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Village of Lake Success, NY
Nassau County
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Table of Contents
Table of Contents
[Adopted 10-18-1982 by L.L. No. 3-1982]
[Amended 12-8-1986 by L.L. No. 4-1986; 2-12-1990 by L.L. No. 1-1990; 12-10-1990 by L.L. No. 3-1990; 1-13-1992 by L.L. No. 1-1992; 12-14-1992 by L.L. No. 7-1992; 12-12-1994 by L.L. No. 5-1994; 11-18-1996 by L.L. No. 5-1996; 12-10-2007 by L.L. No. 5-2007]
Pursuant to the provisions of § 467 of the Real Property Tax Law of the State of New York, and as therein provided, the 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 Village as hereinafter provided. Such exemptions shall be computed after all other partial exemptions allowed by law have been subtracted from the total amounts assessed.
Maximum Annual Income
From
To
Percentage of Assessed
Valuation Exempt from Taxation
$0
27,000
50%
27,001
28,000
45%
28,001
29,000
40%
29,001
30,000
35%
30,001
30,900
30%
30,901
31,800
25%
31,801
32,700
20%
32,701
33,600
15%
33,601
34,500
10%
[Amended 3-4-1985 by L.L. No. 1-1985; 12-8-1986 by L.L. No. 4-1986; 12-14-1992 by L.L. No. 7-1992; 12-12-1994 by L.L. No. 5-1994; 11-18-1996 by L.L. No. 5-1996]
No exemptions shall be granted:
A. 
Income of owner(s). If the income of the owner or the combined income of the owners of the property exceeds the sum of $34,500 for the income tax year immediately preceding the date of making application for exemption. Where title is vested in 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.
[Amended 3-14-2011 by L.L. No. 1-2011]
B. 
Unless the title of the property shall have been vested in the owner or in one of the owners of the property for at least 24 consecutive months prior to the date of making application for an exemption, subject to the provisions of § 467, Subdivision 3(b), of the Real Property Tax Law.
C. 
Unless the property is used exclusively for residential purposes.
D. 
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.
[Amended 12-14-1992 by L.L. No. 7-1992]
A. 
Application for such exemption must be made annually by the owner or by all of the owners of the property on forms to be furnished by the Village Assessors, and the applicant or applicants shall furnish the information and execute the forms in the manner required in or prescribed by such forms, and it shall be filed annually in such Assessors' office on or before the tax status date fixed by the Village.
B. 
An application for a senior citizen exemption may be filed after the taxable status date but prior to the last date for filing of grievances where failure to file a timely application resulted from hardship conditions, i.e., death or illness in the family, which actually prevent timely application.
Any conviction of having made any willful false statements 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 exemptions for a period of five years.