Allows localities the option to exclude income from any disability pension or benefit in computation of income for purposes of determining eligibility for the partial real property tax exemption granted to persons 65 years of age or over.
Freezes the assessed value of real property owned by persons aged 65 or over, for the purposes of determining taxes owed on such property, beginning on the date all of such persons reach the age of 65, regardless of the actual assessed value of the property at the time of taxation.
Excludes Medicare premiums from the definition of income for purposes of the senior citizen rent increase exemptions (SCRIE) program and the disability rent increase exemption (DRIE).
Expands the real property tax exemption for persons with disabilities to property owners who are a parent or parents of an individual with a disability and such individual lives at such property.
Proposes constitutional amendment to exclude military disability income from the $10,000 income limit for eligibility for the senior citizens and disabled persons property tax deduction.
Allows a real property tax exemption for dwelling units constructed for senior citizens or disabled persons receiving social security disability benefits.