Relates to increasing the income eligibility for the senior citizen homeowners' exemption

This bill raises the income limit for New York City's senior homeowners' property tax exemption from $57,500 to $100,000 annually. It directly affects senior homeowners (65+ years old) whose household income falls between $57,500 and $100,000, allowing them to qualify for reduced property tax rates they previously did not meet. The key mechanism adjusts the income thresholds in the tax exemption schedule, expanding eligibility so those earning up to $100,000 now receive a 5% tax reduction on their assessed property value. The change takes effect immediately upon enactment.