FOR IMMEDIATE RELEASE
October 17, 2006
MAYOR BLOOMBERG SIGNS LEGISLATION RAISING INCOME ELIGIBILITY LEVEL FOR DISABLED HOMEOWNER'S EXEMPTION
Remarks by Mayor Michael R. Bloomberg at a Public Hearing on Local Laws
"The first bill before me is Introductory Number 444-A, sponsored by Speaker Quinn and Council Members Koppell, Addabbo, Brewer, Comrie, Dilan, Felder, Fidler, Gentile, Gonzalez, James, Lappin, Liu, Mealy, Nelson, Palma, Recchia, Sanders, Sears, Stewart, Weprin, Mark-Viverito, Mendez, Gallagher, Lanza, Oddo, Dickens, McMahon, Gennaro, Avella, Katz and the Public Advocate Betsy Gotbaum. This legislation raises the qualifying income eligibility level under the Disabled Homeowner's Exemption.
"The Disabled Homeowner's Exemption was enacted to provide up to a 50% property tax exemption for eligible disabled homeowners on limited incomes. On July 26th, Governor Pataki signed legislation allowing the City to raise the program's annual income eligibility level, and this bill will raise the threshold from the present $24,000 to $26,000 in 2006, $27,000 in 2007, $28,000 in 2008 and $29,000 in 2009.
"In Fiscal Year 2005, a total of 895 homeowners received the exemption. By modestly increasing the income eligibility threshold for the exemption, we will provide a meaningful benefit to more people with disabilities and assist them in maintaining their homes.
"I would like to thank Department of Finance Commissioner Martha Stark and Commissioner Matthew Sapolin of the Mayor's Office for People with Disabilities and their staffs for their work on this bill. I would also like to thank the Council for approving this bill."
Stu Loeser / Jennifer Falk (212) 788-2958
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