[Adopted 11-6-1989 by resolution]
Any real property located in the Village of
Tarrytown shall be exempt from taxation by the Village to the extent
of 50% of the assessed valuation thereof, pursuant to § 467
of the Real Property Tax Law, provided that:
A.
All of the owners of said real property are 65 years
of age or over or, where the owners are husband and wife, either the
husband or the wife must be 65 years of age or over.
B.
As of the taxable status date, May 1, 2023, 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 the
application for exemption does not exceed the sum of $50,000. Where
title to the property is vested in either the husband or wife, their
combined income may not exceed such sum. Such income shall include
social security and retirement benefits, interest dividends, rental
income, salary or earnings and income from self-employment but shall
not include gifts or inheritances. In connection with any application
for exemption, the applicant shall furnish the Board of Assessors
such evidence of the income or combined income as the Board of Assessors
may require.
[Amended 11-19-2001 by L.L. No. 9-2001; 11-1-2004; 10-17-2005 by L.L. No. 13-2005; 11-5-2007 by L.L. No.
12-2007; 11-7-2011 by L.L. No. 11-2011; 11-7-2022 by L.L. No. 9-2022]
C.
In the event that the income referenced in Subsection B exceeds $50,000, the following income schedule shall apply:
[Amended 11-19-2001 by L.L. No. 9-2001; 11-1-2004; 11-5-2007 by L.L. No. 12-2007; 11-7-2011 by L.L. No.
11-2011; 11-7-2022 by L.L. No. 9-2022]
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
| |
|---|---|---|
|
$0 to $50,000
|
50%
| |
|
$50,000.01 to $50,999.99
|
45%
| |
|
$51,000 to $51,999.99
|
40%
| |
|
$52,000 to $52,999.99
|
35%
| |
|
$53,000 to $53,899.99
|
30%
| |
|
$53,900 to $54,799.99
|
25%
| |
|
$54,800 to $55,699.99
|
20%
| |
|
$55,700 to $56,599.99
|
15%
| |
|
$56,600 to $57,499.99
|
10%
| |
|
$57,500 to $58,399.99
|
5%
|
D.
The title to the property shall have been vested in
the owner or all of the owners of the property for at least 12 consecutive
months prior to the date of making application for exemption.
[Amended 10-17-2005 by L.L. No. 13-2005]
E.
The property is used exclusively for residential purposes.
F.
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 said property.
[Amended 11-4-2002 by L.L. No. 9-2002; 11-5-2007 by L.L. No.
12-2007]
Application for such exemption must be made
by the owner or all of the owners of the property on forms to be furnished
by the Board of Assessors of the Village. Said application shall furnish
all the information and shall be executed in the manner required or
described in such forms and shall be filed with the Board of Assessors
no later than December 17, 2007.
[Amended 11-4-2002 by L.L. No. 9-2002; 11-21-2005 by L.L. No.
17-2005; 11-5-2007 by L.L. No. 12-2007]
This article shall apply only to real estate
taxes for the fiscal year commencing June 1, 2008.
This article shall allow provisions enacted
under Chapter 395 of the Laws of 1989 relative to the information
provided by applicants who have had an over-sixty-five exemption for
a minimum of five consecutive years.
