Office of Borough President James P. Molinaro
Staten Island, New York
B.P. Molinaro urges Staten Islanders to take advantage of senior citizen homeowners exemption
Filing Application Before March 15th Deadline Can Save Thousands on Taxes
STATEN ISLAND, N.Y. – Borough President Molinaro today urged Staten Islanders to take advantage of a City program that provides up to a 50 percent property tax exemption for eligible seniors who own and occupy residential properties.
Currently, under the Senior Citizen Homeowners Exemption (SCHE) program, homeowners who earn less than $26,000 qualify for an exemption of 50 percent of the assessed value of their homes.
Last year, Governor Pataki signed legislation allowing the City to raise the program’s annual income eligibility level, and a bill recently signed into law by Mayor Bloomberg raises the threshold to $27,000 in 2007, $28,000 in 2008, and $29,000 in 2009.
“After a lifetime of mortgage payments, the burden of property taxes falls heavily on senior homeowners as they struggle to make ends meet on fixed incomes,” said Molinaro. “On behalf of Staten Island’s 70,000 seniors, I’d like to thank Mayor Bloomberg for making it possible for more of our elderly to save money and stay in their homes and neighborhoods, which they love.”
To be eligible, the homeowner must be 65 or older, and must have owned the property for at least one year. If the property is co-owned by spouses, only one has to be over 65. If someone other than a spouse is a co-owner, all owners must be older than 65. The property must be the applicant’s legal residence, must be used exclusively for residential purposes and may have no more than three dwelling units.
Applications must be received by the New York City Department of Finance by March 15th for benefits beginning on July 1st. Applications are available at the Borough President’s Helpline office in Borough Hall, or can be downloaded from the Finance Dept.’s website at www.nyc.gov/finance. For more information, call 311.
January 4, 2007