In December 2025, Governor Kathy Hochul signed a law raising the senior property tax exemption cap from 50% to 65% of assessed value. For NYC homeowners with higher assessed values, the actual savings could be significantly larger than the state’s $300 estimate. The critical limitation is that each local government has to formally adopt the higher cap before its senior residents can benefit. Here is how the SCHE (Senior Citizen Homeowners’ Exemption) and DHE (Disabled Homeowners’ Exemption) programs work, what the income limits are, and what you need to do to apply.
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