[Adopted 5-11-1978 by L.L. No. 2-1978
as Ch. 78, Art. I, of the 1978 Code]
The purpose of this article is to grant an exemption
of the assessed valuation 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.
[Amended 4-2-1987 by L.L. No. 2-1987; 4-6-1989 by L.L. No. 1-1989; 3-7-1991 by L.L. No. 1-1991; 2-16-1995 by L.L. No. 1-1995; 4-3-2003 by L.L. No. 2-2003]
A.
Real property owned by one or more persons, each of
whom is 65 years of age or over, or real property owned by husband
and wife or by siblings, one of whom is 65 years of age or over, shall
be exempt from Town taxes to the following extent:
[Amended 1-7-2016 by L.L.
No. 1-2016]
|
Annual Income
|
Percentage Assessed Valuation Exempt From
Taxation
| |
|---|---|---|
|
$20,500 or less
|
50%
| |
|
Over $20,500 but less than $21,500
|
45%
| |
|
$21,500 but less than $22,500
|
40%
| |
|
$22,500 but less than $23,500
|
35%
| |
|
$23,500 but less than $24,400
|
30%
| |
|
$24,400 but less than $25,300
|
25%
| |
|
$25,300 but less than $26,200
|
20%
| |
|
$26,200 but less than $27,100
|
15%
| |
|
$27,100 but less than $28,000
|
10%
| |
|
$28,000 but less than $28,900
|
5%
|
B.
The foregoing exemptions shall be subject to the following
conditions:
(1)
The income of the owner or the combined income of the owners must not exceed the applicable amount as set forth in the schedule provided in Subsection A above for the income tax year immediately preceding the date of making application for exemption as provided in Paragraph (a) of Subdivision 3 of § 467 of the Real Property Tax Law of the State of New York.
(2)
Title to the property must be 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, as provided
in Paragraph (b) of Subdivision 3 of § 467 of the Real Property
Tax Law of the State of New York.
[Amended 4-3-2003 by L.L. No. 2-2003]
(3)
The real property must be used exclusively for residential
purposes as provided in Paragraph (c) of Subdivision 3 of § 467
of the Real Property Tax Law of the State of New York.
(4)
The real property must the legal residence of and
occupied in whole or part by the owner or by all of the owners of
the property as provided in Paragraph (d) of Subdivision 3 of § 467
of the Real Property Tax Law of the State of New York.
(5)
Income shall not include veterans disability compensation as defined
in Title 38 of the United States Code, as provided in Paragraph (a)
of Subdivision 3 of § 467 of the Real Property Tax Law of
the State of New York.
[Added 1-7-2016 by L.L.
No. 1-2016]
[1]
Editor's Note: Former § 78-3, When
effective, was repealed 3-7-1991 by L.L. No. 1-1991.
