Property taxes can take a serious bite out of retirement income, especially in a high-cost state like New York. But many seniors don’t realize they may qualify for a program that could significantly reduce their property tax bill. The Senior Citizen Homeowners’ Exemption (SCHE) is designed to help older homeowners stay in their homes by lowering the taxable value of their property. In some cases, it can reduce the assessed value by up to 50% depending on income, creating meaningful savings every year.
Here’s what New York seniors should know about SCHE savings in 2026—and why checking your eligibility could put money back in your pocket.
