[Adopted 11-13-1967 (Ch. 9, Art. II, of the Code of Ordinances)]
[Amended 3-12-1990 by Ord. No. 10-90]
A.
Pursuant to § 467 of the Real Property Tax Law, real property
owned by one or more persons, each of whom is 65 years of age or over,
shall be exempt from taxation by the City of Newburgh to the extent
of 50% of the assessed valuation thereof, subject to the conditions
of this article.
B.
Any person otherwise qualifying under § 467 of the Real
Property Tax Law shall not be denied the exemption under this section
if he becomes 65 years of age after the appropriate taxable status
date and before December 31 of the same year. This provision is adopted
at the option of the City of Newburgh pursuant to § 467,
Subdivision 5, of the Real Property Tax Law.
Exemption from taxation for school purposes shall not be granted
in the case of real property where a child resides if such child attends
a public school within the City School District.
[Last amended 3-16-2006 by Ord. No. 2-2006]
A.
No exemptions hereunder shall be granted:
(1)
If the income or the combined income of the owners of the property
for the income tax year immediately preceding the date of application
for exemption exceeds the sum of $29,000. "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
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 computing net income and net income
from 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.
[Amended 3-22-2010 by Ord. No. 1-2010]
(2)
Unless the title of the property shall have been vested in the owner
or all of the owners of 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.
Pursuant to § 467-d of the Real Property Tax Law of the
State of New York,[1] the maximum income eligibility level as set forth in Subsection A(1) of this section and shown in the hereinbelow schedule as "M" is hereby increased to the extent provided in the following schedule.
|
Annual Income
|
Percentage of Assessed Valuation Exempt From Taxation
| |
|---|---|---|
|
More than M but less than (M + $1,000)
|
45%
| |
|
(M + $1,000 or more) but less than (M + $2,000)
|
40%
| |
|
(M + $2,000 or more) but less than (M + $3,000)
|
35%
| |
|
(M + $3,000 or more) but less than (M + $3,900)
|
30%
| |
|
(M + $3,900 or more) but less than (M + $4,800)
|
25%
| |
|
(M + $4,800 or more) but less than (M + $5,700)
|
20%
| |
|
(M + $5,700 or more) but less than (M + $6,600)
|
15%
| |
|
(M + $6,600 or more) but less than (M + $7,500)
|
10%
| |
|
(M + $7,500 or more) but less than (M + $8,400)
|
5%
|
[1]
Editor's Note: Section 467-d of the Real Property Tax Law
was repealed by L. 1985, c. 440. For current provisions, see § 467
of the Real Property Tax Law.
[Amended 6-13-1988 by L.L. No. 4-1988]
Application for exemption hereunder must be made by the owner
or all of the owners of the property annually on forms to be furnished
by the Assessor's office and shall furnish the information and be
executed in the manner required or prescribed in such forms and shall
be filed annually in such Assessor's office on or before the appropriate
taxable status date.
Any conviction of having made any willful false statement in
the application for such exemption shall be punishable by a fine of
not more than $100 and shall disqualify the applicant or applicants
from further exemption for a period of five years.
[Added 7-14-1986 by L.L. No. 3-1986]
Pursuant to § 467, Subdivision 8, of the Real Property
Tax Law of the State of New York, the City Assessor be and hereby
is authorized to accept applications for the renewal of exemptions
pursuant to § 467 of the Real Property Tax Law after the
taxable status date if the owner or owners received such an exemption
on the immediately preceding assessment roll and such application,
executed as if such application had been filed on or before the tax
status date, is filed with the Assessor on or before the date for
the hearing of complaints.
