Allows a municipality to pass a local resolution to extend the taxable status exemption filing date to match such municipality's grievance date for persons sixty-five years of age or older.
Allows a municipality to pass a local resolution to extend the taxable status exemption filing date to match such municipality's grievance date for persons sixty-five years of age or older.
Provides that the current real property tax exemption for persons over 65 may also be extended to those persons who are totally and permanently disabled; requires that municipalities shall provide by local law that such exemptions shall be granted to either those 65 years of age or older or to those who are totally and permanently disabled, or to both categories of persons.
Relates to property tax exemptions for nonprofit organizations; allows for nonprofit organizations to file an application for an exemption with the assessor no later than the taxable status date applicable to the following year's assessment roll where such nonprofit organization has purchased property after the taxable status date but prior to the levy of taxes.
Establishes a real property tax exemption for persons sixty years of age or over with an annual household income not exceeding $100,000; directs the state to reimburse municipalities for lost revenues.