Hi,
can you clarify - which special tax benefits do you mean?
property taxes reduction? income tax credits? others?
For instance - the Senior Citizens Real Property Tax Exemption is based on the income - please see how the percent reduction depends on the income level in Senior Citizens Property Tax Exemption Brochure
The Exemption for Persons With Disabilities and Limited Incomes also is based on the income level - please see more details Persons with Disabilities and Limited Incomes Partial Property Taxes Exemption Brochure
On the state level - if you are over the age of 59 ½ or turn 59 ½ during the tax year, you may qualify for a private pension and annuity exclusion of up to $20,000. This exclusion from New York taxable income applies to pension and annuity income included in your federal adjusted gross income. For more information on the pension exclusions and other benefits for retired people, see Publication 36, General Information for Senior Citizens and Retired Persons.
Let me know if you need any help.
HI
TO CLARIFY: LET US TAKE EACH ISSUE ONE AT A TIME.
IN SENIOR CITIZENS PROPERTY TAX EXEMPTION, BASES ON THE ABOVE INFO., WOULD I BE ELIGIBLE?
IF YOU HAVE ANY MORE QUESTIONS, PLEASE LIST THEM.
THANK YOU
the Senior Citizens Real Property Tax Exemption is based on the income level.
To be eligible - your income should be below $37,400.
To be eligible for the maximum exemption 50% - your income should be below $29,000
Income, under this law, means money received from all sources, both taxable and non-taxable. Income includes social security, but does not include welfare payments, supplemental security income, gifts, or inheritances.
Also the income of your spouse should be included.
Unreimbursed medical and prescription drug expenses and Veterans Disability Compensation may be deducted from the total income.
Tax Preparer
Taxes, Immigration, Labor Relations