Bill Text: NY S00103 | 2021-2022 | General Assembly | Introduced


Bill Title: Grants a tax deferment for persons sixty-five years of age or over who own and occupy real property in a city having a population of one million or more persons.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2022-01-05 - REFERRED TO AGING [S00103 Detail]

Download: New_York-2021-S00103-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                           103

                               2021-2022 Regular Sessions

                    IN SENATE

                                       (Prefiled)

                                     January 6, 2021
                                       ___________

        Introduced  by  Sen. PERSAUD -- read twice and ordered printed, and when
          printed to be committed to the Committee on Aging

        AN ACT to amend the real property tax law, in relation to granting a tax
          deferment for persons sixty-five years of age or older who reside in a
          city having a population of one million or more persons

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  The  real  property  tax  law  is amended by adding a new
     2  section 467-l to read as follows:
     3    § 467-l. Deferral of real property tax for persons sixty-five years of
     4  age or older residing in a city having a population of  one  million  or
     5  more  persons.  1.  (a)  Any city of one million or more persons may, by
     6  local law, grant a tax deferment for qualifying real property owned  and
     7  occupied by one or more persons, each of whom is sixty-five years of age
     8  or  older, or qualifying real property owned and occupied by husband and
     9  wife or by siblings, one of whom is sixty-five years of  age  or  older.
    10  For  purposes  of  this  section,  "sibling"  shall  mean a brother or a
    11  sister, whether related through half blood, whole blood or adoption.
    12    (b) For the purposes of this section, "qualifying real property" shall
    13  mean a one, two or three family residence, a farm dwelling  or  residen-
    14  tial  property  held in condominium or cooperative form of ownership. If
    15  the property is not an eligible type of property, but a portion  of  the
    16  property  is  partially  used  by the owner as a primary residence, that
    17  portion which is so used shall be entitled to the deferment provided  by
    18  this  section;  provided that in no event shall the deferment exceed the
    19  assessed value attributable to that portion. The primary  residence  and
    20  occupancy  requirement  shall  be  waived  if  the  qualifying person or
    21  persons are absent from the property due to medical reasons or  institu-
    22  tionalization.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03037-01-1

        S. 103                              2

     1    (c) Application for such deferment shall be made annually by the owner
     2  or owners of such real property. No application for such deferment shall
     3  be  granted to any owner with a total income exceeding fifty-eight thou-
     4  sand four hundred dollars. For purposes of this section, "income"  shall
     5  mean  the  gross  income of the owner or owners of such property for the
     6  income tax year immediately preceding the date of application  for  such
     7  deferment  and  shall  include  social security and retirement benefits,
     8  interest, dividends, total gain from the sale or exchange of  a  capital
     9  asset which may be offset by a loss from the sale or exchange of a capi-
    10  tal  asset in the same income tax year, net rental income, earned income
    11  from salary or earnings and net income from self-employment,  but  shall
    12  not  include a return of capital, gifts or inheritances. The age of each
    13  owner of such property shall be the age of such person at the  commence-
    14  ment  of  the city's fiscal year for which an application for tax defer-
    15  ment is made.
    16    2. Such deferment shall equal the total per centum  of  the  deferment
    17  base.  For  purposes  of  this  section, "deferment base" shall mean any
    18  increase in real property tax from the tax  year  immediately  preceding
    19  the year in which such person reached the age of sixty-five years to the
    20  tax year for which an application for tax deferment is made.
    21    3.  The  amount  of  taxes  deferred shall accrue against such person,
    22  without interest, and shall, on the  date  such  deferment  is  granted,
    23  constitute  a  lien  against  such  property in favor of the appropriate
    24  municipal corporation. The owner or  owners  of  such  property,  having
    25  received  such  deferment  pursuant  to  this section, may, at any time,
    26  terminate the deferment and remove the resultant lien on  said  property
    27  by paying in full the cumulative amount of such lien.
    28    4.  A  tax  deferment  granted  to a husband and wife pursuant to this
    29  section, once granted, shall not be  rescinded  solely  because  of  the
    30  death  of  the  older spouse so long as the surviving spouse is at least
    31  sixty-two years of age. In the event that the surviving spouse  is  less
    32  than sixty-two years of age, such surviving spouse shall be eligible for
    33  the  tax  deferment  upon  reaching  sixty-two years of age provided all
    34  other eligibility requirements are met.
    35    5. Any person who has already attained the age of sixty-five years  or
    36  older  is  eligible  for  such  deferral  and shall be entitled to a tax
    37  deferment based on the tax year immediately preceding the effective date
    38  of this section.
    39    6. The deferment period will expire when  either  no  eligible  person
    40  remains  in the property, or when the beneficiary of the deferment fails
    41  to reapply for such deferment; provided, however, that the  municipality
    42  must provide a notice sixty days prior to the annual reapplication dead-
    43  line via United States Postal Service to the beneficiary's primary resi-
    44  dence. Upon the expiration of the deferment period, the municipal corpo-
    45  ration  may  collect upon the lien utilizing its standard procedures for
    46  tax liens and tax sales pursuant to chapter three of title eleven of the
    47  administrative code of the city of New York.
    48    § 2. This act shall take effect on the one hundred eightieth day after
    49  it shall have become a law.
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