Increases the maximum qualifying income for the senior citizen homeowner's exemption and the disabled homeowner's exemption to $70,000 in the city of.

New York S07209 amends the administrative code of the city of New York to increase the maximum qualifying income for the senior citizen homeowner's exemption and the disabled homeowner's exemption to $70,000. This change applies to exemption applications made for the fiscal year commencing in 2017 and all fiscal years thereafter. The bill specifies that income includes social security and retirement benefits, interest, dividends, total gain from the sale or exchange of a capital asset, net rental income, salary or earnings, and net income from self-employment, but excludes gifts.

Increases the maximum qualifying income for the senior citizen homeowner's exemption and the disabled homeowner's exemption to $70,000 in the city of.

New York S07209 amends the administrative code of the city of New York to increase the maximum qualifying income for the senior citizen homeowner's exemption and the disabled homeowner's exemption to $70,000. This change applies to exemption applications made for the fiscal year commencing in 2017 and all fiscal years thereafter. The bill specifies that income includes social security and retirement benefits, interest, dividends, total gain from the sale or exchange of a capital asset, net rental income, salary or earnings, and net income from self-employment, but excludes gifts.