NY State Senate Bill 2025-S4586

Senate Bill S4586

2025-2026 Legislative Session

Permits a real property tax freeze to be granted to certain persons sixty-five years of age or older

download bill text pdf

Current Bill Status - In Senate Committee Local Government 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
Feb 07, 2025	referred to local government

2025-S4586 (ACTIVE) - Details

Current Committee:: Senate Local Government
Law Section:: Real Property Tax Law
Laws Affected:: Add §467-o, RPT L
Versions Introduced in 2023-2024 Legislative Session:: S6268

2025-S4586 (ACTIVE) - Summary

Permits persons sixty-five years of age or older to be granted a real property tax freeze in a city with a population of one million or more.

2025-S4586 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S4586

SPONSOR: PERSAUD
 
TITLE OF BILL:

An act to amend the real property tax law, in relation to permitting
persons sixty-five years of age or older to be granted a real property
tax freeze in a city with a population of one million or more

 
PURPOSE:

The purpose of this bill is to shield seniors from an increase in real
property taxes by freezing any increases. This will allow them to remain
in their homes should the assessed value of the property continue to
rise.

 
SUMMARY OF PROVISIONS:

Section 1 amends the real property tax law by adding a new section 467-o
that allows a city of one million or more to grant a real property tax
freeze for property owners 65 years of age or older, or property owned
and occupied by spouses or by siblings, one of whom is 65 years of age

or older. It defines "qualifying real property," state the application
shall be made yearly and shares that the threshold income limit is earn-
ings not exceeding $58,400 per year.

Section 2 outlines the effective date.

 
JUSTIFICATION:

Cities with a population of one million or more continue to experience
exponential population growth, which has led to an affordable housing
crisis in these metropolitan areas. As real property taxes have risen,
senior homeowners have become particularly vulnerable to shifts in the
housing market, especially those with fixed incomes that are unable to
absorb tax increases. This legislation would shield seniors from an
increase in real property taxes by freezing taxes at the amount at the
time of application. The state would receive the difference in the annu-
al increase, without interest, once the home is sold or when the senior
resident passes away. The senior would continue to pay the same real
property tax they paid when this bill is enacted, allowing them to main-
tain their budget in light of uncontrollable market forces. The tax
deferment for seniors will not result in a monetary loss for the state.
By allowing seniors to remain in their homes, they can maintain impor-
tant ties to the community, family and friends that they have developed
over decades of occupancy. The prospect of moving away from these long-
term support networks can be devastating to seniors. Seniors are
sustained by a strong sense of place and community, coupled with famili-
arity of certain locations. Often times, seniors tend to live in older
buildings that often requires repairs. Old houses in cities occupied by
the elderly are more likely to have physical problems than newer houses.

By deferring the increase in real property tax, seniors will be able to
maintain their homes and a safe living environment. In addition, the
recent rise in fuel costs is another example of an unforeseen situation
that seniors face. Many seniors live on a fixed income and cannot afford
a healthy standard of living when faced with these circumstances. This
deferment will ease some financial stress.

In 2017, the New York City Council enacted legislation (Local Law No.
140) which increased the maximum income level for the Senior Citizen
Homeowner's Exemption (SCHE) and Disabled Homeowner's Exemption (DHE)
program from $50,000 to $58,400. While this program offers property tax
relief for senior citizen homeowners, a tax deferral program, as
proposed in this legislation, will help senior homeowners avoid the
burden of rising property tax increases and enable them to remain in
their home.

 
LEGISLATIVE HISTORY:

2023-2024 (S6268) - referred to local government - this version grants a
tax assessment freeze rather than tax deferment but this has been
updated for 2025 to remove assessment freeze.

2021-2022(S103)- referred to aging

2019-2020: S1062-A referred to aging

2017-2018: S6929 referred to rules/cities

 
FISCAL IMPACT ON THE STATE:

To be determined.

 
EFFECTIVE DATE:'
This act shall take effect on the one hundred eightieth day after it
shall have become a law.

2025-S4586 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4586
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             February 7, 2025
                                ___________
 
 Introduced  by  Sen. PERSAUD -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to amend the real property tax law,  in  relation  to  permitting
   persons sixty-five years of age or older to be granted a real property
   tax freeze in a city with a population of one million 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-o to read as follows:
   §  467-O. REAL PROPERTY TAX FREEZE FOR PERSONS SIXTY-FIVE YEARS OF AGE
 OR OLDER. 1. (A) THE GOVERNING BOARD OF ANY CITY HAVING A POPULATION  OF
 ONE  MILLION  OR MORE MAY, BY LOCAL LAW, ORDINANCE OR RESOLUTION GRANT A
 REAL PROPERTY TAX FREEZE FOR QUALIFYING REAL PROPERTY OWNED AND OCCUPIED
 BY ONE OR MORE PERSONS, EACH OF WHOM  IS  SIXTY-FIVE  YEARS  OF  AGE  OR
 OLDER,  OR  QUALIFYING REAL PROPERTY OWNED AND OCCUPIED BY SPOUSES OR BY
 SIBLINGS, ONE OF WHOM IS SIXTY-FIVE YEARS OF AGE OR OLDER. FOR  PURPOSES
 OF  THIS  SECTION,  "SIBLING"  SHALL  MEAN  ANY SIBLING, WHETHER RELATED
 THROUGH HALF BLOOD, WHOLE BLOOD OR ADOPTION.
   (B) FOR THE PURPOSES OF THIS SECTION, "QUALIFYING REAL PROPERTY" SHALL
 MEAN A ONE, TWO OR THREE FAMILY RESIDENCE, A FARM DWELLING  OR  RESIDEN-
 TIAL PROPERTY HELD IN A CONDOMINIUM OR COOPERATIVE FORM OF OWNERSHIP AND
 LOCATED  IN THIS STATE. IF THE PROPERTY IS NOT AN ELIGIBLE TYPE OF PROP-
 ERTY, BUT A PORTION OF THE PROPERTY IS PARTIALLY USED BY THE OWNER AS  A
 PRIMARY  RESIDENCE,  THAT  PORTION WHICH IS SO USED SHALL BE ENTITLED TO
 THE REAL PROPERTY TAX FREEZE PROVIDED BY THIS SECTION; PROVIDED THAT  IN
 NO  EVENT  SHALL THE TAXES FOR SUCH PROPERTY BE FROZEN IN AN AMOUNT THAT
 EXCEEDS THE ASSESSED VALUE ATTRIBUTABLE TO  THAT  PORTION.  THE  PRIMARY
 RESIDENCE  AND  OCCUPANCY  REQUIREMENT SHALL BE WAIVED IF THE QUALIFYING
 PERSON OR PERSONS ARE ABSENT FROM THE PROPERTY DUE TO MEDICAL REASONS OR
 INSTITUTIONALIZATION.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08048-03-5
 S. 4586                             2

