[Adopted 4-20-1971]
[Amended 3-12-1985 by L.L. No. 3-1985; 2-2-1993 by L.L. No. 2-1993; 12-27-1994 by L.L. No. 31-1994; 5-28-1996 by L.L. No. 9-1996; 2-4-1997 by L.L. No. 3-1997; 2-29-1998 by L.L. No. 1-1998]
A.
Amount of exemption.
(1)
Real property owned by one or more persons, each of
whom is 65 years of age or over, or real property owned by married
couple or by siblings, one of whom is 65 years of age or over, shall
be exempt from Town taxes to the extent provided, subject to the following
income limitations:
[Amended 9-29-1998 by L.L. No. 16-1998; 1-30-2001 by L.L. No. 3-2001; 3-25-2003 by L.L. No. 6-2003; 11-18-2003 by L.L. No.
26-2003; 2-13-2007 by L.L. No. 4-2007; 11-15-2022 by L.L. No. 12-2022; 10-10-2023 by L.L. No. 28-2023]
|
Income
|
Extent of Exemption
|
|---|---|
|
$0 to $50,000
|
50%
|
|
$50,001 to $51,000
|
45%
|
|
$51,000 to $52,000
|
40%
|
|
$52,001 to $53,000
|
35%
|
|
$53,001 to $53,900
|
30%
|
|
$53,901 to $54,800
|
25%
|
|
$54,801 to $55,700
|
20%
|
|
$55,701 to $56,600
|
15%
|
|
$56,601 to $57,500
|
10%
|
|
$57,501 to $58,400
|
5%
|
(2)
Such exemption shall be computed after all other partial
exemptions allowed by law have been subtracted from the total amount
assessed.
B.
The real property tax exemption on real property owned
by a married couple, one of whom is 65 years of age or over, once
granted, shall not be rescinded solely because of the death of the
older spouse, so long as the surviving spouse is at least 62 years
of age.
[Amended 10-10-2023 by L.L. No. 28-2023]
C.
The term "income," as used herein, shall mean 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,
plus any social security benefits not included in the such federal
adjusted gross income, 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; distributions from retirement and annuity accounts,
including individual retirement accounts and individual retirement
annuities; and any such income shall be offset by all medical and
prescription drug expenses actually paid which were not reimbursed
or paid by insurance. Any tax-exempt interest or dividends that were
excluded from the applicant's federal adjusted gross income shall
be considered income; and any losses that were applied to reduce the
applicant's federal adjusted gross income shall be subject to the
following limitations: The net amount of loss reported on federal
Schedule C, D, E, or F shall not exceed $3,000 per schedule, the net
amount of any other separate category of loss shall not exceed $3,000
and the aggregate amount of all losses shall not exceed $15,000.
[Amended 3-12-1985 by L.L. No. 3-1985]
No exemption shall be granted:
A.
If the income of the owner or the combined income
of the owners of the property for the income tax year immediately
preceding the date of making application for exemption exceeds the
sum of $58,400 as provided by local law pursuant to this section.
Where the taxable status date is on or before April 14, “income
tax year” shall mean the twelve-month period for which the owner
or owners filed a federal personal income tax return for the year
before the income tax year immediately preceding the date of application.
Where the taxable status date is on or after April 15, “income
tax year” shall mean the twelve-month period for which the owner
or owners filed a federal personal income tax return for the income
year immediately preceding the date of the application. Where title
is vested in a married person, the term "income," as used herein,
shall mean 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, plus any social security benefits not included in the
such federal adjusted gross income, 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; distributions from retirement and
annuity accounts, including individual retirement accounts and individual
retirement annuities; any tax-exempt interest or dividends that were
excluded from the applicant's federal adjusted gross income shall
be considered income; and any losses that were applied to reduce the
applicants federal adjusted gross income shall be subject to the following
limitations: The net amount of loss reported on federal Schedule C,
D, E, or F shall not exceed $3,000 per schedule, the net amount of
any other separate category of loss shall not exceed $3,000 and the
aggregate amount of all loses shall not exceed $15,000.
[Amended 4-5-1988 by L.L. No. 7-1988; 2-6-1990 by L.L. No. 1-1990; 3-27-1990 by L.L. No. 3-1990; 2-2-1993 by L.L. No. 2-1993; 12-27-1994 by L.L. No.
31-1994; 11-18-2003 by L.L. No. 26-2003; 2-13-2007 by L.L. No. 4-2007; 11-15-2022 by L.L. No. 12-2022; 2-14-2023 by L.L. No. 3-2023; 10-10-2023 by L.L. No.
28-2023]
B.
