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New YorkA 36982025-2026 Regular SessionHouseWALLET

Relates to exemptions from real property taxes for senior citizens

Sponsored By: David Weprin (Democratic)

Signed by Governor

REAL PROPERTY TAXATIONWAYS AND MEANSRULES

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Local option for bigger senior tax breaks

New York municipalities can adopt new senior property tax exemption tiers that exceed the usual exemption cap. These tiers are not automatic: the municipality must adopt them, and the household must qualify for its senior exemption. The law takes effect immediately and applies to tax years beginning on or after January 1, 2026. The tiers use the local maximum yearly income limit, called M, and exempt these shares of the home's assessed value: 50% for income below M but above M minus $1,000; 55% for income below M minus $1,000 but above M minus $2,000; 60% for income below M minus $2,000 but above M minus $3,000; and 65% for income below M minus $3,000.

Sponsors & Cosponsors

Sponsor

  • David Weprin

    Democratic • House

Cosponsors

  • George Alvarez

    Democratic • House

  • Jaime R. Williams

    Democratic • House

  • Judy Griffin

    Democratic • House

  • Noah Burroughs

    Democratic • House

  • Paula Kay

    Democratic • House

  • Stacey Pheffer Amato

    Democratic • House

  • Steven Otis

    Democratic • House

  • William Colton

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 202 • No: 0

Senate vote • 6/11/2025

FLOOR Vote

Yes: 59 • No: 0

House vote • 6/6/2025

Assembly floor vote

Yes: 143 • No: 0

Actions Timeline

  1. SIGNED CHAP.581

    12/5/2025House

  2. DELIVERED TO GOVERNOR

    12/1/2025House

  3. RETURNED TO ASSEMBLY

    6/11/2025Senate

  4. PASSED SENATE

    6/11/2025Senate

  5. 3RD READING CAL.716

    6/11/2025Senate

  6. SUBSTITUTED FOR S5175A

    6/11/2025Senate

  7. REFERRED TO RULES

    6/6/2025Senate

  8. DELIVERED TO SENATE

    6/6/2025House

  9. PASSED ASSEMBLY

    6/6/2025House

  10. ORDERED TO THIRD READING RULES CAL.426

    6/6/2025House

  11. RULES REPORT CAL.426

    6/6/2025House

  12. REPORTED

    6/6/2025House

  13. REPORTED REFERRED TO RULES

    6/4/2025House

  14. REPORTED REFERRED TO WAYS AND MEANS

    4/2/2025House

  15. PRINT NUMBER 3698A

    3/27/2025House

  16. AMEND AND RECOMMIT TO REAL PROPERTY TAXATION

    3/27/2025House

  17. REFERRED TO REAL PROPERTY TAXATION

    1/30/2025House

Bill Text

  • Amendment A

    3/27/2025

    PDF

  • Original

    1/30/2025

    PDF

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