S01062 Summary:

BILL NOS01062A
 
SAME ASNo Same As
 
SPONSORPERSAUD
 
COSPNSRADDABBO, BIAGGI, MONTGOMERY, MYRIE, SANDERS
 
MLTSPNSR
 
Add §467-l, RPT L
 
Grants a tax deferment for persons sixty-five years of age or over who own and occupy real property in a city having a population of one million or more persons.
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S01062 Actions:

BILL NOS01062A
 
01/10/2019REFERRED TO AGING
05/20/2019AMEND AND RECOMMIT TO AGING
05/20/2019PRINT NUMBER 1062A
01/08/2020REFERRED TO AGING
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S01062 Committee Votes:

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S01062 Floor Votes:

There are no votes for this bill in this legislative session.
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S01062 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         1062--A
 
                               2019-2020 Regular Sessions
 
                    IN SENATE
 
                                    January 10, 2019
                                       ___________
 
        Introduced  by  Sens. PERSAUD, ADDABBO, BIAGGI, MONTGOMERY -- read twice
          and ordered printed, and when printed to be committed to the Committee
          on Aging -- committee discharged, bill amended, ordered  reprinted  as
          amended and recommitted to said committee
 
        AN ACT to amend the real property tax law, in relation to granting a tax
          deferment for persons sixty-five years of age or older who reside in a
          city having a population of one million or more persons
 
          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 467-l to read as follows:
     3    § 467-l. Deferral of real property tax for persons sixty-five years of
     4  age  or  older  residing in a city having a population of one million or
     5  more persons. 1. (a) Any city of one million or  more  persons  may,  by
     6  local  law, grant a tax deferment for qualifying real property owned and
     7  occupied by one or more persons, each of whom is sixty-five years of age
     8  or older, or qualifying real property owned and occupied by husband  and
     9  wife  or  by  siblings, one of whom is sixty-five years of age or older.
    10  For purposes of this section,  "sibling"  shall  mean  a  brother  or  a
    11  sister, whether related through half blood, whole blood or adoption.
    12    (b) For the purposes of this section, "qualifying real property" shall
    13  mean  a  one, two or three family residence, a farm dwelling or residen-
    14  tial property held in condominium or cooperative form of  ownership.  If
    15  the  property  is not an eligible type of property, but a portion of the
    16  property is partially used by the owner as  a  primary  residence,  that
    17  portion  which is so used shall be entitled to the deferment provided by
    18  this section; provided that in no event shall the deferment  exceed  the
    19  assessed  value  attributable to that portion. The primary residence and
    20  occupancy requirement shall  be  waived  if  the  qualifying  person  or
    21  persons  are absent from the property due to medical reasons or institu-
    22  tionalization.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00915-02-9

        S. 1062--A                          2
 
     1    (c) Application for such deferment shall be made annually by the owner
     2  or owners of such real property. No application for such deferment shall
     3  be granted to any owner with a total income exceeding fifty-eight  thou-
     4  sand  four hundred dollars. For purposes of this section, "income" shall
     5  mean  the  gross  income of the owner or owners of such property for the
     6  income tax year immediately preceding the date of application  for  such
     7  deferment  and  shall  include  social security and retirement benefits,
     8  interest, dividends, total gain from the sale or exchange of  a  capital
     9  asset which may be offset by a loss from the sale or exchange of a capi-
    10  tal  asset in the same income tax year, net rental income, earned income
    11  from salary or earnings and net income from self-employment,  but  shall
    12  not  include a return of capital, gifts or inheritances. The age of each
    13  owner of such property shall be the age of such person at the  commence-
    14  ment  of  the city's fiscal year for which an application for tax defer-
    15  ment is made.
    16    2. Such deferment shall equal the total per centum  of  the  deferment
    17  base.  For  purposes  of  this  section, "deferment base" shall mean any
    18  increase in real property tax from the tax  year  immediately  preceding
    19  the year in which such person reached the age of sixty-five years to the
    20  tax year for which an application for tax deferment is made.
    21    3.  The  amount  of  taxes  deferred shall accrue against such person,
    22  without interest, and shall, on the  date  such  deferment  is  granted,
    23  constitute  a  lien  against  such  property in favor of the appropriate
    24  municipal corporation. The owner or  owners  of  such  property,  having
    25  received  such  deferment  pursuant  to  this section, may, at any time,
    26  terminate the deferment and remove the resultant lien on  said  property
    27  by paying in full the cumulative amount of such lien.
    28    4.  A  tax  deferment  granted  to a husband and wife pursuant to this
    29  section, once granted, shall not be  rescinded  solely  because  of  the
    30  death  of  the  older spouse so long as the surviving spouse is at least
    31  sixty-two years of age. In the event that the surviving spouse  is  less
    32  than sixty-two years of age, such surviving spouse shall be eligible for
    33  the  tax  deferment  upon  reaching  sixty-two years of age provided all
    34  other eligibility requirements are met.
    35    5. Any person who has already attained the age of sixty-five years  or
    36  older  is  eligible  for  such  deferral  and shall be entitled to a tax
    37  deferment based on the tax year immediately preceding the effective date
    38  of this section.
    39    6. The deferment period will expire when  either  no  eligible  person
    40  remains  in the property, or when the beneficiary of the deferment fails
    41  to reapply for such deferment; provided, however, that the  municipality
    42  must provide a notice sixty days prior to the annual reapplication dead-
    43  line via United States Postal Service to the beneficiary's primary resi-
    44  dence. Upon the expiration of the deferment period, the municipal corpo-
    45  ration  may  collect upon the lien utilizing its standard procedures for
    46  tax liens and tax sales pursuant to chapter three of title eleven of the
    47  administrative code of the city of New York.
    48    § 2. This act shall take effect on the one hundred eightieth day after
    49  it shall have become a law.
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