ALBANY COUNTY — The county legislature is considering a bill that would increase tax exemptions for elderly residents.

Since the state amended its Real Property Tax Law last year, the legislature can raise the income threshold for a senior exemption from $29,000 to $50,000.

If the bill becomes law, a county resident age 65 or older could receive up to a 50 percent reduction of their assessed value.

The bill is being sponsored by Legislature Chairman Andrew Joyce and Elder Care Committee Chairwoman Carolyn McLaughlin.

“A dollar does not go as far as it used to, and our seniors on fixed incomes are certainly feeling the effects of the rising rates of inflation every day,” said Joyce in a release touting the bill. “By providing some relief on their property tax bill, that means more for food, gas, medications and everything else our seniors need to thrive.” 

“Seniors who have a higher income now due to work done in their younger years, shouldn’t be penalized by missing out on savings now. When you’re on a fixed income like many in our County are, every dollar counts,” said McLaughlin in the release.