Caps property taxes paid on primary residences by persons over sixty-five

This bill freezes property tax payments for New York residents aged 65 or older who own and live in their primary residence. It caps taxes at the rate paid in the year the owner turned 65, applying to single-family homes, condos, or co-ops owned individually or with qualifying family members (spouses, domestic partners, or siblings). To qualify, individuals must be 65+, own the property as their primary residence, and meet specific ownership criteria. The freeze does not affect existing school tax relief programs and expires if the owner moves or sells the home (unless a qualifying family member inherits it).