Permits real property tax freeze for persons aged 65 or older in cities with one million or more residents.

New York A04567 allows cities with a population of one million or more to grant a real property tax freeze for qualifying real property owned and occupied by persons aged 65 or older, or by spouses or siblings where at least one is 65 or older. The freeze applies to one, two, or three family residences, farm dwellings, or residential properties in condominium or cooperative ownership. The freeze amount is based on the tax year immediately preceding the effective date of this act. The freeze expires if no eligible person remains in the property or if the beneficiary fails to reapply.

Permits real property tax freeze for persons aged 65 or older in cities with one million or more residents.

New York A04567 allows cities with a population of one million or more to grant a real property tax freeze for qualifying real property owned and occupied by persons aged 65 or older, or by spouses or siblings where at least one is 65 or older. The freeze applies to one, two, or three family residences, farm dwellings, or residential properties in condominium or cooperative ownership. The freeze amount is based on the tax year immediately preceding the effective date of this act. The freeze expires if no eligible person remains in the property or if the beneficiary fails to reapply.