New York Seniors Get Property Tax Relief
Update: 2025-12-09
Description
New York seniors may soon benefit from increased property tax exemptions, thanks to a new state law. The legislation allows local governments to offer up to 65% of a seniors home value in tax exemptions, a significant increase from the previous 50%. This move aims to help seniors on fixed incomes stay in their homes as living costs rise. The Governor emphasized that no senior should lose their home due to property taxes. The average senior could save up to $300 annually, but localities must adopt the program for it to take effect.
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