STATE OF NEW YORK
________________________________________________________________________
9256
IN SENATE
February 18, 2026
___________
Introduced by Sen. SCARCELLA-SPANTON -- read twice and ordered printed,
and when printed to be committed to the Committee on Housing,
Construction and Community Development
AN ACT to amend the administrative code of the city of New York, in
relation to the senior citizen homeowners' exemption
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 7 of section 11-245.3 of the administrative
2 code of the city of New York, as amended by local law number 140 of the
3 city of New York for the year 2017, is amended to read as follows:
4 7. Notwithstanding the maximum income exemption eligibility level
5 provided in subdivision three of this section, an exemption, subject to
6 all other provisions of this section, shall be granted as indicated in
7 the following schedule:
8 Annual Income Percentage Assessed Valuation
9 as of July 1, 2006 Exempt From Taxation
10 More than $26,000 but less than $27,000 45 per centum
11 $27,000 or more but less than $28,000 40 per centum
12 $28,000 or more but less than $29,000 35 per centum
13 $29,000 or more but less than $29,900 30 per centum
14 $29,900 or more but less than $30,800 25 per centum
15 $30,800 or more but less than $31,700 20 per centum
16 $31,700 or more but less than $32,600 15 per centum
17 $32,600 or more but less than $33,500 10 per centum
18 $33,500 or more but less than $34,400 5 per centum
19 Percentage Assessed Valuation
20 Annual Income as of July 1, 2007 Exempt From Taxation
21 More than $27,000 but less than $28,000 45 per centum
22 $28,000 or more but less than $29,000 40 per centum
23 $29,000 or more but less than $30,000 35 per centum
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13436-02-6
S. 9256 2
1 $30,000 or more but less than $30,900 30 per centum
2 $30,900 or more but less than $31,800 25 per centum
3 $31,800 or more but less than $32,700 20 per centum
4 $32,700 or more but less than $33,600 15 per centum
5 $33,600 or more but less than $34,500 10 per centum
6 $34,500 or more but less than $35,400 5 per centum
7 Percentage Assessed Valuation
8 Annual Income as of July 1, 2008 Exempt From Taxation
9 More than $28,000 but less than $29,000 45 per centum
10 $29,000 or more but less than $30,000 40 per centum
11 $30,000 or more but less than $31,000 35 per centum
12 $31,000 or more but less than $31,900 30 per centum
13 $31,900 or more but less than $32,800 25 per centum
14 $32,800 or more but less than $33,700 20 per centum
15 $33,700 or more but less than $34,600 15 per centum
16 $34,600 or more but less than $35,500 10 per centum
17 $35,500 or more but less than $36,400 5 per centum
18 Percentage Assessed Valuation
19 Annual Income as of July 1, 2009 Exempt From Taxation
20 More than $29,000 but less than $30,000 45 per centum
21 $30,000 or more but less than $31,000 40 per centum
22 $31,000 or more but less than $32,000 35 per centum
23 $32,000 or more but less than $32,900 30 per centum
24 $32,900 or more but less than $33,800 25 per centum
25 $33,800 or more but less than $34,700 20 per centum
26 $34,700 or more but less than $35,600 15 per centum
27 $35,600 or more but less than $36,500 10 per centum
28 $36,500 or more but less than $37,400 5 per centum
29 Percentage Assessed Valuation
30 Annual Income as of July 1, 2017 Exempt From Taxation
31 More than $50,000 but less than $51,000 45 per centum
32 $51,000 or more but less than $52,000 40 per centum
33 $52,000 or more but less than $53,000 35 per centum
34 $53,000 or more but less than $53,900 30 per centum
35 $53,900 or more but less than $54,800 25 per centum
36 $54,800 or more but less than $55,700 20 per centum
37 $55,700 or more but less than $56,600 15 per centum
38 $56,600 or more but less than $57,500 10 per centum
39 $57,500 or more but less than [$58,400] $100,001 5 per centum
40 § 2. This act shall take effect immediately.
