[Last amended 1-24-2007 by L.L. No. 4-2007]
A. Pursuant to § 459-c of the New York Real
Property Tax Law, real property owned by one or more persons with
disabilities, or real property owned by a husband, wife, or both,
or by siblings, at least one of whom has a disability, and whose income,
as hereafter defined, is limited by reason of such disability, shalt
be exempt from taxation by the Town of Rotterdam to the extent as
provided in the following schedule:
|
2006
|
---|
|
Persons With Disabilities and Limited
Incomes (RP-459-c)
|
---|
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
---|
|
Less than $26,000
|
50%
|
|
More than $26,001 but less than $26,999.99
|
45%
|
|
More than $27,000 but less than $27,999.99
|
40%
|
|
More than $28,000 but less than $28,999.99
|
35%
|
|
More than $29,000 but less than $29,899.99
|
30%
|
|
More than $29,900 but less than $30,799.99
|
25%
|
|
More than $30,800 but less than $31,699.99
|
20%
|
|
More than $31,700 but less than $32,599.99
|
15%
|
|
More than $32,600 but less than $33,499.99
|
10%
|
|
More than $33,500 but less than $34,399.99
|
5%
|
|
2007
|
---|
|
Persons With Disabilities and Limited
Incomes (RP-459-c)
|
---|
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
---|
|
Less than $27,000
|
50%
|
|
More than $27,001 but less than $27,999.99
|
45%
|
|
More than $28,000 but less than $28,999.99
|
40%
|
|
More than $29,000 but less than $29,999.99
|
35%
|
|
More than $30,000 but less than $30,899.99
|
30%
|
|
More than $30,900 but less than $31,799.99
|
25%
|
|
More than $31,800 but less than $32,699.99
|
20%
|
|
More than $32,700 but less than $33,599.99
|
15%
|
|
More than $33,600 but less than $34,499.99
|
10%
|
|
More than $34,500 but less than $35,399.99
|
5%
|
|
2008
|
---|
|
Persons With Disabilities and Limited
Incomes (RP-459-c)
|
---|
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
---|
|
Less than $28,000
|
50%
|
|
More than $28,001 but less than $28,999.99
|
45%
|
|
More than $29,000 but less than $29,999.99
|
40%
|
|
More than $30,000 but less than $30,999.99
|
35%
|
|
More than $31,000 but less than $31,899.99
|
30%
|
|
More than $31,900 but less than $32,799.99
|
25%
|
|
More than $32,800 but less than $33,699.99
|
20%
|
|
More than $33,700 but less than $34,599.99
|
15%
|
|
More than $34,600 but less than $35,499.99
|
10%
|
|
More than $35,500 but less than $36,399.99
|
5%
|
|
2009
|
---|
|
Persons With Disabilities and Limited
Incomes (RP-459-c)
|
---|
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
---|
|
Less than $29,000
|
50%
|
|
More than $29,001 but less than $29,999.99
|
45%
|
|
More than $30,000 but less than $30,999.99
|
40%
|
|
More than $31,000 but less than $31,999.99
|
35%
|
|
More than $32,000 but less than $32,899.99
|
30%
|
|
More than $32,900 but less than $33,799.99
|
25%
|
|
More than $33,800 but less than $34,699.99
|
20%
|
|
More than $34,700 but less than $35,599.99
|
15%
|
|
More than $35,600 but less than $36,499.99
|
10%
|
|
More than $36,500 but less than $37,399.99
|
5%
|
B. The aforesaid exemption may be subject to the following
conditions, to wit:
(1) No exemption shall be granted 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 maximum sum listed in any given year. "Income
tax year" shall mean the twelve-month period for which the owner or
owners filed a federal personal income tax return or, if no such return
is filed, the calendar year. Where title is vested in either the husband
or the wife, their combined income may not exceed such sum, except
where the husband or wife, or ex-husband or ex-wife, is absent from
the property due to divorce, legal separation or abandonment, then
only the income of the spouse or ex-spouse residing on the property
shall be considered and may not exceed such sum. Such income shall
include social security and retirement benefits, interest, dividends,
total gain from the sale or exchange of a capital asset which may
be offset by a loss from the sale or exchange of a capital asset in
the same income tax year, net rental income, salary or earnings, and
net income from self-employment, but shall not include a return of
capital, gifts, inheritances or moneys earned through employment in
the federal foster grandparent program, and any such income shall
be offset by all medical and prescription drug expenses actually paid
which were not reimbursed or paid for by insurance. In computing net
rental income and net income from self-employment, no depreciation
deduction shall be allowed for the exhaustion or wear and tear of
real or personal property held for the production of income.
(2) No exemption shall be granted unless the property
is used exclusively for residential purposes; provided, however, that
in the event any portion of such property is not so used exclusively
for residential purposes but is used for other purposes, such portion
shall be subject to taxation and the remaining portion only shall
be entitled to the exemption herein.
(3) No exemption shall be granted unless the real property
is the legal residence of and is occupied in whole or in part by the
disabled person; except where the disabled person is absent from the
residence while receiving health-related care as an inpatient of a
residential health-care facility, as defined in § 2801 of the
Public Health Law, provided that any income accruing to the person
shall be considered income for purposes of this section only to the
extent that it exceeds the amount paid by such person or spouse or
sibling of such person for care in the facility.
For purposes of this exemption, ownership in
a cooperative apartment corporation shall be exempt as follows:
A. Title to that portion of real property owned by a
cooperative apartment corporation in which a tenant-stockholder of
such corporation resides, and which is represented by his share or
shares of stock in such corporation as determined by its or their
proportional relationship to the total outstanding stock of the corporation,
including that owned by the corporation, shall be deemed to be vested
in such tenant-stockholder.
B. That proportion of the assessment of such real property
owned by a cooperative apartment corporation determined by the relationship
of such real property vested in such tenant-stockholder to such entire
parcel and the buildings thereon owned by such cooperative apartment
corporation in which such tenant-stockholder resides shall be subject
to exemption from taxation pursuant to this section and any exemption
so granted shall be credited by the appropriate taxing authority against
the assessed valuation of such real property; the reduction in real
property taxes realized thereby shall be credited by the cooperative
apartment corporation against the amount of such taxes otherwise payable
by or chargeable to such tenant-stockholder.