Cuomo signs Savino property tax exemption bill
New law could mean financial boost for senior citizens
Thousands of senior citizens in Brooklyn who up to now have not been eligible for a state program that gives older adults a break on their property taxes will finally be able to receive the financial boost, according to state Sen. Diane Savino.
Savino (D-Coney Island-Bensonhurst, Staten Island) was the main sponsor of a bill signed into law by Gov. Andrew Cuomo on July 26 that expands two programs: the Senior Citizen Homeowners’ Exemption (SCHE) and the Disabled Homeowners’ Exemption (DHE).
The programs provide property tax exemptions for older adults and disabled homeowners.
Specifically, Savino’s legislation raises the income cap for SCHE/DHE to $50,000 a year for a 50 percent property tax exemption and to $58,400 a year for a lower exemption. The last time the eligibility levels were raised was back in 2006, Savino said.