Int 0934-2026

The creation of additional annual income categories and corresponding exemption percentages for certain households eligible for the senior citizens homeowners’ exemption.

IntroductionIn CommitteeCommittee on Financeintroduced 2026-06-11

In committee — awaiting review.

Official record · Legistar

Agenda: 2026-06-11

Summary

Currently, senior citizens with annual incomes of $50,000 or less may qualify for an exemption from real property taxes to the extent of 50% of the assessed value of their homes. Acting upon authority granted to the City under a recent amendment of State law, this bill would expand tax relief to such senior citizen homeowners in the following income brackets: for homeowners with incomes equaling $48,000 or more but less than $49,000, 55 percent of the assessed home value would be exempt; for homeowners with incomes equaling $47,000 or more but less than $48,000, 60 percent of the assessed home value would be exempt; and for homeowners with incomes less than $47,000, 65 percent of the assessed home value would be exempt.

Committee on Finance — Executive Budget review and Budget modification, Banking Commission, Comptroller's Office, Department of Finance, Independent Budget Office, Office of Administrative Tax Appeal, and fiscal policy and revenue from any source.

Outlook

48% of similar bills passed

24 passed · 26 died

This bill: 31 days in committee

Similar bills: median 250 days · 26 days when passed

Compared against 50 Introduction bills in Committee on Finance.

Ranked by how closely each matches this bill's topic — closest first:

Int 1676-2017

Increasing the maximum qualifying income for the senior citizen homeowner’s exemption and the disabled homeowner’s exemption.

15dEnacted

Int 0834-2000

Real Property Tax Exemption, limited income persons with disabiltiies.

13dEnacted

Int 0264-2002

Real property tax exemption for persons with disabilities whose incomes are limited due to such disabilities.

26dEnacted

Int 0009-1998-A

Tax Exemption, Real Property, Persons Wtih Disabilities

35dEnacted

Int 0600-2022

A rebate against real property taxes for certain owners of real property.

13dEnacted

Int 0494-2006

Exemption of tax liens on residences of certain low-income persons, low-income seniors, and persons with disabilities from the tax lien sale program.

1107dFiled

+ 44 more comparable bills

Sponsors (6)

Lifecycle

IntroducedIntroduced by Council

2026-06-11 · City Council

ActionReferred to Comm by Council

2026-06-11 · City Council

Heard at (1)

City Council · 2026-06-11 · 1:30 PM · Council Chambers - City Hall

Attachments (3)

Full text

Int. No. 934 By Council Members Felder, Wong, Louis, Schulman, Restler and Morano ..Title A Local Law to amend the administrative code of the city of New York, in relation to the creation of additional annual income categories and corresponding exemption percentages for certain households eligible for the senior citizens homeowners' exemption ..Body Be it enacted by the Council as follows: Section 1. Subdivision 7 of section 11-245.3 of the administrative code of the city of New York, as amended by local law number 140 for the year 2017, is amended to read as follows: 7. Notwithstanding the maximum income exemption eligibility level provided in subdivision three of this section, an exemption, subject to all other provisions of this section, shall be granted as indicated in the following schedule: Percentage Assessed Valuation Annual Income as of July 1, 2006 Exempt From Taxation More than $26,000 but less than $27,000 45 per centum $27,000 or more but less than $28,000 40 per centum $28,000 or more but less than $29,000 35 per centum $29,000 or more but less than $29,900 30 per centum $29,900 or more but less than $30,800 25 per centum $30,800 or more but less than $31,700 20 per centum $31,700 or more but less than $32,600 15 per centum $32,600 or more but less than $33,500 10 per centum $33,500 or more but less than $34,400 5 per centum Percentage Assessed Valuation Annual Income as of July 1, 2007 Exempt From Taxation More than $27,000 but less than $28,000 45 per centum $28,000 or more but less than $29,000 40 per centum $29,000 or more but less than $30,000 35 per centum $30,000 or more but less than $30,900 30 per centum $30,900 or more but less than $31,800 25 per centum $31,800 or more but less than $32,700 20 per centum $32,700 or more but less than $33,600 15 per centum $33,600 or more but less than $34,500 10 per centum $34,500 or more but less than $35,400 5 per centum Percentage Assessed Valuation Annual Income as of July 1, 2008 Exempt From Taxation More than $28,000 but less than $29,000 45 per centum $29,000 or more but less than $30,000 40 per centum $30,000 or more but less than $31,000 35 per centum $31,000 or more but less than $31,900 30 per centum $31,900 or more but less than $32,800 25 per centum $32,800 or more but less than $33,700 20 per centum $33,700 or more but less than $34,600 15 per centum $34,600 or more but less than $35,500 10 per centum $35,500 or more but less than $36,400 5 per centum Percentage Assessed Valuation Annual Income as of July 1, 2009 Exempt From Taxation More than $29,000 but less than $30,000 45 per centum $30,000 or more but less than $31,000 40 per centum $31,000 or more but less than $32,000 35 per centum $32,000 or more but less than $32,900 30 per centum $32,900 or more but less than $33,800 25 per centum $33,800 or more but less than $34,700 20 per centum $34,700 or more but less than $35,600 15 per centum $35,600 or more but less than $36,500 10 per centum $36,500 or more but less than $37,400 5 per centum Percentage Assessed Valuation Annual Income as of July 1, 2017 Exempt From Taxation More than $50,000 but less than $51,000 45 per centum $51,000 or more but less than $52,000 40 per centum $52,000 or more but less than $53,000 35 per centum $53,000 or more but less than $53,900 30 per centum $53,900 or more but less than $54,800 25 per centum $54,800 or more but less than $55,700 20 per centum $55,700 or more but less than $56,600 15 per centum $56,600 or more but less than $57,500 10 per centum $57,500 or more but less than $58,400 5 per centum Percentage Assessed Valuation Annual Income as of July 1, 2026 Exempt From Taxation Less than $47,000 65 per centum $47,000 or more but less than $48,000 60 per centum $48,000 or more but less than $49,000 55 per centum $49,000 or more but less than $50,000 50 per centum $50,000 or more but less than $51,000 45 per centum $51,000 or more but less than $52,000 40 per centum $52,000 or more but less than $53,000 35 per centum $53,000 or more but less than $53,900 30 per centum $53,900 or more but less than $54,800 25 per centum $54,800 or more but less than $55,700 20 per centum $55,700 or more but less than $56,600 15 per centum $56,600 or more but less than $57,500 10 per centum $57,500 or more but less than $58,400 5 per centum � 2. This local law takes effect July 1, 2026. LS #20940/ 20949/ 21606 4/2/26 2