Golden Law Inceases Senior Citizen Real Property Tax Exemption Income Eligibility

Brooklyn- State Senator Martin J. Golden (R-C, Brooklyn), the Chairman of the Senate Aging Committee, is announcing that Governor George Pataki has signed into law legislation, S. 5813-A, that allows New York City the option to increase the income eligibility for the senior citizen real property tax exemption, making more seniors eligible and thus helping to maintain aging in place throughout New York City.

The new law would allow the New York City Council to adopt a measure that would increase the income eligibility by $1,000 each year, peaking at $29,000 beginning on July 1, 2009. Senator Golden is urging the New York City Council to make such action a priority on behalf of New York City’s older adults.

Senator Golden stated, “Senior citizens across the State are shouldering an increasing amount of the property taxes each and every year. For many of these seniors, especially those on fixed incomes, this burden may become overwhelming and may force seniors into selling their homes and moving out of New York. This legislation allows New York City the ability to raise the maximum income eligibility limit for the Senior Citizen Real Property Tax Exemption program.”

Golden continued, “As the Chairman of the Senate Aging Committee, I have focused my agenda on creating a lifestyle for seniors that is more independent. Being able to afford to live in your own home, the place you raised your family, for many seniors is the most important component to their independence. Our senior citizens laid the foundation and built our City. We must allow them to maintain the homes they have built for themselves and their families.”