STATE OF NEW YORK
________________________________________________________________________
9780
IN ASSEMBLY
April 8, 2016
___________
Introduced by M. of A. GOTTFRIED -- read once and referred to the
Committee on Aging
AN ACT to amend the real property tax law, in relation to allowing for
increases in the amount of income property owners may earn for
purposes of qualification for certain tax exemptions
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
8 more than twenty-six thousand dollars beginning July first, two thousand
9 six, twenty-seven thousand dollars beginning July first, two thousand
10 seven, twenty-eight thousand dollars beginning July first, two thousand
11 eight, and twenty-nine], fifty thousand dollars beginning July first,
12 two thousand [nine] sixteen, as may be provided by the local law, ordi-
13 nance or resolution adopted pursuant to this section; provided, however,
14 beginning July first, two thousand eighteen and every two years there-
15 after, the maximum allowable income shall increase by the product of the
16 average annual percentage changes in the consumer price index for all
17 urban consumers (CPI-U) as published by the United States department of
18 labor bureau of labor statistics for the two year period rounded to the
19 nearest one thousand dollars. Income tax year shall mean the twelve
20 month period for which the owner or owners filed a federal personal
21 income tax return, or if no such return is filed, the calendar year.
22 Where title is vested in either the husband or the wife, their combined
23 income may not exceed such sum, except where the husband or wife, or
24 ex-husband or ex-wife is absent from the property as provided in subpar-
25 agraph (ii) of paragraph (d) of this subdivision, then only the income
26 of the spouse or ex-spouse residing on the property shall be considered
27 and may not exceed such sum. Such income shall include social security
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01947-04-6