New York S06533 amends tax abatement rules for rent-controlled and rent-regulated properties.

New York S06533 amends the real property tax law to change the income limits for tax abatement eligibility for rent-controlled and rent-regulated properties. For households where the head is a senior citizen, the combined income limit for tax abatement eligibility is set at $4,000, or a higher amount up to $25,000, depending on the year. For households with a head who is a person with a disability, the combined income limit is set at $50,000, or a higher amount up to $55,000, depending on the year. The bill also adjusts the income limits for property owners.

New York S06533 amends tax abatement rules for rent-controlled and rent-regulated properties.

New York S06533 amends the real property tax law to change the income limits for tax abatement eligibility for rent-controlled and rent-regulated properties. For households where the head is a senior citizen, the combined income limit for tax abatement eligibility is set at $4,000, or a higher amount up to $25,000, depending on the year. For households with a head who is a person with a disability, the combined income limit is set at $50,000, or a higher amount up to $55,000, depending on the year. The bill also adjusts the income limits for property owners.