New York S01559 amends real property tax law and personal income tax rates.

New York S01559 enacts the "Affordable NY act," which increases the STAR exemptions and adjusts personal income tax rates. The bill modifies the base figures for the enhanced STAR exemption, linking them to the consumer price index. It also adjusts the tax rates for personal income, setting specific brackets and rates for different income levels. The changes apply to taxable years beginning in 2018 and beyond, with varying rates for different income brackets.

New York S01559 amends real property tax law and personal income tax rates.

New York S01559 enacts the "Affordable NY act," which increases the STAR exemptions and adjusts personal income tax rates. The bill modifies the base figures for the enhanced STAR exemption, linking them to the consumer price index. It also adjusts the tax rates for personal income, setting specific brackets and rates for different income levels. The changes apply to taxable years beginning in 2018 and beyond, with varying rates for different income brackets.