The purpose of this article is to grant a partial exemption
from taxation of real property which is owned by certain persons with
limited income who are 65 years of age or over, meeting the requirements
set forth in § 467 of the Real Property Tax Law.
Real property owned by persons 65 years of age or over shall
be exempted from Town taxes subject to the following conditions:
A. The owner or all of the owners must file an application annually
in the Assessor's office on or before the taxable status date,
which is March 1.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]
B. An application for renewal of the exemption granted pursuant to Real
Property Tax Law § 467 must be filed on or before the taxable
status date, which is March 1.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]
C. The income of the owner or the combined income of the owners must
not exceed $21,699 for the 12 consecutive months prior to the date
that the application is filed. Where title is vested in either the
husband or wife, the combined income may not exceed such sum.
[Amended 2-8-2005 by L.L.
No. 1-2005]
D. Title to the property must be vested in the owner or one of the owners
for at least 12 consecutive months prior to the date that the application
is filed.
[Amended 2-8-2005 by L.L.
No. 1-2005]
E. The property must be used exclusively for residential purposes, be
occupied in whole or in part by the owners and constitute the legal
residence of the owners. However, if a portion of the property is
used for other than residential purposes, the senior citizens exemption
will apply only to the portion used exclusively for residential purposes.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]
[Amended 2-14-1995 by L.L. No. 1-1995; 2-8-2005 by L.L. No. 1-2005]
A. A senior citizen exemption of 50% will be granted on a maximum income
of $16,000 or less and a reduced (or sliding scale) option exemption
will be granted to otherwise qualified owners whose incomes exceed
the local income ceiling by a limited amount. This is in accordance
with § 467, Subdivision 1(b), of the Real Property Tax Law.
B. The extent of the exemption granted shall depend on the annual income
as calculated in the above section as follows:
Annual Income
|
Percentage of Assessed Valuation Exempt from Taxation
|
---|
$0 to $16,000
|
50%
|
$16,001 to $16,999
|
45%
|
$17,000 to $17,999
|
40%
|
$18,000 to $18,999
|
35%
|
$19,000 to $19,899
|
30%
|
$19,900 to $20,799
|
25%
|
$20,800 to $21,699
|
20%
|
C. Each county, city, Town, village and school district may choose whether
or not to allow the base exemption of 50% and the amount of the maximum
income exemption eligibility level. The option to exempt must be exercised
through adoption of a local law, ordinance or resolution. In addition,
each county, city, Town, village and school district which has chosen
to allow the base exemption may choose to amend the enabling legislation
to allow for an increase in the maximum income exemption eligibility
level and a corresponding decrease in the percentage of exemption.