NEW YORK CITY DEPARTMENT OF FINANCE PROPERTY DIVISION
SENIOR CITIZEN PROPERTY TAX
F I N A N C E
u If you and your spouse are co-owners, only one of you
must be 65 or older during the calendar year.
The NYC Department of Finance is pleased to offer a
u If the co-owners are brother and sister, only one of you
reduction in real estate taxes to property owners, aged 65
years or older, with an annual income below $27,900, and
must be 65 during the calendar year.
who own and reside in one-, two-, or three-family homes,
u If the co-owners are tenants-in-common or are joint ten-
condominium units, or cooperative apartments. And, now
ants all must be 65 during the calendar year.
as a result of recent changes to state and city law, applicants
u The applicant(s) must live in the house, apartment or unit.
are permitted to exclude Veterans Administration disabili-
ty pension benefits from their calculation of household
u The property must be either a 1-, 2- or 3-family home, co-op
apartment or condominium unit. If commercial space
exists, then only the residential portion may qualify for an
Eligible property owners may apply for the exemption
between July 15 and March 15 in order to qualify for benefits
u Owner must have held title to the property for at least 12
that are reflected in their annual real estate tax bill.
consecutive months prior to March 15 of the year when the
Exemption applications may be filed by mail, or in person
exemption goes into effect. There are some limited excep-
with the Assessment Office in the borough where your prop-
tions to the 12-month rule. To hear a recorded list of these
erty is located. For more details about this program, please
exceptions, please call Citytax Dial at (718) 935-6736, mes-
read the eligibility requirements and instructions provided
u Combined total income for all owners from all sources must
As a special customer service, an application to des-
be less than $27,900*, including Social Security Income and
ignate an adult third party to receive copies of your real
exclusive of losses and allowing for a deduction of document-
estate tax bills and notices of unpaid taxes is conveniently
ed medical and/or prescription expenses not reimbursed or
attached to this exemption application. There is no charge
not paid for by insurance.
for this service, and there are no financial risks for any per-
u If the property has a 421a, 421b or 421g exemption, you
son who agrees to be a third party designee. Applications
are not eligible for this exemption unless you sign an offi-
can be filed at any time during the year with the agency’s
cial waiver of the 421a, 421b or 421g exemption.
Central Registration Unit. Enrollment in the third party
billing program is optional.
NOTE: Cooperative shareholders living in Mitchell-Lama hous-
ing, or in housing accommodations provided by Limited
Dividend Housing, Redevelopment, or Housing Development
Fund Companies, or living in the New York City Department of
Housing Preservation and Development’s (HPD) Division of
Rudolph W. Giuliani
Alternative Management Program Housing (Articles II, IV, V and
XI of the NYS Private Housing Finance Law), who are aged 62
years or older, with an annual family income below $20,000 are
eligible for benefits under the Senior Citizen Rent Increase
E L I G I B I L I T Y R E Q U I R E M E N T S
Exemption (SCRIE) program only. For more information, call
HPD at (212) 863-8494. Shareholders living in a cooperative
THE FOLLOWING IS INTENDED TO SERVE ONLY AS A
housing which was, or continues to be subject to a mortgage
GUIDE IN DETERMINING YOUR ELIGIBILITY FOR AN
insured, or initially insured by the federal government under
EXEMPTION. ALL SUBMITTED APPLICATIONS ARE SUB-
Section 213 of the National Housing Act (Section 213 housing)
JECT TO REVIEW IN ACCORDANCE WITH SECTION 467
may be eligible for either SCRIE or senior citizen property tax
OF THE NYS REAL PROPERTY TAX LAW.
benefits, but not both.
u If you are the sole owner, you must be 65 or older on or
before December 31 of the year in which benefits will
* Income threshold subject to change.