state_legiscan_drain · NY
Establishes the retire strong tax credit for certain individuals age 65 or older; authorizes a tax credit amounting to half the qualifying real property taxes paid by such individual for the taxable year, up to $6,500.
January 8, 2025
Summary
If enacted, this bill would create a tax credit for New York residents aged 65 or older, allowing them to claim up to $6,500 or half of their real property taxes paid, whichever is less. This is a state-level tax benefit for qualifying senior homeowners and does not directly regulate mortgage origination, servicing, or lending activities.
AI-generated summary · Jun 8, 2026. Verify with your compliance counsel before acting.
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Source: https://www.nysenate.gov/legislation/bills/2025/A452
Common questions
- What does "Establishes the retire strong tax credit for certain individuals age 65 or older; authorizes a tax credit amounting to half the qualifying real property taxes paid by such individual for the taxable year, up to $6,500." cover?
- If enacted, this bill would create a tax credit for New York residents aged 65 or older, allowing them to claim up to $6,500 or half of their real…
- When was it published?
- It was published on January 8, 2025.