Get NY RP-425-GC 2023-2024

The Property Tax Freeze Credit is a two-year tax relief program that reimburses qualifying New York State homeowners for increases in local property taxes on their primary residences.

Exemption applications must be filed with your local assessor's office. See our Municipal Profiles for your local assessor's mailing address.

Eligibility Requirements All owners of the property must be 65 or older, unless the owners are spouses or siblings. If you own the property with a spouse or sibling, only one of you must meet this age requirement. The total combined annual income of the property owner and spouse or co-owner cannot exceed $58,399.

The City of New York offers tax exemptions and abatements for seniors, veterans, clergy members, people with disabilities, and other homeowners. These benefits can lower your property tax bill.

Eligibility requirements for the Enhanced STAR exemption You will be 65 or older by December 31, 2023. For jointly owned property, only one spouse or sibling must be at least 65 by that date. Your income must be $93,200 or less.

Each of the owners of the property must be 65 years of age or over, unless the owners are: husband and wife, or. siblings (having at least one common parent) and. one of the owners is at least 65.

The IRS allows no specific tax exemptions for senior citizens, either when it comes to income or capital gains.

To be eligible for SCHE, you must be 65 or older, earn no more than $58,399 for the last calendar year, and the property must be your primary residence.