[Adopted 1-6-1999 by L.L. No. 1-1999]
A local law entitled "Partial Tax Exemption
of Real Property Owned by Persons with Disabilities and Limited Incomes."
Pursuant to § 459-c of the New York
State 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 hereinafter defined, is limited by reason of disability, shall
be exempt from taxation by the City of Geneva to the extent of 50%
of the assessed valuation thereof, subject to the following conditions:
A.
The owner or all of the owners must file an application
annually in the Assessor's office on or before the appropriate taxable
status date or such other time as may hereafter be fixed by law. The
income of the owner, or the combined income of the owners, or the
combined income of the owners of the property and their respective
spouses, except as noted in Subdivision 5(a) of § 459-c
of the Real Property Tax Law, must not exceed the sum of $9,500 for
the calendar year immediately preceding the date for making application
for exemption. Such income shall include gross social security and
retirement benefits, interest, dividends, net capital gains of assets
within the same calendar year, net rental income, salary or earnings,
and net income from self-employment, but shall not include return
of capital, gifts or inheritances or moneys earned through employment
in the federal foster grandparent program.
B.
A sliding scale exemption pursuant to § 459-c,
Subdivision 1(b), of the Real Property Tax Law, in decrements of 5%,
from 45 to five, based on increments of defined income(s) over $9,500,
to a maximum of $17,899, shall be provided to property owners with
disabilities.
C.
The property must be used exclusively for residential
purposes, be occupied in whole or in part by the disabled person and
constitute the legal residence of the disabled person, except as noted
in Subdivision 5(b) and (c) of § 459-c of the Real Property
Tax Law.
The definition of disabled, disabilities, siblings
and income, and statutes, shall be that as prescribed in § 459-c
of the New York State Real Property Tax Law, and all other mandatory
provisions of said law shall apply to this article.
The effective date of this article shall be
the first taxable status date following the passage of this law thereof.
