Contact: | Sunny Mindel / Michael Anton (212) 788-2958 |
Remarks by Mayor Rudolph W. Giuliani at Public Hearing on Local Laws
The next bill before me today is Introductory Number 835, sponsored by Speaker Vallone and Council Members Berman and Harrison, in conjunction with my Administration. The bill would increase the income eligibility levels for the Senior Citizen Homeowners Exemption Program, known as SCHE, by $1,000.
The SCHE program provides income-eligible senior citizens with a partial exemption from the real property tax. The level of exemption seniors receive under SCHE is determined by their incomes. Currently, seniors earning $19,500 or less qualify for the program's maximum 50% exemption. Those earning up to $27,900 are eligible for a 5% exemption, the program's minimum benefit.
As a result of this bill, seniors earning up to $20,500 will now be able to take advantage of the program's maximum 50% tax exemption. On the other end of the scale, the adjustment will allow those earning $28,900 to qualify for the 5% exemption.
The SCHE program helps tens of thousands of low-income senior citizens to afford to keep their homes. Often, these are people who have owned homes in neighborhoods across the boroughs for decades, raising families, contributing to their communities and working hard to make ends meet. By raising the SCHE program's income eligibility levels, this legislation will allow even more seniors to remain in their homes and to continue to live independently in their neighborhoods.
For the reasons previously stated, I will now sign the bill.
www.nyc.gov
Go to
Press Releases | Giuliani Archives
| Mayor's Office | NYC.gov
Home Page
Contact Us | FAQs | Privacy Statement | Site Map