New York A02082 amends the real property tax law to adjust pension income calculations for tax abatements on rent-controlled and rent-regulated.

New York A02082 modifies the real property tax law to redefine how pension income is calculated for tax abatements on rent-controlled and rent-regulated properties. The bill specifies that income should be calculated from all sources after deducting income and social security taxes. It includes income from social security and retirement benefits, supplemental security income, public assistance benefits, interest, dividends, net rental income, salary or earnings, and net income from self-employment.

New York A02082 amends the real property tax law to adjust pension income calculations for tax abatements on rent-controlled and rent-regulated.

New York A02082 modifies the real property tax law to redefine how pension income is calculated for tax abatements on rent-controlled and rent-regulated properties. The bill specifies that income should be calculated from all sources after deducting income and social security taxes. It includes income from social security and retirement benefits, supplemental security income, public assistance benefits, interest, dividends, net rental income, salary or earnings, and net income from self-employment.