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RELEASE: Governor Signs Kavanagh/Savino Legislation to Extend Major Property Tax Relief for Senior & Disabled Homeowners

FOR IMMEDIATE RELEASE
Tuesday, July 25, 2017
Contact: Becca Miller 646.543.5385 

***RELEASE***

Governor Signs Kavanagh/Savino Legislation to Extend Major Property Tax Relief for Senior & Disabled Homeowners

Expanded program will help thousands of New Yorkers live affordably

New York, NY—Legislation authored by Assemblymember Brian Kavanagh and Senator Diane Savino to expand eligibility for property tax exemption programs for senior and disabled homeowners was signed into law by Governor Andrew Cuomo.

The Senior Homeowners Exemption (SCHE) and Disabled Homeowners Exemption (DHE) programs provide major property tax exemptions to residents living on fixed incomes. As a result of the new legislation, thousands of additional New Yorkers will be eligible. On average, a homeowner who qualifies for the program under the expanded income threshold could save up to $1,750 a year.

The legislation, which received support from Mayor Bill de Blasio, raises the income cap for SCHE and DHE to $50,000 for a full 50% property tax exemption and to $58,400 for a partial exemption. The eligibility levels have not been raised since 2006. The current income limit for a full 50% reduction is just $29,000.

“Giving property tax breaks to more seniors and people with disabilities who own their homes is an important step forward in our continuing efforts to ensure that our communities are affordable. This law will help thousands of New Yorkers to remain in their homes and their neighborhoods,” said Assemblymember Kavanagh. “I thank Senator Savino, Mayor de Blasio, Speaker Heastie, Governor Cuomo, our colleagues in government in both parties, and all the advocates, seniors, and people with disabilities who supported this critical legislation.”

“Our seniors and disabled New Yorkers, who live on fixed incomes, deserve to reside in their communities without the fear of losing their homes. Many of our senior citizens choose to age in place in the neighborhoods where they’ve raised their families, worked and enjoyed throughout their lives. I thank Governor Cuomo for signing this important legislation into law. I look forward to helping my constituents sign up for this savings,” said Senator Savino.

“Affordable housing is the key to keeping New York City age-friendly, and property owners, just like renters, face obstacles to paying their housing costs,” said AARP New York State Director Beth Finkel. “For many older middle class homeowners—especially those on fixed incomes—property tax bill increases can make their own homes cost-prohibitive. AARP thanks Governor Cuomo, Senator Savino, Assemblyman Kavanagh and the Legislature for addressing this issue.”

The law will take effect soon after the New York City Council passes legislation to adopt the raised income levels, which is supported by Mayor de Blasio and was included in his Executive Budget.

At that point, a 120-day window will open up for people to apply for the program for this year. Those with applications already on file that were rejected this year will be re-processed for eligibility. If a qualifying resident already paid taxes, the city’s Department of Finance would issue a credit.

The exemptions are available on a sliding scale depending on the household income of the recipient, ranging from $50,000 for a full 50% property tax exemption to $58,400 for a partial exemption, as indicated in the following table.

SCHE/DHE at $50,000 (Proposed)

 Income Range Abatement
 $57,500 - $58,400   5%
 $56,600 - $57,499   10.0%
 $55,700 - $56,599   15.0%
 $54,800 - $55,699   20.0%
 $53,900 - $54,799   25.0%
 $53,000 - $53,899   30.0%
 $52,000 - $52,999  35.0%
 $50,100 - $51,999   40.0%
 $50,001 - $50,999  45.0%
 $0 - $50,000   50.0%

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