Posted by Mark Smith on September 30, 2000 at 00:05:00:
In Reply to: Senior gets 80% rent exemption??????? posted by John Tenant on September 29, 2000 at 13:44:29:
The Senior Citizen Rent Increase Exempton (SCRIE) applies to rent controlled, rent stabilized, and Mitchell-Lama apartments occupied by senior citizens who qualify under the law.
With 7 1/2% compounded annual increases in the Maximum Collectible Rent (MCR) for rent controlled apartments, it's entirely possible to have an 80% exemption for someone who has lived in an apartment for many years. The landlord still gets the full rent -- some of it from the tenant, and the rest from the city, in the form of a real estate tax credit.
DHCR Fact Sheet #21 - SCRIE (from TenantNet)
or click on the link at the end of this message
The picture of the WWF's Stephanie McMahon has nothing to do with this message, but I think she's hot -- and she is the boss's daughter.
: I recently saw my neighbor's rent bill and was shocked to see how little rent they are paying.
: Their $850 bill showed a "Senior Citizen Exemption" and a $45 charge for "fuel," bringing the total to $158!
: What law in Manhattan would give a Senior an 80% rent reduction? The only law I can find reference to is the Senior Citizen Rent *Increase* Exemption.
: We in the building are outraged that a senior pays almost nothing for a 3 bedroom apartment, while other folks are paying $2000 for a studio.
: What is going on here?
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