NY State Senate Bill 2025-S5175

Current Bill Status - In Senate Committee Aging 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 19, 2025	referred to aging

co-Sponsors

2025-S5175 (ACTIVE) - Details

See Assembly Version of this Bill:: A3698
Current Committee:: Senate Aging
Law Section:: Real Property Tax Law
Laws Affected:: Amd §467, RPT L
Versions Introduced in 2023-2024 Legislative Session:: S8893, A6362

2025-S5175 (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-S5175 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S5175

SPONSOR: COMRIE
 
TITLE OF BILL:

An act to amend the real property tax law, in relation to providing an
additional real property tax exemption for certain senior citizens

 
PURPOSE OR GENERAL IDEA OF BILL:

The purpose of this bill is to provide relief from the burden of
increasing real properly taxes (RPT) for certain income eligible elderly
individuals.

 
SUMMARY OF SPECIFIC PROVISIONS:

This bill would offer municipalities in New York the option to provide
older New Yorkers who are homeowners with low incomes a greater level of
RPT relief than can presently be offered through the existing structure
of the Senior Citizen RPT Exemption Program. Municipalities would be
granted the option to offer senior citizens with incomes below the maxi-
mum income eligibility level additional exemption benefits up to a

sixty-five percent. This bill would not impact the income eligibility
limits for exemptions currently available.

 
EFFECTS OF PRESENT LAW WHICH THIS BILL WOULD ALTER:

This bill would amend section 467 of the real property tax law.

 
JUSTIFICATION:

Senior citizens living on fixed incomes across the State are shouldering
an increasing amount of the real property tax burden each year. Since
1966, the maximum percentage of exemption local governments have been
able to offer senior citizens has remained at 50%.

This proposal would authorize localities the option to offer a RPT
exemption of up to 65* to seniors with incomes below the "maximum income
eligibility level" set by such locality.

Elderly homeowners with incomes less than the current maximum income
eligibility limit are most at risk of premature dislocation from their
homes as a result of increasing RPT rates and require the expansion of
benefits as proposed in this bill.

 
PRIOR LEGISLATIVE HISTORY:

2024: S8893 Comrie/ A6362 Weprin

04/05/23 referred to real property taxation- Weprin

01/03/24 referred to real property taxation- Weprin

 
FISCAL IMPLICATIONS:

None to state

 
EFFECTIVE DATE:
Immediately

2025-S5175 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5175
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             February 19, 2025
                                ___________
 
 Introduced  by  Sens.  COMRIE, RHOADS, ROLISON -- read twice and ordered
   printed, and when printed to be committed to the Committee on Aging
 
 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
 S. 5175                             2
 
 LESS THAN (M- $3,000)                  65%

   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2025.

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Senate Bill S5175

Sponsored By

Current Bill Status - In Senate Committee Aging Committee

co-Sponsors

2025-S5175 (ACTIVE) - Details

2025-S5175 (ACTIVE) - Summary

2025-S5175 (ACTIVE) - Sponsor Memo

2025-S5175 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S5175

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Sponsored By

Leroy Comrie

Current Bill Status - In Senate Committee Aging Committee

co-Sponsors

Steven D. Rhoads

Rob Rolison

2025-S5175 (ACTIVE) - Details

2025-S5175 (ACTIVE) - Summary

2025-S5175 (ACTIVE) - Sponsor Memo

2025-S5175 (ACTIVE) - Bill Text download pdf

Comments