[Adopted 9-24-2001 by L.L. No. 1-2001]
The City of Hornell recognizes the role of the
family in the care of the aging and the contribution to family life
that can be made by encouraging the aging to share their decades or
wisdom and experience with the youth of their families. Although nursing
homes provide a valuable service to the community, even the high cost
of such care cannot replace the family environment. The City of Hornell
hereby finds that is in the best social and economic interests of
the city to encourage the care for the aging to be provided within
the family. To that end, by providing the following exemption, it
is the intent to so encourage families to provide for their aging.
The City of Hornell does hereby provide for
an exemption from taxation to the extent of any increase in assessed
value of residential property resulting from the construction or reconstruction
of such property for the purpose of providing living quarters for
a parent or grandparent who is 62 years of age or older. Such exemption
shall not exceed:
A.
The increase in assessed value resulting from construction
or reconstruction of such property; or
B.
Twenty percent of the total assessed value of such
property as improved; or
C.
Twenty percent of the medial sale price of residential
property as reported in the most recent statistical sales summary
published by the State Board for the county in which the property
is located, whichever is less.
A.
No such exemption shall be granted unless:
B.
Such exemption shall be applicable only to construction
or reconstruction which occurred subsequent to January 1, 2002, and
shall only apply during taxable years where at least one such parent
or grandparent maintains a primary place of residence in such living
quarters.
Such exemption from taxation shall be granted
upon an application made annually, upon a form to be promulgated by
the City Assessor, by the owner of such property to the Assessor of
the City of Hornell on or before the appropriate taxable status date
of the city. If the Assessor is satisfied that the property is entitled
to an exemption pursuant to this article, he/she shall approve the
application, and such residential improvements shall be exempt from
taxation and special ad valorem levies as provided in this article.
As used in this article, the following terms
shall have the meanings indicated:
Includes the natural or adopted parent or grandparent of
the owner or of the spouse of the owner.
