SCHE
What is SCHE?
The Senior Citizen Homeowners' Exemption (SCHE) provides a reduction of 5 to 50% on New York City's real property tax to seniors age 65 and older.
Am I eligible for SCHE?
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To qualify, seniors generally must be 65 years of age or older and meet certain income limitations and other requirements. For the 50% exemption, the law allows each county, city, town, village, or school district to set the maximum income limit at any figure between $3,000 and $29,000. The maximum income limit for properties in New York City is $50,000. You must own the property for at least 12 consecutive months prior to the date of filing for the senior citizens exemption.
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Localities have the further option of giving exemptions of less than 50% to seniors whose incomes are more than $29,000. Under this option, called the "sliding-scale option," such owner can have a yearly income as high as $37,399.99 and get a 5% exemption in places that are using the maximum limit.
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Please check with your local assessor, city/town clerk, or school district to determine which local options, if any, are in effect.
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You must own the property for at least 12 consecutive months prior to the date of filing for the senior citizens exemption, unless you received the exemption for your previous residence.
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In computing the 12-month period, the period of ownership is not interrupted by the following:
How much will my estimated reduction be?
If your income is between:
SCHE can reduce your home's assessed value by:
$57500 and $58399
5%
$56600 and $57499
10%
$55700 and $56599
15%
$54800 and $55699
20%
$53900 and $54799
25%
$52000 and $52999
35%
$51000 and $51999
40%
$53000 and $53899
30%
$50001 and $50999
45%
$0 and $50000
50%
How do I apply for SCHE?
SCHE is not granted automatically. You must submit an exemption application, available at www.nyc.gov/exemptionforms, to the Department of Finance by March 15 for your exemption to begin on July 1 of the same year. For a paper application, call 311.