 
   (C) APPLICATION FOR A REAL PROPERTY TAX FREEZE SHALL BE MADE  ANNUALLY
 TO THE CITY BY THE OWNER OR OWNERS OF SUCH REAL PROPERTY. NO APPLICATION
 FOR  SUCH  REAL PROPERTY TAX FREEZE SHALL BE GRANTED TO ANY OWNER WITH A
 TOTAL INCOME EXCEEDING FIFTY-EIGHT THOUSAND 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 REAL PROPERTY TAX FREEZE AND
 SHALL INCLUDE SOCIAL SECURITY AND RETIREMENT BENEFITS,  INTEREST,  DIVI-
 DENDS, 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 CAPITAL 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 COMMENCEMENT OF THE
 CITY'S FISCAL YEAR FOR WHICH AN APPLICATION FOR SUCH REAL  PROPERTY  TAX
 FREEZE IS MADE.
   2. QUALIFYING REAL PROPERTY TAXES SHALL BE FROZEN IN THE AMOUNTS PAYA-
 BLE AT THE TIME SUCH APPLICATION FOR A PROPERTY TAX FREEZE IS MADE.
   3.  THE  AMOUNT OF PROPERTY TAXES THAT ARE FROZEN SHALL ACCRUE AGAINST
 SUCH PERSON, WITHOUT INTEREST, AND SHALL, ON THE DATE SUCH PROPERTY  TAX
 FREEZE  IS  GRANTED, CONSTITUTE A LIEN AGAINST SUCH PROPERTY IN FAVOR OF
 THE APPROPRIATE MUNICIPAL CORPORATION. THE OWNER OR OWNERS OF SUCH PROP-
 ERTY, HAVING RECEIVED SUCH PROPERTY TAX FREEZE PURSUANT TO THIS SECTION,
 MAY, AT ANY TIME, TERMINATE THE  PROPERTY  TAX  FREEZE  AND  REMOVE  THE
 RESULTANT  LIEN ON SAID PROPERTY BY PAYING IN FULL THE CUMULATIVE AMOUNT
 OF SUCH LIEN.
   4. A REAL PROPERTY TAX FREEZE GRANTED  TO  SPOUSES  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 REAL PROPERTY TAX  FREEZE  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 REAL PROPERTY TAX FREEZE AND SHALL  BE  ENTI-
 TLED  TO  A  REAL  PROPERTY TAX FREEZE BASED ON THE TAX YEAR IMMEDIATELY
 PRECEDING THE EFFECTIVE DATE OF THIS SECTION.
   6. THE FREEZE PERIOD SHALL  EXPIRE  WHEN  EITHER  NO  ELIGIBLE  PERSON
 REMAINS  IN THE PROPERTY, OR WHEN THE BENEFICIARY OF THE FREEZE FAILS TO
 REAPPLY FOR SUCH FREEZE; PROVIDED, HOWEVER, THAT THE CITY SHALL  PROVIDE
 A  NOTICE  SIXTY  DAYS  PRIOR  TO  THE ANNUAL REAPPLICATION DEADLINE VIA
 UNITED STATES POSTAL SERVICE TO THE BENEFICIARY'S PRIMARY RESIDENCE.
   7. UPON THE EXPIRATION OF THE PROPERTY TAX FREEZE PERIOD, THE LIEN PUT
 ON SUCH PROPERTY UNDER SUBDIVISION THREE OF THIS SECTION SHALL  BE  PAID
 BY  THE CURRENT OWNER OR OWNERS OF SUCH PROPERTY OR THE CITY MAY COLLECT
 UPON THE LIEN UTILIZING THE PROCEDURES FOR ENFORCEMENT OF COLLECTION  OF
 DELINQUENT TAXES PURSUANT TO ARTICLE ELEVEN OF THIS CHAPTER.
   8.  ANY  CONVICTION  OF HAVING MADE ANY WILLFUL FALSE STATEMENT IN THE
 APPLICATION FOR SUCH FREEZE, SHALL BE PUNISHABLE BY A FINE OF  NOT  MORE
 THAN  ONE  HUNDRED  DOLLARS AND SHALL DISQUALIFY THE APPLICANT OR APPLI-
 CANTS FROM FURTHER FREEZES FOR A PERIOD OF FIVE YEARS.
   § 2. This act shall take effect on the one hundred eightieth day after
 it shall have become a law.

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