State Sen. Toby Stavisky, standing center, and Councilwoman Karen Koslowitz, standing right, speak about tax relief for seniors in Forest Hills. Photo by Phil Corso
The number of rent-regulated seniors receiving tax relief throughout the state is expected to increase dramatically, elected officials announced this week in Forest Hills.
State Sen. Toby Ann Stavisky (D-Flushing) and City Councilwoman Karen Koslowitz (D-Forest Hills) paid a visit to the Young Israel of Forest Hills Senior League Tuesday to celebrate the broadened Senior Citizen Rent Increase Exemption, which gives seniors over 62 years of age a tax credit.
“This tax relief for seniors is long overdue,” Stavisky said. “Seniors, many of whom are living on a fixed income, have been victims of Albany’s inaction for nearly five years now. Under the new budget, thousands of New Yorkers will finally get the tax relief they deserve.”
The benefit applies to seniors who live in rent-controlled apartments with their names on the lease and only if the current rent, or rent they will pay with their new lease renewal, is at least one-third of their income, Stavisky said. A room full of seniors applauded and cheered when the lawmakers shared the good news.
Koslowitz said she was proud to see more budgetary dollars allocated to such a plan, raising the income cap from $29,000 or less to up to $50,000 or less as of July. It was the first cap increase since 2009, which should bring in another 10,000 seniors citywide, officials said.
“For thousands of senior New Yorkers, the ratio of rent to income is unsustainable,” Koslowitz said. “Raising the SCRIE income threshold to $50,000 will enable many seniors to remain in their homes and have additional available income for such necessities as food and medical care.”
The extra money came as a byproduct of the state passing its fourth consecutive on-time budget, which included roughly $1.5 billion in property tax cuts and a five percent increase in state education aid, lawmakers said.
Several changes in the state budget made way for some unanticipated funds, which allowed for the total increase, lawmakers said. Stavisky said the increased income cap would be consistent through 2016, when it will be reviewed for renewal.
Susan Rabinowicz, director of the Young Israel of Forest Hills Senior League, said the broadening of the tax credit was nothing but good news for seniors throughout the city and state.
“I know how many people walked away so disappointed last year because they were denied this crucial benefit,” she said. “This is going to bring in a lot more people to be eligible.”
In a statement, state Assemblyman Andrew Hevesi (D-Forest Hills) lauded the move on a legislative victory where everyone wins.
“After years of fighting for a fair and realistic cost of living adjustment to SCRIE eligibility requirements, I am thrilled that the 2014 state budget will incorporate significant reform to the program,” he said. “These changes will help protect thousands of New York’s senior citizens each year that must live with the constant worry of how small fluctuations in their income may affect their ability to afford housing.
For more information or to explore the qualifications of the benefit, the city urged seniors to contact the Department of Finance by calling 311.
By Phil Corso
