S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6533
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                              March 17, 2025
                                ___________
 
 Introduced  by Sen. STAVISKY -- 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 tax  abatement
   for  rent-controlled  and rent regulated property occupied by and real
   property owned by senior citizens or persons with disabilities

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraphs a and b of subdivision 3 of section 467-b of the
 real  property tax law, paragraph a as amended by section 1 of part U of
 chapter 55 of the laws of 2014 and paragraph b as amended by chapter 129
 of the laws of 2014, are amended to read as follows:
   a. for a dwelling unit where the head of the  household  is  a  person
 sixty-two  years  of  age or older, no tax abatement shall be granted if
 the combined income of all members of the household for the  income  tax
 year  immediately  preceding the date of making application exceeds four
 thousand dollars, or such other sum not more than  twenty-five  thousand
 dollars  beginning  July  first,  two thousand five, twenty-six thousand
 dollars beginning July first, two thousand  six,  twenty-seven  thousand
 dollars  beginning July first, two thousand seven, twenty-eight thousand
 dollars beginning July first, two thousand eight,  twenty-nine  thousand
 dollars  beginning  July  first,  two  thousand nine, and fifty thousand
 dollars beginning July first,  two  thousand  fourteen,  AND  FIFTY-FIVE
 THOUSAND  DOLLARS BEGINNING JULY FIRST, TWO THOUSAND TWENTY-FIVE, as may
 be provided by the local law, ordinance or resolution  adopted  pursuant
 to  this  section,  provided that when the head of the household retires
 before the commencement of such income tax year and the date  of  filing
 the  application,  the income for such year may be adjusted by excluding
 salary or earnings and projecting [his or her] SUCH HEAD OF  HOUSEHOLD'S
 retirement income over the entire period of such year.
   b.  for a dwelling unit where the head of the household qualifies as a
 person with a disability pursuant to subdivision five of  this  section,
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00305-01-5
              

 S. 6533                             2
 
 no tax abatement shall be granted if the combined income for all members
 of  the household for the current income tax year exceeds fifty thousand
 dollars beginning July first,  two  thousand  fourteen,  AND  FIFTY-FIVE
 THOUSAND  DOLLARS BEGINNING JULY FIRST, TWO THOUSAND TWENTY-FIVE, as may
 be provided by the local law, ordinance or resolution  adopted  pursuant
 to this section.
   § 2. Subparagraph (i) of paragraph (a) of subdivision 3 of section 467
 of the real property tax law, as amended by section 2 of part K of chap-
 ter 59 of the laws of 2023, is amended to read as follows:
   (i) if the income of the owner or the combined income of the owners of
 the property for the applicable income tax year exceeds the sum of three
 thousand dollars, or such other sum not less than three thousand dollars
 nor more than [fifty] FIFTY-FIVE thousand dollars, as may be provided by
 the local law, ordinance or resolution adopted pursuant to this section.
   §  3.  Subparagraph  (i)  of paragraph (a) of subdivision 5 of section
 459-c of the real property tax law, as amended by section 8 of part K of
 chapter 59 of the laws of 2023, is amended to read as follows:
   (i) if the income of the owner or the combined income of the owners of
 the property for the applicable income tax year exceeds the sum of three
 thousand dollars, or such other sum not less than three thousand dollars
 nor more than [fifty] FIFTY-FIVE thousand dollars, as may be provided by
 the local law or resolution adopted pursuant to this section.
   § 4. This act shall take effect immediately; provided,  however,  that
 the  amendments  to paragraphs a and b of subdivision 3 of section 467-b
 of the real property tax law made by section one of this act  shall  not
 affect  the  expiration of such paragraphs and shall be deemed to expire
 therewith.