NYS: have a combined income of no more than $67,850 for NYS over

Senior Citizens' Exemption
Q&A

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New York State Real Property Tax Law, section 467, gives local governments and public school districts the option of granting a reduction on the amount of property taxes paid by qualifying senior citizens. This is accomplished by reducing the taxable value of residential property owned by seniors by 50%.

To qualify, seniors generally must be 65 years of age or older and meet certain income limitations and other requirements. For the 50% exemption, the law allows each county, city, town, village, or school district to set the maximum income limit at any figure between $3,000 and $29,000.

Localities have the further option of giving exemptions of less than 50% to seniors whose incomes are more than $29,000. Under this option, called the sliding-scale option, such owner can have a yearly income as high as $37,399.99 and get a 5% exemption in places that are using the maximum limit.

Please check with your local assessor, city/town clerk, or school district to determine which local options, if any, are in effect.

 

 

所有跟帖： 

• NYS: New $500,000 Income Limit for Basic STAR Property Tax Exemp -不胡扯- ♂ (214 bytes) () 03/26/2011 postreply 08:17:29

• thx! -美西游子- ♀ (0 bytes) () 03/26/2011 postreply 22:13:24