Queens,
NY - Calling it “a long overdue action to help struggling homeowners
make ends meet,” New York State Senator Joseph P. Addabbo, Jr. announced
that a new law passed at both the state and city government levels
will enable greater numbers of senior citizen and disabled homeowners in
New York City to seek relief from high property tax bills.
Addabbo, who supported the legislation (S.4628) in the State Senate, said, “It has been 11 years since income eligibility levels were last raised under the Senior Citizen Homeowners Exemption (SCHE) program and Disabled Homeowners’ Exemption (DHE) program. With this expansion, many more senior citizens and disabled homeowners will be able to seek welcome property tax breaks.”
The annual household income cap for participating in the SCHE and DHE programs has now been raised from $29,000 to $50,000 for a full 50 percent property tax exemption, and from $37,399 to $58,399 for a partial exemption. Seniors must be 65 or older to participate. The tax relief programs offer property tax exemptions ranging from five percent to 50 percent of a home’s assessed value.
“Eligible seniors and disabled homeowners can save hundreds of dollars in property taxes under these programs,” said Addabbo, a member of the Senate Aging Committee. “Benefit programs like this lend a critical helping hand to people living on fixed incomes who want to remain in their communities without fear of losing their homes.”
Interested homeowners who believe they may be eligible for SCHE or DHE may apply by January 16, 2018 at www.nyc.gov/sche or www.nyc.gov/dhe. Those who are already receiving SCHE or DHE do not need to take any action; any increases to their benefits will appear on their 2018 property tax bills, with a retroactive credit to July 1, 2017. Homeowners who were previously denied tax relief because their income was too high will also have benefits applied to their accounts automatically, starting with the 2018 tax bill with a retroactive credit to July 1, 2017.
“I look forward to continuing to work with my colleagues in New York State and City government to ensure the best possible quality of life for our disabled and elderly residents,” said Addabbo. “Providing them with tax relief is one way to help them afford other basic life necessities and lead happier, healthier and more dignified lives.”
Addabbo, who supported the legislation (S.4628) in the State Senate, said, “It has been 11 years since income eligibility levels were last raised under the Senior Citizen Homeowners Exemption (SCHE) program and Disabled Homeowners’ Exemption (DHE) program. With this expansion, many more senior citizens and disabled homeowners will be able to seek welcome property tax breaks.”
The annual household income cap for participating in the SCHE and DHE programs has now been raised from $29,000 to $50,000 for a full 50 percent property tax exemption, and from $37,399 to $58,399 for a partial exemption. Seniors must be 65 or older to participate. The tax relief programs offer property tax exemptions ranging from five percent to 50 percent of a home’s assessed value.
“Eligible seniors and disabled homeowners can save hundreds of dollars in property taxes under these programs,” said Addabbo, a member of the Senate Aging Committee. “Benefit programs like this lend a critical helping hand to people living on fixed incomes who want to remain in their communities without fear of losing their homes.”
Interested homeowners who believe they may be eligible for SCHE or DHE may apply by January 16, 2018 at www.nyc.gov/sche or www.nyc.gov/dhe. Those who are already receiving SCHE or DHE do not need to take any action; any increases to their benefits will appear on their 2018 property tax bills, with a retroactive credit to July 1, 2017. Homeowners who were previously denied tax relief because their income was too high will also have benefits applied to their accounts automatically, starting with the 2018 tax bill with a retroactive credit to July 1, 2017.
“I look forward to continuing to work with my colleagues in New York State and City government to ensure the best possible quality of life for our disabled and elderly residents,” said Addabbo. “Providing them with tax relief is one way to help them afford other basic life necessities and lead happier, healthier and more dignified lives.”
Source: The Office of State Senator Joseph Addabbo, Jr.
No comments:
Post a Comment