Assembly Bill A3698

2025-2026 Legislative Session

Relates to exemptions from real property taxes for senior citizens

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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2025-A3698 (ACTIVE) - Details

See Senate Version of this Bill:
S5175
Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §467, RPT L
Versions Introduced in 2023-2024 Legislative Session:
A6362, S8893

2025-A3698 (ACTIVE) - Summary

Authorizes localities to provide for an additional real property tax exemption for senior citizens who meet the income eligibility limits and other criteria to the extent of sixty-five percent of the assessed valuation of such real property.

2025-A3698 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3698
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 30, 2025
                                ___________
 
 Introduced  by  M.  of  A.  WEPRIN,  WILLIAMS, ALVAREZ, PHEFFER AMATO --
   Multi-Sponsored by -- M. of A. COLTON -- read once and referred to the
   Committee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to  providing  an
   additional real property tax exemption for certain senior citizens

   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  is amended by adding a new subparagraph 4 to read as
 follows:
   (4) NOTWITHSTANDING THE MAXIMUM EXEMPTION PERCENTAGE PERMITTED  PURSU-
 ANT  TO  PARAGRAPH  (A) OF THIS SUBDIVISION, ANY LOCAL LAW, ORDINANCE OR
 RESOLUTION ADOPTED PURSUANT TO THIS SECTION MAY BE AMENDED, OR  A  LOCAL
 LAW, ORDINANCE OR RESOLUTION MAY BE ADOPTED, TO CREATE ADDITIONAL ANNUAL
 INCOME CATEGORIES AND CORRESPONDING EXEMPTION PERCENTAGES FOR HOUSEHOLDS
 MAKING  LESS THAN THE MAXIMUM INCOME ELIGIBILITY LEVEL OF SUCH MUNICIPAL
 CORPORATION AS PROVIDED IN THIS SUBDIVISION (REPRESENTED IN THE  HEREIN-
 BELOW SCHEDULE AS M) PURSUANT TO THE FOLLOWING SCHEDULE:
 
 ANNUAL INCOME          PERCENTAGE OF ASSESSED VALUATION
                              EXEMPT FROM TAXATION
 LESS THAN (M) BUT
 MORE THAN (M- $1,000)                  50%
 
 LESS THAN (M- $1,000) BUT
 MORE THAN (M- $2,000)                  55%
 
 LESS THAN (M- $2,000) BUT              60%
 MORE THAN (M- $3,000); AND
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06109-01-5
 A. 3698                             2

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