[Adopted 2-9-1983 by L.L. No. 2-1983 as
Ch. 170, Art. II, of the 1983 Code]
Real property, located in the Town/Village of
East Rochester, owned by one or more persons, each of whom is 65 years
or over, or if owned by husband and wife, if either is 65 years or
over, shall be exempt from taxation by the Town/Village of East Rochester
to the extent of 50% of the assessed valuation thereof.
[Last amended at time of adoption of Code
(see Ch. 1, General Provisions, Art. I)]
A.
No exemption
shall be granted:
(1)
Unless 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 is less than
the maximum allowable limit as stipulated in the schedule; such real
property shall be exempt to the extent provided in the following schedule
for the 2010 assessment roll and beyond:
|
Annual Income
|
Percentage of Assessed Valuation Exempt
from Taxation
|
|---|---|
|
Less than $29,000
|
50%
|
|
$29,000 to $29,999.99
|
45%
|
|
$30,000 to $30,999.99
|
40%
|
|
$31,000 to $31,999.99
|
35%
|
|
$32,000 to $32,899.99
|
30%
|
|
$32,900 to $33,799.99
|
25%
|
|
$33,800 to $34,699.99
|
20%
|
|
$34,700 to $35,599.99
|
15%
|
|
$35,600 to $36,499.99
|
10%
|
|
$36,500 to $37,400
|
5%
|
(2)
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.
(3)
Unless the property is used exclusively for residential
purposes.
(4)
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.
B.
"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. 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 or inheritances. In 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.
C.
Beginning with the 2022 assessment roll, the law now requires that
seniors applying for or renewing the senior citizens exemption (RPTL § 467)
provide a copy of their income tax return for a specific year. The
year of income tax return is based on the taxable status date of the
municipality. Taxable status date is March 1, which requires income
tax returns and income based upon two years prior. If no such tax
return is filed, income is based off of two years prior. Example:
2022 assessment roll utilizes 2020 tax returns and income.
[Added at time of adoption of Code (see Ch. 1, General Provisions,
Art. I)]
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]
Application for such exemption must be made
yearly by the owner or all of the owners of the property, on forms
available at the Assessor's office in the municipality in which the
property is located, and the owners shall furnish the information
requested, and said forms shall be executed in the manner required
or prescribed in such forms and shall be filed in said office prior
to March 1 of each year.
