New York A11427 allows a real property tax exemption for dwelling units constructed for senior citizens or disabled persons receiving social security.

New York A11427 amends the real property tax law to allow a tax exemption for dwelling units constructed for senior citizens or disabled persons receiving social security disability benefits. This exemption applies to the increase in assessed value resulting from the construction or reconstruction of such property. The exemption is limited to the lesser of the increase in assessed value, twenty percent of the total assessed value of the property, or twenty percent of the median sale price of residential property in the county.

New York A11427 allows a real property tax exemption for dwelling units constructed for senior citizens or disabled persons receiving social security.

New York A11427 amends the real property tax law to allow a tax exemption for dwelling units constructed for senior citizens or disabled persons receiving social security disability benefits. This exemption applies to the increase in assessed value resulting from the construction or reconstruction of such property. The exemption is limited to the lesser of the increase in assessed value, twenty percent of the total assessed value of the property, or twenty percent of the median sale price of residential property in the county.