Allows localities the option to exclude income from any disability pension or benefit in computation of income for purposes of determining eligibility for the partial real property tax exemption granted to persons 65 years of age or over.
STATE OF NEW YORK
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7077
2025-2026 Regular Sessions
IN ASSEMBLY
March 20, 2025
___________
Introduced by M. of A. PRETLOW -- read once and referred to the Commit-
tee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to qualifications
of certain real property owners, sixty-five years of age or over, for
partial exemption from real property taxation
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 467 of the real property tax law is amended by
2 adding a new subdivision 12 to read as follows:
3 12. Any local law or ordinance adopted pursuant to paragraph (a) of
4 subdivision one and paragraph (a) of subdivision three of this section
5 may be amended, or a local law or ordinance may be adopted to allow a
6 local law to offer an exemption to an individual or owners of property
7 based on income earned during the income tax year immediately preceding
8 the date of making the application, that may exclude income earned from
9 a disability pension or benefits that may exceed the sum of three thou-
10 sand dollars up to fifteen thousand dollars as may be provided by the
11 local law, ordinance or resolution adopted pursuant to this subdivision.
12 § 2. This act shall take effect on the first of January next succeed-
13 ing the date on which it shall have become a law and shall apply to
14 assessment rolls prepared on the basis of taxable status dates occurring
15 on or after such date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD10712-01-5
