CARMEL- The Putnam Legislature has increased the maximum senior citizen property tax exemption to 65 percent following New York State amending a law authorizing local governments to increase the exemption from the previous 50 percent.
Meeting in a special session the higher exemption was unanimously approved of the seven members in attendance (Legislators Toni Addonizio and Amy Sayegh were absent).
The matter was brought to the legislature by Legislator Nancy Montgomery of Philipstown who noted: “Putnam’s law now provides enhanced relief to qualifying seniors while maintaining the statutory income ceiling.”
The legislation updates the county’s code to reflect the new maximum authority adopting a graduated exemption schedule beginning with the 2026 assessment role.
Seniors’ annual income cannot exceed $50,000 for fiscal year 2026 to be eligible for the 65 percent reduction.
A sliding scale ranging from income of $50,000 to $51,000 for a 60 percent reduction all the way to income between $57,500 and $58,400 for a 20 percent reduction was approved as part of the local law.
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