Provides that the amount of a STAR real property tax savings may not be less than the amount of the STAR real property tax savings from the previous year.
Provides that the amount of a STAR real property tax savings may not be less than the amount of the STAR real property tax savings from the previous year.
Creates the New York state home ownership savings plan; creates a property tax exemption related thereto; creates exemptions for properties purchased in target areas with a New York state home ownership savings plan.
Prohibits the city of New York from increasing property taxes where a property's assessed value has decreased in the previous year; applies only to class one and class two properties.
Prohibits the city of New York from increasing property taxes where a property's assessed value has decreased in the previous year; applies only to class one and class two properties.
Caps the amount of taxes a senior has to pay on his or her real property at the amount such individual paid in the year in which he or she turned 65; provides that the individual claiming the limitation must be the owner of the property and must reside in the property for at least seventy-five percent of the year.
Caps the amount of taxes a senior has to pay on his or her real property at the amount such individual paid in the year in which he or she turned 65; provides that the individual claiming the limitation must be the owner of the property and must reside in the property for at least seventy-five percent of the year.
Directs a city with a population of one million or more to reduce its real property tax levy for the 2024 fiscal year by an amount not less than the real property tax increase authorized pursuant to local law 40 of the city of New York for the year 2002.
Relates to a ten-year state takeover of the local share of Medicaid outside of New York city; provides a twenty-year state takeover of fifty percent of the local share of Medicaid in New York city; creates a commission to reform public assistance benefits; expands the state earned income tax credit from thirty percent to forty-five percent of the federal credit amount; offers the option for individuals to receive the state earned income tax credit in monthly installments; expands the child and dependent care tax credit; provides for state assumption of the growth in property taxes for school districts and local governments that remain under the real property tax cap; creates a real property tax redesign team required to produce recurring savings; subjects New York city to the property tax cap.
Relates to providing a presumption that credit shelter bequests be construed to set aside the maximum amount that may be shielded from both federal and state estate taxes.