Increases the maximum qualifying income for the senior citizen homeowner's exemption and the disabled homeowner's exemption to $70,000 in the city of New York.
Provides for adjustment of the maximum income threshold for eligibility for the senior citizen rent increase exemption (SCRIE), disability rent increase exemption (DRIE), senior citizen homeowners' exemption (SCHE), and disabled homeowners' exemption (DHE) by any increase in the consumer price index (CPI).
Provides for adjustment of the maximum income threshold for eligibility for the senior citizen rent increase exemption (SCRIE), disability rent increase exemption (DRIE), senior citizen homeowners' exemption (SCHE), and disabled homeowners' exemption (DHE) by any increase in the consumer price index (CPI).
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).
Allows a real property tax exemption for dwelling units constructed for senior citizens or disabled persons receiving social security disability benefits.
Relates to providing language access services to individuals relating to the tax abatement program for rent-controlled and rent-regulated property occupied by senior citizens or persons with disabilities and senior citizen and disabled homeowners.
Requires all municipal corporations to adopt senior citizen rent increase exemption programs and disability rent increase exemption programs within one year.
Provides for a continuation of senior citizen rent increase exemption benefits after a period of ineligibility due to a head of household's temporary increase in income.
Relates to the calculation of the homestead exemption amount; relates to the indexing of the homestead exemption for housing value changes; increases the amount of the motor vehicle exemption; limits the homestead exemption available to bankruptcy debtors to one exemption per household; increases the motor vehicle exemption available in bankruptcy proceedings.