Mineola, NY - Nassau County Presiding Officer Judy Jacobs (D-Woodbury) joined members of the legislature in unanimously approving two new laws that will provide property tax exemptions for individuals with disabilities who have limited income, and senior citizens living on fixed incomes.

While the measures, which are designed to assist those individuals whose income falls below a certain level, will result in reducing the total taxable valuation of county property, it is not anticipated that the new income limits will significantly increase the number of individuals eligible to receive the exemption.

"There are many people living in Nassau County who struggle to make ends meet each month and have to make choices about how to stretch their limited incomes. If this legislation helps them put even a little more money in their pocket and makes their lives a little better, then we have done something beneficial," said Presiding Officer Jacobs.

The local law relates to a partial real property tax exemption for individuals with disabilities who have limited income. The disabilities may include physical or mental impairment that substantially limits their ability to care for themselves, perform manual tasks, such as walking, seeing, hearing, speaking, breathing, learning, and working, and who are eligible to receive social security disability insurance, supplemental security income benefits, or other similar types of benefits.

The exemption would be provided after all other exemptions are subtracted from the total amount assessed and may not be in combination with the newly adopted senior citizens with limited income exemption.

The new law would raise the qualifying annual income level from $0-$21,500 to $0-$23,999, thereby allowing more residents to take advantage of the exemption, which begins at 50% and works its way down to 5% for those with incomes from $31,500-$32,399.

While the law would take effect immediately, it would apply to assessment rolls prepared on the basis of taxable status on or after January 2, 2004, and beginning with the 2004-2005 school tax levy and 2005 county tax levy.

The total savings for the 258 qualified disabled residents who are currently receiving an exemption is $70,535, or $273 each. It is not anticipated that the new income limits will significantly increase the number of individuals eligible to receive the exemption.

The new law relating to the real property tax exemption for persons aged 65 and older with limited income, will increase the income thresholds from $29,899.99 to $32,399.99 and reduce the property taxes paid by qualifying senior citizens.

Currently, there are 12,265 Nassau residents, 65 or older, who are receiving an exemption based on income, for a total tax savings of $2.6 million or $213 each. The legislation increases the number of people who are eligible for the exemption by raising the threshold and also increases the number of people who may qualify for a larger exemption by placing them in a higher exemption bracket.