Unless the owner shall have held an exemption under
this section for the owner's previous residence or unless the title
of the property shall have been vested in the owner or one of the
owners of the property for at least 12 consecutive months prior to
the date of making application for exemption; provided, however, that
in the event of the death of a married person in whose name title
of the property shall have been vested at the time of death and then
becomes vested solely in such person's surviving spouse by virtue
of devise by or descent from the deceased spouse, the time of ownership
of the property by the deceased spouse shall be deemed also a time
of ownership by the surviving spouse, and such ownership shall be
deemed continuous for the purposes of computing such period of 12
consecutive months. In the event of a transfer by a married person
to such person's spouse of all or part of the title to the property,
the time of ownership of the property by the transfer or spouse shall
be deemed also a time of ownership by the transferee spouse, and such
ownership shall be deemed continuous for the purposes of computing
such period of 12 consecutive months, and provided further that where
property of the owner or owners has been acquired to replace property
formerly owned by such owner or owners and taken by eminent domain
or other involuntary proceedings, except a tax sale, the period of
ownership of the former property shall be combined with the period
of ownership of the property for which application is made for exemption
and such periods of ownership shall be deemed to be consecutive for
purposes of this article. Where a residence is sold and replaced with
another within one year and both residences are within the state,
the period of ownership of both properties shall be deemed consecutive
for the purposes of this article.
[Amended 10-10-2023 by L.L. No. 28-2023]
C.
Unless the property is used exclusively for residential
purposes.
D.
Unless the real property is the legal residence of
and is occupied in whole or in part by the owner or by all of the
owners of the property.
[Amended 4-12-2011 by L.L. No. 3-2011; 10-10-2023 by L.L. No. 28-2023]
A.
Applications
for such exemption must be made by the owner or all of the owners
of the property, on forms prescribed by the Commissioner, to be furnished
by the appropriate assessing authority, and shall furnish the information
and be executed in the manner required or prescribed in such forms
and shall be filed in such Assessor's office on or before the appropriate
taxable status date.
B.
Any person who has been granted an exemption pursuant to this article on five consecutive completed assessment rolls shall not be subject to the requirements set forth in Subsection A of this section; however, said persons shall be mailed an application form by the Assessor and a notice informing him of his rights. Such exemption shall be automatically granted on each subsequent assessment roll; provided, however, that when tax payment is made by such person, a sworn affidavit must be included with the tax payment, which shall state that such person continues to be eligible for said exemption. Such affidavit shall be on a form prescribed by the Commissioner as provided by the Assessor. If such affidavit is not included with the tax payment, the Receiver of Taxes shall proceed pursuant to § 551-a of the Real Property Tax Law.
[Amended 3-12-1985 by L.L. No. 3-1985]
A.
At least 60 days prior to the appropriate taxable
status date, the assessing authority shall mail to each person who
was granted exemption pursuant to this article on the latest completed
assessment roll an application form and a notice that such application
must be filed on or before taxable status date and be approved in
order for the exemption to be granted. The assessing authority shall,
within three days of the completion and filing of the tentative assessment
roll, notify by mail any applicant who has included with his application
at least one self-addressed, prepaid envelope of the approval or denial
of the application; provided, however, that the assessing authority
shall, upon the receipt and filing of the application, send by mail
notification of receipt to any applicant who has included two of such
envelopes with the application. Where an applicant is entitled to
a notice of denial pursuant to this subsection, such notice shall
be on form prescribed by the Commissioner and shall state the reasons
for such denial and shall further state that the applicant may have
such determination reviewed in the manner provided by law. Failure
to mail such application form and notice or the failure of such person
to receive the same shall not prevent the levy, collection and enforcement
of the payment of the taxes on property owned by such person.
[Amended 10-10-2023 by L.L. No. 28-2023]
B.
Notwithstanding any other provisions of this article,
in the event that the owner, or all of the owners, of property which
has received an exemption pursuant to this article of the preceding
assessment roll shall fail to file an application for such exemption
on or before the taxable status date, such owner or owners may file,
and the assessing authority shall accept the application, executed
as if such application has been filed on or before the taxable status
date, if such application is filed with the assessing authority on
or before the date for the hearing of complaints.
[Amended 1-16-2007 by L.L. No. 3-2007]
Any person that knowingly makes a false statement
in an application under this chapter, or who knowingly allows a person
to make a false statement in an application under this chapter, and
which application is filed with the appropriate assessing authority,
shall be guilty of a violation punishable by a fine of not to exceed
$1,000 or a period of incarceration not to exceed 15 days, or both
such fine and imprisonment. Upon conviction under this chapter, the
person shall be disqualified from applying for an exemption under
this chapter for a period of five years from the date of conviction.
[Added 3-12-1985 by L.L. No. 3-1985; amended 10-10-2023 by L.L. No.
28-2023]
The assessing authority shall notify, or cause
to be notified, each person owning residential real property in the
Town of the provisions of this article, such notice to be sent with
each tax bill to such persons, and shall be in such form and content
as shall comply with the provisions of Subdivision 4 of § 467
of the Real Property Tax Law. A second copy of the notice required
by this section shall be sent 30 days prior to the filing deadline.
