New York bill A04539 raises the income limit for property tax exemption for seniors to $75,000.
New York Assembly bill A04539 amends the real property tax law to increase the allowable income for property owners over 65 years old to qualify for a property tax exemption. The bill raises the income limit from $50,000 to $75,000. This change allows more seniors to benefit from reduced property taxes based on their income level. The amendment takes effect immediately upon enactment.
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