A 2383: Relates to raising the income cap for senior citizens applying for the enhanced STAR property tax exemption to $120,000.

  
  STATE OF NEW YORK ________________________________________________________________________ 2383 2025-2026 Regular Sessions  IN ASSEMBLY January 16, 2025 ___________ Introduced by M. of A. GANDOLFO, DURSO, SMULLEN, MANKTELOW, GIGLIO, JENSEN, DeSTEFANO, ANGELINO, McDONOUGH, GALLAHAN, MIKULIN, PIROZZOLO, BEEPHAN, BROOK-KRASNY -- Multi-Sponsored by -- M. of A. BLANKENBUSH, BRABENEC, COLTON, COOK, DiPIETRO, HAWLEY, MILLER, PALMESANO, RA, ROZIC, STECK -- read once and referred to the Committee on Real Prop- erty Taxation AN ACT to amend the real property tax law, in relation to raising the income cap for senior citizens applying for the enhanced STAR property tax exemption The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subparagraph (i) of paragraph (b) of subdivision 4 of 2 section 425 of the real property tax law is amended by adding a new 3 clause (B-1) to read as follows: 4 (B-1) For final assessment rolls to be completed in two thousand twen- 5 ty-four, eligibility for the exemption shall be based upon income for 6 the income tax year immediately preceding the date of making application 7 for the exemption, and the income standard shall be one hundred twenty 8 thousand dollars. 9 § 2. This act shall take effect immediately and shall apply to all tax 10 years commencing on or after such date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04555-01-5