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S01168 Summary:

Amd 425, RPT L
Amends the school tax relief (STAR) exemption base figure to be on a sliding scale determined by affiliated income; amends the maximum amount for the parcel's affiliated income from five hundred thousand dollars to three hundred thousand dollars.
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S01168 Text:

                STATE OF NEW YORK
                               2017-2018 Regular Sessions
                    IN SENATE
                                     January 6, 2017
        Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
          printed to be committed to the Committee on Local Government
        AN ACT to amend the real property tax law, in relation to the school tax
          relief (STAR) exemption
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1. Clause (B) of subparagraph (vi) of paragraph (b) of subdi-
     2  vision 2 of section 425 of the  real  property  tax  law,  as  added  by
     3  section  1  of part D-1 of chapter 57 of the laws of 2007, is amended to
     4  read as follows:
     5    (B) The base figure for the basic  STAR  exemption  shall  be  [thirty
     6  thousand dollars.] in accordance with the following schedule:
     8  TO PARAGRAPH (b-1) OF
     9  SUBDIVISION 3 OF THIS SECTION                     BASE FIGURE
    10  More than $200,000 but
    11    less than $300,000                              $30,000
    12  More than $100,000 but
    13    less than $200,000                              $40,000
    14  Less than $100,000                                $50,000
    15    § 2. Paragraph (b-1) of subdivision 3 of section 425 of the real prop-
    16  erty tax law, as added by section 1 of part FF of chapter 57 of the laws
    17  of 2010, is amended to read as follows:
    18    (b-1)  Income.  For  final assessment rolls to be used for the levy of
    19  taxes for the two thousand eleven-two thousand twelve  school  year  and
    20  thereafter, the parcel's affiliated income may be no greater than [five]
    21  three  hundred  thousand  dollars,  as determined by the commissioner of
    22  taxation and finance pursuant to section one  hundred  seventy-one-u  of
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.

        S. 1168                             2
     1  the  tax law, in order to be eligible for the basic exemption authorized
     2  by this section. As used herein, the term "affiliated income" shall mean
     3  the combined income of all of the  owners  of  the  parcel  who  resided
     4  primarily  thereon  on  the  applicable  taxable status date, and of any
     5  owners' spouses residing primarily  thereon.  For  exemptions  on  final
     6  assessment  rolls  to be used for the levy of taxes for the two thousand
     7  eleven-two thousand twelve  school  year,  affiliated  income  shall  be
     8  determined  based  upon  the  parties'  incomes  for the income tax year
     9  ending in two thousand nine. In each subsequent school year, the  appli-
    10  cable  income  tax year shall be advanced by one year. The term "income"
    11  as used herein shall have the same meaning as  in  subdivision  four  of
    12  this section.
    13    § 3. This act shall take effect immediately.
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