A 1805: Raises the income eligibility for senior citizens and disabled residents to seventy-five thousand dollars.

  
  STATE OF NEW YORK ________________________________________________________________________ 1805 2025-2026 Regular Sessions  IN ASSEMBLY January 14, 2025 ___________ Introduced by M. of A. REYES -- read once and referred to the Committee on Aging AN ACT to amend the real property tax law, in relation to raising the income eligibility threshold for senior citizens and disabled resi- dents The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph a of subdivision 3 of section 467-b of the real 2 property tax law, as amended by section 1 of part U of chapter 55 of the 3 laws of 2014, is amended to read as follows: 4 a. for a dwelling unit where the head of the household is a person 5 sixty-two years of age or older, no tax abatement shall be granted if 6 the combined income of all members of the household for the income tax 7 year immediately preceding the date of making application exceeds four 8 thousand dollars, or such other sum not more than twenty-five thousand 9 dollars beginning July first, two thousand five, twenty-six thousand 10 dollars beginning July first, two thousand six, twenty-seven thousand 11 dollars beginning July first, two thousand seven, twenty-eight thousand 12 dollars beginning July first, two thousand eight, twenty-nine thousand 13 dollars beginning July first, two thousand nine, [and] fifty thousand 14 dollars beginning July first, two thousand fourteen, and seventy-five 15 thousand dollars beginning July first, two thousand twenty-five, as may 16 be provided by the local law, ordinance or resolution adopted pursuant 17 to this section, provided that when the head of the household retires 18 before the commencement of such income tax year and the date of filing 19 the application, the income for such year may be adjusted by excluding 20 salary or earnings and projecting [his or her] such individual's retire- 21 ment income over the entire period of such year. 22 § 2. Paragraph a of subdivision 3 of section 467-b of the real proper- 23 ty tax law, as separately amended by chapters 188 and 205 of the laws of 24 2005, is amended to read as follows: EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03176-01-5 
 A. 1805 2 1 a. for a dwelling unit where the head of the household is a person 2 sixty-two years of age or older, no tax abatement shall be granted if 3 the combined income of all members of the household for the income tax 4 year immediately preceding the date of making application exceeds four 5 thousand dollars, or such other sum not more than twenty-five thousand 6 dollars beginning July first, two thousand five, twenty-six thousand 7 dollars beginning July first, two thousand six, twenty-seven thousand 8 dollars beginning July first, two thousand seven, twenty-eight thousand 9 dollars beginning July first, two thousand eight, [and] twenty-nine 10 thousand dollars beginning July first, two thousand nine, and seventy- 11 five thousand dollars beginning July first, two thousand twenty-five, as 12 may be provided by the local law, ordinance or resolution adopted pursu- 13 ant to this section, provided that when the head of the household 14 retires before the commencement of such income tax year and the date of 15 filing the application, the income for such year may be adjusted by 16 excluding salary or earnings and projecting [his or her] such individ- 17 ual's retirement income over the entire period of such year. 18 § 3. Paragraph b of subdivision 3 of section 467-b of the real proper- 19 ty tax law, as amended by section 1 of chapter 129 of the laws of 2014, 20 is amended to read as follows: 21 b. for a dwelling unit where the head of the household qualifies as a 22 person with a disability pursuant to subdivision five of this section, 23 no tax abatement shall be granted if the combined income for all members 24 of the household for the current income tax year exceeds fifty thousand 25 dollars beginning July first, two thousand fourteen, and seventy-five 26 thousand dollars beginning July first, two thousand twenty-five, as may 27 be provided by the local law, ordinance or resolution adopted pursuant 28 to this section. 29 § 4. Paragraph b of subdivision 3 of section 467-b of the real proper- 30 ty tax law, as amended by section 2 of chapter 129 of the laws of 2014, 31 is amended to read as follows: 32 b. for a dwelling unit where the head of the household qualifies as a 33 person with a disability pursuant to subdivision five of this section, 34 no tax abatement shall be granted if the combined income for all members 35 of the household for the current income tax year exceeds fifty thousand 36 dollars beginning July first, two thousand fourteen, and seventy-five 37 thousand dollars beginning July first, two thousand twenty-five, as may 38 be provided by the local law, ordinance or resolution adopted pursuant 39 to this section. 40 § 5. This act shall take effect immediately; provided that: 41 (a) the amendments made to paragraph a of subdivision 3 of section 42 467-b of the real property tax law made by section one of this act shall 43 be subject to the expiration and reversion of such paragraph when upon 44 such date the provisions of section two of this act shall take effect; 45 and 46 (b) the amendments made to paragraph b of subdivision 3 of section 47 467-b of the real property tax law made by section three of this act 48 shall be subject to the expiration and reversion of such paragraph when 49 upon such date the provisions of section four of this act shall take 50 effect.