All About the Senior Citizen Property Tax Exemption in New York
While New York isn’t considered a state with low property taxes, there are ways you can lower them. One method that can reduce your tax bill is applying for a tax exemption, such as the senior citizen property tax exemption.
Understanding your property taxes and the exemption you may qualify for is the starting point in keeping the numbers on your tax bill low. We’ll help you familiarize yourself with the senior citizen property tax exemption in New York and provide you with a personalized guide to it.
Does the Entire New York State Offer the Property Tax Relief for Seniors?
No, it doesn’t. Local governments across New York can choose to provide the senior citizen property tax exemption, such as Nassau County and New York City, but not all of them do. Even the counties or municipalities that offer the senior exemption can differ in their eligibility factors or tax reduction amounts.
You can check with your local property tax assessor or website whether this exemption is available in your location. To skip the hassle, use DoNotPay to get all the info regarding your specific situation in terms of the senior citizen exemption and any other.
Do I Qualify for the Property Tax Relief for Seniors in NY?
To qualify for a senior citizen exemption, you typically need to be 65 years of age or older, but more eligibility factors come into play:
- Ownership eligibility
- You have to own a property for at least 12 consecutive months
- Properties that may be eligible for the senior exemption besides your home are cooperative apartments, life estates or trusts, and manufactured homes
- Income eligibility
- Yours or the income of all property owners cannot exceed the maximum income limit imposed by the local government (typically between $3,000 and $29,000)
- The income is based on the preceding income tax year
- Age eligibility
- The property owner must be 65 or older
- All owners have to be at least 65 unless they are spouses or siblings
- Residence eligibility
- The property has to be a legal residence
- You have to own and live at the property as your primary residence
The Senior Citizen Property Tax Exemption in NY Explained
The NY senior citizen property tax exemption is essentially a tax reduction. Your home’s taxable assessment will get a 50% reduction if your income isn’t higher than the set maximum income limit. Certain local governments allow homeowners whose income exceeds the limit to receive the reduction but a much lower percentage.
Claiming Multiple NYS Property Tax Exemptions
Sometimes, you can combine different property tax exemptions. If you qualify for the senior citizen exemption, you can also apply for the School Tax Relief (STAR) exemption. In case you are a person with disabilities and a senior, you have to choose between these two exemptions.
What if I Don’t Qualify for the Senior Citizen Real Property Tax Exemption?
If you are not eligible for the senior citizen property tax exemption, you can check whether you qualify for any other. The New York State property tax relief programs are the following:
- Veterans exemption
- School Tax Relief (STAR)
- Exemption for agricultural properties
- Exemption for persons with disabilities
Other NY Property Tax Reduction Methods
When you need help paying your property taxes, you should learn a few strategies. Here are some handy tips you can use to lower your taxes:
Be present and stay close to the tax assessor during your home’s property tax assessment
Plan your home renovations according to your property tax assessment date
Examine your property tax bill
Get DoNotPay’s Guide on New York Property Tax Exemption and Appeals
Figuring out whether you qualify for an exemption, collecting the necessary documents, and applying to the correct institution can be tiring and confusing, to say the least. DoNotPay will be your assistant and walk you through the entire process with the help of our personalized guide! The property tax guide consists of two sections that cover:
- The property tax exemptions you qualify for and instructions on how to apply
- Steps to appealing your property tax assessments
With this guide, you are bound to reduce your property taxes and give your bank account a (tax) break.
As soon as you open DoNotPay in a web browser, follow these instructions to obtain our guide:
- Tap on the Property Tax feature
- Answer a few question regarding your age, income, and location
- Provide relevant info about your property
Once you provide us with the necessary details, we will generate your unique guide in a matter of minutes!
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