Bill Text: NY S06868 | 2015-2016 | General Assembly | Introduced

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Bill Title: Relates to income requirements for the real property school tax exemption granted to certain persons sixty-five years of age or over in high-appreciation municipalities; defines "high-appreciation municipality".

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-03-02 - REFERRED TO AGING [S06868 Detail]

Download: New_York-2015-S06868-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
            S. 6868                                                  A. 9408
                SENATE - ASSEMBLY
                                      March 2, 2016
                                       ___________
        IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
          ed, and when printed to be committed to the Committee on Aging
        IN  ASSEMBLY  -- Introduced by M. of A. THIELE -- read once and referred
          to the Committee on Aging
        AN ACT to amend the  real  property  tax  law,  in  relation  to  income
          requirements  for  the  real  property school tax exemption granted to
          persons sixty-five years of age or over in  high-appreciation  munici-
          palities
          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 of  the  real
     2  property  tax  law,  as  amended  by chapter 259 of the laws of 2009, is
     3  amended to read as follows:
     4    (a) if the income of the owner or the combined income of the owners of
     5  the property for the income tax year immediately preceding the  date  of
     6  making  application  for  exemption  exceeds  the  sum of three thousand
     7  dollars, or such other sum not less than three thousand dollars nor more
     8  than twenty-six thousand dollars beginning July first, two thousand six,
     9  twenty-seven thousand dollars beginning July first, two thousand  seven,
    10  twenty-eight  thousand dollars beginning July first, two thousand eight,
    11  and twenty-nine thousand dollars  beginning  July  first,  two  thousand
    12  nine,  and  fifty  thousand  dollars  beginning July first, two thousand
    13  sixteen in a county, city, town, village or school district which  is  a
    14  "high-appreciation  municipality",  as may be provided by the local law,
    15  ordinance or resolution adopted pursuant to this section.  For  purposes
    16  of  this  subparagraph,  a "high-appreciation municipality" means: (A) a
    17  special assessing unit that is a  city,  (B)  a  county  for  which  the
    18  commissioner  has  established  a  sales  price  differential factor for
    19  purposes of the STAR exemption authorized by section four hundred  twen-
    20  ty-five  of this title in three consecutive years, and (C) a city, town,
    21  village or school district which is wholly or partly located within such
    22  a county. Income tax year shall mean the twelve month period  for  which
    23  the owner or owners filed a federal personal income tax return, or if no
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14190-01-6