New York State Assembly

Bill No.:  

 
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A06362 Summary:

BILL NO	A06362A
SAME AS	SAME AS S08893
SPONSOR	Weprin (MS)
COSPNSR	Williams, Alvarez
MLTSPNSR	Colton
Amd §467, RPT L
Authorizes localities to provide for an additional real property tax exemption for senior citizens who meet the income eligibility limits and other criteria to the extent of sixty-five percent of the assessed valuation of such real property.

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A06362 Actions:

BILL NO	A06362A
04/05/2023	referred to real property taxation
01/03/2024	referred to real property taxation
03/21/2024	amend and recommit to real property taxation
03/21/2024	print number 6362a
03/26/2024	reported referred to ways and means

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A06362 Committee Votes:

Committee:REAL PROPERTY TAXATION   Chair:Williams      
DATE:03/26/2024AYE/NAY:8/0  Action: Favorable refer to committee Ways and Means        
Williams
Aye
Miller
Aye
Dickens
Excused
Tague
Excused
Eichenstein
Aye
Slater
Aye
Mamdani
Aye
Alvarez
Aye
Shimsky
Aye
Berger
Aye

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A06362 Floor Votes:

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A06362 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         6362--A
 
                               2023-2024 Regular Sessions
 
                   IN ASSEMBLY
 
                                      April 5, 2023
                                       ___________
 
        Introduced  by  M. of A. WEPRIN -- Multi-Sponsored by -- M. of A. COLTON
          -- read once and referred to the Committee on Real  Property  Taxation
          --  recommitted  to the Committee on Real Property Taxation in accord-
          ance with Assembly Rule  3,  sec.  2  --  committee  discharged,  bill
          amended,  ordered reprinted as amended and recommitted to said commit-
          tee
 
        AN ACT to amend the real property tax law, in relation to  providing  an
          additional real property tax exemption for certain senior citizens
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Paragraph (b) of subdivision 1 of section 467 of  the  real
     2  property  tax  law  is amended by adding a new subparagraph 4 to read as
     3  follows:
     4    (4) Notwithstanding the maximum exemption percentage permitted  pursu-
     5  ant  to  paragraph  (a) of this subdivision, any local law, ordinance or
     6  resolution adopted pursuant to this section may be amended, or  a  local
     7  law, ordinance or resolution may be adopted, to create additional annual
     8  income categories and corresponding exemption percentages for households
     9  making  less than the maximum income eligibility level of such municipal
    10  corporation as provided in this subdivision (represented in the  herein-
    11  below schedule as M) pursuant to the following schedule:
 
    12  ANNUAL INCOME          PERCENTAGE OF ASSESSED VALUATION
    13                               EXEMPT FROM TAXATION
    14  Less than (M) but
    15  more than (M- $1,000)                  50%
 
    16  Less than (M- $1,000) but
    17  more than (M- $2,000)                  55%

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10369-02-4
        A. 6362--A                          2
 
     1  Less than (M- $2,000) but              60%
     2  more than (M- $3,000); and
 
     3  Less than (M- $3,000)                  65%
     4    § 2. This act shall take effect immediately and shall apply to taxable
     5  years beginning on and after January 1, 2024.

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