Town of Albion, NY Article III Senior Citizens Exemption

[Adopted 6-22-2009 by L.L. No. 6-2009[1]]

[1] Editor's Note: This local law also superseded the former maximum income level for eligible for a senior citizens tax exemption established 12-11-2000 by resolution of the Town Board.

§ 90-6 Legislative intent.

This article is enacted pursuant to the provisions of the Municipal Home Rule Law and the Real Property Tax Law of the State of New York.

§ 90-7 Eligibility.

[Amended 12-12-2022 by L.L. No. 4-2022; 12-11-2023 by L.L. No. 3-2023]

A. Definitions. As used in this section, the following terms shall have the meanings indicated:

APPLICABLE INCOME TAX YEAR

The second most recent calendar year.

INCOME

The "adjusted gross income" for federal income tax purposes as reported on the applicant's federal or state income tax return for the applicable income tax year, subject to any subsequent amendments or revisions to Real Property Tax Law § 467 Subdivision 3(iv); provided that if no such return was filed for the applicable income tax year, the applicant's income shall be determined based on the amounts that would have so been reported if such a return had been filed; and provided further, that when determining income for purposes of this section, the following conditions shall be applicable:

(1) Any social security benefits not included in such federal adjusted gross income shall be considered income.

(2) Distributions received from an individual retirement account or individual retirement annuity that were included in the applicant's federal adjusted gross income shall be considered income and shall not be excluded.

(3) Any tax-exempt interest or dividends that were excluded from the applicant's federal adjusted gross income shall be considered income.

(4) Any losses that were applied to reduce the applicant's federal adjusted gross income shall be subject to the following limitations:

(a) The net amount of loss reported on federal Schedule C, D, E, or F shall not exceed $3,000 per schedule.

(b) The net amount of any other separate category of loss shall not exceed $3,000, and

(c) The aggregate amount of all losses shall not exceed $15,000;

B. No exemption shall be granted:

(1) If the income of the owner or the combined income of the owners of the property for the applicable income tax year exceed the sum provided in Subsection C of this section as hereinbelow set forth.

(2) Where title is vested in a married person, the combined income of such person and such person's spouse may not exceed such sum, except where one spouse or ex-spouse is absent from the property due to divorce, legal separation or abandonment, in which case only the income of the spouse or ex-spouse residing on the property shall be considered and may not exceed such sum.

C. Real property owned by one or more persons. Real property owned by one or more persons, each of whom is 65 years of age or over, or real property owned by married a couple or by siblings, one of whom is 65 of age or over, shall be exempt from taxation for county purposes up to a maximum of 50% of the assessed value provided the owner(s) meet the qualifications set forth below. Any person otherwise qualifying under this section shall not be denied the exemption under this section if they become 65 years of age after the appropriate taxable status date and on or before December 31 of the same year.

Annual Income	Percentage of Assessed Valuation Exempt From Taxation
$19,000 or less	50%
$19,000.01 to $19,999.99	45%
$20,000 to $20,999.99	40%
$21,000 to $21,999.99	35%
$22,000 to $22,899.99	30%
$22,900 to $23,799.99	25%
$23,800 to $24,699	20%

§ 90-8 When effective.

This article shall take effect immediately upon filing with the Department of State and shall apply to assessment rolls prepared on the basis of taxable status dates occurring on and after March 1, 2010.