Boyland, Cook, Hooper, Latimer, Pheffer, Sweeney, Titus
Add S496, RPT L
Caps the amount of taxes a senior has to pay on his or her real property at the amount such individual paid in the year in which he or she turned 70; provides that the individual claiming the limitation must be the owner of the property and must reside in the property for at least seventy-five percent of the year.
STATE OF NEW YORK
________________________________________________________________________
400
2011-2012 Regular Sessions
IN ASSEMBLY(Prefiled)
January 5, 2011
___________
Introduced by M. of A. GUNTHER, COLTON, PERRY -- Multi-Sponsored by --
M. of A. BOYLAND, COOK, HOOPER, LATIMER, PHEFFER, SWEENEY, TITUS --
read once and referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to the limitation
of taxation on certain seniors
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The real property tax law is amended by adding a new
2 section 496 to read as follows:
3 § 496. Limitation of taxation on certain seniors. 1. The amount of
4 taxes paid on real property by qualified seniors in subsequent years,
5 including school taxes, shall not exceed the amount paid by such indi-
6 vidual in the year in which he or she turns seventy years of age.
7 2. For purposes of this section, a qualified senior is an individual
8 who is:
9 a. the owner of the subject property; and
10 b. resides at the property for at least two hundred seventy-four days
11 in any given year; and
12 c. is at least seventy years of age.
13 § 2. This act shall take effect immediately and shall apply to all
14 real property tax assessments occurring on or after such effective date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD02081-01-1
