New YorkS 8032025-2026 Regular SessionSenateWALLET

Authorizes a town with a population between 69,000 and 69,500 to enact a homestead exemption

Sponsored By: Anthony H. Palumbo (Republican)

Became Law

RULESWAYS AND MEANS

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Bill Overview

Analyzed Economic Effects

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

Southampton can offer homestead exemption

New York authorizes the Town of Southampton to pass a local homestead exemption. If the town adopts it, eligible homeowners can cut their town taxable assessed value by up to $50,000. You must meet the same rules as the basic School Tax Relief (STAR) exemption. You must apply on the state form with the town assessor by the town’s taxable status date. The exemption is the same for all eligible homes. The law takes effect now and applies to assessment rolls with taxable status dates on or after the effective date.

Sponsors & Cosponsors

Sponsor

Anthony H. Palumbo
Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 79 • No: 1

Senate vote • 1/22/2025

FLOOR Vote

Yes: 58 • No: 1

committee vote • 1/13/2025

Rules Committee Vote

Yes: 21 • No: 0

Actions Timeline

SIGNED CHAP.90
2/14/2025Senate
DELIVERED TO GOVERNOR
2/12/2025Senate
RETURNED TO SENATE
2/5/2025House
PASSED ASSEMBLY
2/5/2025House
ORDERED TO THIRD READING RULES CAL.93
2/5/2025House
SUBSTITUTED FOR A2436
2/5/2025House
REFERRED TO WAYS AND MEANS
1/22/2025House
DELIVERED TO ASSEMBLY
1/22/2025Senate
PASSED SENATE
1/22/2025Senate
ORDERED TO THIRD READING CAL.77
1/13/2025Senate
REFERRED TO RULES
1/8/2025Senate

Bill Text

Original
1/6/2025
PDF

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