NY State Assembly Bill 2025-A3054

Assembly Bill A3054

2025-2026 Legislative Session

Increases the income thresholds for eligibility for the senior citizen and disabled person property tax exemptions

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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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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 23, 2025	referred to aging

2025-A3054 (ACTIVE) - Details

Current Committee:: Assembly Aging
Law Section:: Real Property Tax Law
Laws Affected:: Amd §§467 & 459-c, RPT L
Versions Introduced in 2023-2024 Legislative Session:: A9557

2025-A3054 (ACTIVE) - Summary

Increases the income thresholds for eligibility for the senior citizen and disabled person property tax exemptions; applies to any local law, resolution or ordinance amended or adopted on and after the effective date of this act.

2025-A3054 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3054
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 23, 2025
                                ___________
 
 Introduced by M. of A. LUNSFORD -- read once and referred to the Commit-
   tee on Aging
 
 AN  ACT  to  amend  the real property tax law, in relation to the senior
   citizen and disabled property owner exemption
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  Paragraph (b) of subdivision 1 of section 467 of the real
 property tax law, as amended by section 1 of part B of  chapter  686  of
 the laws of 2022, is amended to read as follows:
   (b)  (1)  Any  local  law, ordinance or resolution adopted pursuant to
 paragraph (a) of this subdivision may be amended, or a local law,  ordi-
 nance  or  resolution  may  be adopted, to provide an exemption so as to
 increase the maximum income eligibility level of such  municipal  corpo-
 ration  as provided in subdivision three of this section (represented in
 the hereinbelow schedule as M), to the extent provided in the  following
 schedule:
 
     ANNUAL INCOME                         PERCENTAGE ASSESSED VALUATION
                                           EXEMPT FROM TAXATION OR PILOT
 
 More than (M) but
    [less than (M+ $1,000)                          45 per centum
 (M+ $1,000 or more) but
    less than (M+ $2,000)                           40 per centum
 (M+ $2,000 or more) but]
    less than (M+ [$3,000]                          35 per centum
                   $10,000)
 [(M+ $3,000 or more) but
    less than (M+ $3,900)                           30 per centum
 (M+ $3,900 or more) but

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04443-01-5
 A. 3054                             2

    less than (M+ $4,800)                           25 per centum
 (M+ $4,800 or more) but
    less than (M+ $5,700)                          20 per centum]
 
   (2) Any local law, ordinance or resolution adopted pursuant to subpar-
 agraph  one  of this paragraph may be amended, or a local law, ordinance
 or resolution may be adopted, to provide an exemption so as to  increase
 the  maximum  income  eligibility level of such municipal corporation as
 provided in subdivision three of this section (represented in the  here-
 inbelow schedule as M), and as increased as provided for in such subpar-
 agraph one to the extent provided in the following schedule:
 
     ANNUAL INCOME                         PERCENTAGE ASSESSED VALUATION
                                           EXEMPT FROM TAXATION OR PILOT
 
 (M+ [$5,700] $10,000 or more) but
    less than (M+ [$6,600]                           15 per centum
                   $25,000)
 [(M+ $6,600 or more) but
    less than (M+ $7,500)                           10 per centum]
 
   (3) Any local law, ordinance or resolution adopted pursuant to subpar-
 agraphs  one  and  two of this paragraph may be amended, or a local law,
 ordinance or resolution may be adopted, to provide an exemption so as to
 increase the maximum income eligibility level of such  municipal  corpo-
 ration  as provided in subdivision three of this section (represented in
 the hereinbelow schedule as M), and as increased as provided for in such
 subparagraph one to the extent provided in the following schedule:
 
     ANNUAL INCOME                         PERCENTAGE ASSESSED VALUATION
                                           EXEMPT FROM TAXATION OR PILOT
 
 (M+ [$7,500] $25,000 or more)
    but less than (M+ [$8,400]                        5 per centum
                       $35,000)
 
   § 2. Paragraph (b) of subdivision 1 of section 459-c of the real prop-
 erty tax law, as amended by section 2 of part B of chapter  686  of  the
 laws of 2022, is amended to read as follows:
   (b)  Any  local law or resolution adopted pursuant to paragraph (a) of
 this subdivision may be amended, or a local law  or  resolution  may  be
 adopted,  to  provide  an exemption so as to increase the maximum income
 eligibility level of such municipal corporation as provided in  subdivi-
 sion  five  of  this section (represented in the hereinbelow schedule as
 M), to the extent provided in the following schedule:
   ANNUAL INCOME                         PERCENTAGE ASSESSED VALUATION
                                         EXEMPT FROM TAXATION OR PILOT
 More than (M) but
      [less than (M+ $1,000)                  45 per centum
 (M+ $1,000 or more) but
      less than (M+ $2,000)                   40 per centum
 (M+ $2,000 or more) but]
      less than (M+ [$3,000] $10,000)         35 per centum
 [(M+ $3,000 or more) but
      less than (M+ $3,900)                   30 per centum
 (M+ $3,900 or more) but
 A. 3054                             3

      less than (M+ $4,800)                   25 per centum
 (M+ $4,800 or more) but
      less than (M+ $5,700)                   20 per centum]
 (M+ [$5,700] $10,000 or more) but
      less than (M+ [$6,600] $25,000)         15 per centum
 [(M+ $6,600 or more) but
      less than (M+ $7,500)                   10 per centum]
 (M + [$7,500] $25,000 or more) but
      less than (M+ [$8,400] $35,000)         5 per centum
   § 3. The state shall, within an appropriation made available therefor,
 reimburse  municipal  corporations for the difference between the amount
 of real property tax revenue abated for the fiscal year of such  munici-
 pality that occurs after April 1, 2024 pursuant to the income thresholds
 established  pursuant  to the provisions  of this act, and the amount of
 real property tax revenue that would have been abated  for  such  period
 pursuant  to the income thresholds that were in effect immediately prior
 to the effective date of this act.
   § 4. This act shall take effect immediately and  shall  apply  to  any
 local  law,  resolution or ordinance amended or adopted on and after the
 effective date of this act.

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Assembly Bill A3054

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Sponsored By

LUNSFORD

Current Bill Status - In Assembly Committee

2025-A3054 (ACTIVE) - Details

2025-A3054 (ACTIVE) - Summary

2025-A3054 (ACTIVE) - Bill Text download pdf

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