Local Option Senior Citizen Homestead Exemption

State

New York

Year

2007

Variations in Receipt of Benefit

Benefit Varies with Income

Benefit Type

Exemption

Benefit

Local governments and school districts have the option of providing an exemption of taxable value of residential property to senior citizens. 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 $27,000. Localities have the further option of giving exemptions of less than 50% to seniors whose incomes are more than $27,000. Under this option, called the sliding-scale option, such owner can have a yearly income less than $35,400 and get a 5% exemption in places that are using the maximum limit.

How is Benefit Disbursed

Exemption from assessed value

Eligible Property Type

Residential

Characteristics of Eligible Property

Only residential property is eligible for this program.

Eligibility Criteria

Age

Homeowner

Income Ceiling

Surviving Spouse

Other Criteria

Description of Eligibility Criteria

The applicant or a husband, wife or sibling must be at least 65 years of age or over and have an income below the amount set by the applicant's locality. This amount can range from $3,000 to $27,000 of annual income reported on the basis of the preceding income tax year. In addition, applicants must own the property for a minimum of 12 consecutive months prior to application for exemption. Surviving spouses are eligible so long as they are 62 years of age or older.

Local Option in Adoption of Program

Local government must take action to opt in

Local Option Regarding Program Features

Local option regarding program features

State Funding for Local Tax Loss

Local government covers all of its tax loss

Description of State Funding for Tax Loss

State statutes does not provide for state funding for local tax loss.

Enrollment Data

in 2007, 216,649 claims were provided, worth $22.70 billion.

Record ID

NY102_RR07

Footnotes

Sources

N.Y. R.P.T Law § 467 (in effect for 2007)
Exemption Administration Manual Persons 65 Years of Age or Older (2009), Office of Real Property Services [http://www.orps.state.ny.us/assessor/manuals/vol4/part1/section4.01/sec467.htm Accessed on 05/03/2010] View Archived Source
Senior Citizens' Exemptions Q&A (2009), Office of Real Property Services [http://www.orps.state.ny.us/pamphlet/exempt/senior.htm Accessed on 05/03/2010] View Archived Source
This record includes materials submitted by the state contact.

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