Assembly Bill A6392

2023-2024 Legislative Session

Caps the amount of taxes a senior has to pay on his or her real property at the amount such individual paid in the year in which he or she turned 65

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee

  • 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

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2023-A6392 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Add §498, RPT L

2023-A6392 (ACTIVE) - Summary

Caps the amount of taxes a senior has to pay on his or her real property at the amount such individual paid in the year in which he or she turned 65; provides that the individual claiming the limitation must be the owner of the property and must reside in the property for at least seventy-five percent of the year.

2023-A6392 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6392
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               April 6, 2023
                                ___________
 
 Introduced  by M. of A. SEPTIMO -- read once and referred to the Commit-
   tee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to the limitation
   of taxation on certain seniors
 
   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 498 to read as follows:
   § 498. LIMITATION OF TAXATION ON CERTAIN SENIORS.  1.  THE  AMOUNT  OF
 TAXES  PAID  ON  REAL PROPERTY BY QUALIFIED SENIORS IN SUBSEQUENT YEARS,
 INCLUDING SCHOOL TAXES, SHALL NOT EXCEED THE AMOUNT PAID BY  SUCH  INDI-
 VIDUAL IN THE YEAR IN WHICH HE OR SHE TURNS SIXTY-FIVE YEARS OF AGE.
   2.  FOR  PURPOSES OF THIS SECTION, A QUALIFIED SENIOR IS AN INDIVIDUAL
 WHO IS:
   A. THE OWNER OF THE SUBJECT PROPERTY; AND
   B. RESIDES AT THE PROPERTY FOR AT LEAST TWO HUNDRED SEVENTY-FOUR  DAYS
 IN ANY GIVEN YEAR; AND
   C. IS AT LEAST SIXTY-FIVE YEARS OF AGE.
   §  2.  This  act  shall take effect immediately and shall apply to all
 real property tax assessments occurring on or after such effective date.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09820-01-3

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