Town of Eden, NY
Erie County
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Table of Contents
Table of Contents
[Adopted 3-24-1999 by L.L. No. 1-1999]
This article shall be known and cited as a "Local Law Providing a Partial Exemption from Taxation by the Town of Eden to Persons 65 Years of Age or Older Pursuant to the Provisions of § 467 of the Real Property Tax Law of the State of New York."
A. 
Basis and computation of exemption.
(1) 
Real property situate within the bounds of the Town of Eden, Erie County, New York, owned by one or more persons, each of whom is 65 years of age, or real property owned by husband and wife or siblings, one of whom is 65 years of age or over, shall be exempt from taxation for real estate taxes to be levied by the Town of Eden for the year 1997 and thereafter by the percentage of exemption specified for the annual income ranges listed below. Such exemption shall be based upon the assessed valuation of the exempt real property and shall be computed after all other partial exemptions allowed by law have been subtracted from the total amount assessed.
(2) 
The exemption provided by this article shall be based upon the following income scale:
[Amended 5-24-2000 by L.L. No. 3-2000]
Annual Income
Percentage of Exemption
$14,400 or less
50%
$14,401 to $15,400
45%
$15,401 to $16,400
40%
$16,401 to $17,400
35%
$17,401 to $18,300
30%
$18,301 to $19,200
25%
$19,201 to $20,100
20%
$20,101 to $21,000
15%
$21,001 to $21,900
10%
$21,901 to $22,800
5%
B. 
If you have any questions or need further information, call the Board of Assessors' office (992-9135). Failure to file by June 1 may prevent us from extending the benefit of law to you. Any person otherwise qualifying for the tax exemption provided for in this section shall not be denied the exemption on the basis that they are not 65 years of age as of the filing date mentioned above, provided that such person will become 65 years of age on or before December 31 of the year in which they file for such exemption.
[Amended 5-10-2000 by L.L. No. 2-2000]
Annual income shall include 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 an application for exemption. "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 in such circumstances wherein only the income of a resident owner is permitted to be considered under the provisions of § 467 of the New York Real Property Tax Law. 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 or earnings and net income from self-employment, but shall not include a return of capital, gifts or inheritances or moneys earned through employment in the federal foster grandparent program. In computing net rental income and net income from self-employment, no depreciation shall be allowed for the exhaustion, wear and tear of real or personal property held for the production of income.