALE OR EXCHANGE OF A CAPI-
 TAL  ASSET IN THE SAME INCOME TAX YEAR, NET RENTAL INCOME, EARNED INCOME
 FROM SALARY OR EARNINGS AND NET INCOME FROM SELF-EMPLOYMENT,  BUT  SHALL
 NOT  INCLUDE A RETURN OF CAPITAL, GIFTS OR INHERITANCES. THE AGE OF EACH
 OWNER OF SUCH PROPERTY SHALL BE THE AGE OF SUCH PERSON AT THE  COMMENCE-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD00915-01-9

 A. 6850                             2
 
 MENT  OF  THE CITY'S FISCAL YEAR FOR WHICH AN APPLICATION FOR TAX DEFER-
 MENT IS MADE.
   2.  SUCH  DEFERMENT  SHALL EQUAL THE TOTAL PER CENTUM OF THE DEFERMENT
 BASE. FOR PURPOSES OF THIS SECTION,  "DEFERMENT  BASE"  SHALL  MEAN  THE
 INCREASE  IN  REAL  PROPERTY  TAX  ATTRIBUTABLE  TO  THE INCREASE IN THE
 ASSESSED VALUE OF SUCH PROPERTY FROM THE TAX YEAR IMMEDIATELY  PRECEDING
 THE YEAR IN WHICH SUCH PERSON REACHED THE AGE OF SIXTY-FIVE YEARS TO THE
 TAX YEAR FOR WHICH AN APPLICATION FOR TAX DEFERMENT IS MADE.
   3.  THE  AMOUNT  OF  TAXES  DEFERRED SHALL ACCRUE AGAINST SUCH PERSON,
 WITHOUT INTEREST, AND SHALL, ON THE  DATE  SUCH  DEFERMENT  IS  GRANTED,
 CONSTITUTE  A  LIEN  AGAINST  SUCH  PROPERTY IN FAVOR OF THE APPROPRIATE
 MUNICIPAL CORPORATION. THE OWNER OR  OWNERS  OF  SUCH  PROPERTY,  HAVING
 RECEIVED  SUCH  DEFERMENT  PURSUANT  TO  THIS SECTION, MAY, AT ANY TIME,
 TERMINATE THE DEFERMENT AND REMOVE THE RESULTANT LIEN ON  SAID  PROPERTY
 BY PAYING IN FULL THE CUMULATIVE AMOUNT OF SUCH LIEN.
   4.  A  TAX  DEFERMENT  GRANTED  TO A HUSBAND AND WIFE PURSUANT TO THIS
 SECTION, ONCE GRANTED, SHALL NOT BE  RESCINDED  SOLELY  BECAUSE  OF  THE
 DEATH  OF  THE  OLDER SPOUSE SO LONG AS THE SURVIVING SPOUSE IS AT LEAST
 SIXTY-TWO YEARS OF AGE. IN THE EVENT THAT THE SURVIVING SPOUSE  IS  LESS
 THAN SIXTY-TWO YEARS OF AGE, SUCH SURVIVING SPOUSE SHALL BE ELIGIBLE FOR
 THE  TAX  DEFERMENT  UPON  REACHING  SIXTY-TWO YEARS OF AGE PROVIDED ALL
 OTHER ELIGIBILITY REQUIREMENTS ARE MET.
   5. ANY PERSON WHO HAS ALREADY ATTAINED THE AGE OF SIXTY-FIVE YEARS  OR
 OLDER  IS  ELIGIBLE  FOR  SUCH  DEFERRAL  AND SHALL BE ENTITLED TO A TAX
 DEFERMENT BASED ON THE TAX YEAR IMMEDIATELY PRECEDING THE EFFECTIVE DATE
 OF THIS SECTION.
   § 2. This act shall take effect on the one hundred eightieth day after
 it shall have become a law.