[Adopted 9-2-1980 by L.L. No. 6-1980; amended in its entirety 11-1-2022 by L.L. No. 9-2022]
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, or real property owned by spouses, one of whom is 65 years of age or over, who are eligible as set forth below shall be exempt from taxation by the Village of Hastings-on-Hudson for Village general taxes as hereinafter provided. Such exemption shall be computed after all other partial exemptions allowed by law have been subtracted from the total amount assessed. Said exemption is allowed to otherwise eligible senior citizens who become 65 after the taxable status date but before December 31 of the calendar year.
The percentage of exemption allowed shall be as follows:
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%
In order to be eligible for a partial exemption as set forth herein, the income of the owner or the combined income of the owners of the property from all sources as set forth in such § 467, as amended, for the income tax year immediately preceding the date of making application for exemption exceeds the sum of the maximum income exemption eligibility level for the granting of partial exemption from real property taxation as provided herein. "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 one spouse, their combined income may not exceed such sum. Such income shall include social security and retirement benefits, interest, dividends, net rental income, salary or earnings and the net income from self-employment but shall not include gifts or inheritances. Any such income shall be offset by all unreimbursed medical and prescription drug expenses not paid by insurance and/or veterans' disability compensation.
A. 
The application for exemption in accordance with the above shall be governed by the provisions of § 467 of the Real Property Tax Law, including those statutory provisions prescribing qualifications for and limitations on such exemptions, the application and processing procedures and the penalties for willful false statements. Application shall be filed with the Village of Hastings-on-Hudson Assessor.
B. 
Pursuant to the provisions of Subdivision 8 of § 467 of the Real Property Tax Law, the Village of Hastings-on-Hudson Assessor is hereby authorized to accept applications for renewal of exemptions granted under this article after the taxable status date. In the event that the owner or all of the owners of property which has received an exemption pursuant to this article on the preceding assessment roll shall fail to file an application for renewal on or before the taxable status date, such owner or owners may file the application, executed as if such application had been filed on or before the taxable status date, with the Assessor on or before the date set for the hearing of complaints.