[Adopted 3-1-1973 as Art. XIII of Sub-Part C of Part I
of the 1973 Code; last amended in its entirety by L.L. No. 1-1990]
[Amended 2-4-1999 by L.L. No. 2-1999; 2-1-2001 by L.L. No. 2-2001; 3-6-2003 by L.L. No. 3-2003; 3-4-2004 by L.L. No. 2-2004; 3-22-2007 by L.L. No.
1-2007]
Real property shall be exempt from taxation
to the extent provided in the schedule herein, if:
A.Â
Owned by one or more persons, each of whom is 65 years
of age or older or will become 65 years of age on or before December
31 of the same year of the appropriate taxable status date; or
B.Â
Owned by husband and wife, one of whom is 65 years
of age or older or will become 65 years of age before December 31
of the same year of the appropriate taxable status date.
|
Annual Income
Tentative Assessment Roll
| ||||
|---|---|---|---|---|
|
2007
|
2008
|
2009
|
2010
|
Percentage Assessed Valuation
Exemp From Taxation
|
|
$26,000 or less
|
$27,000 or less
|
$28,000 or less
|
$29,000 or less
|
50%
|
|
$26,001 to $27,000
|
$27,001 to $28,000
|
$28,001 to $29,000
|
$29,001 to $30,000
|
45%
|
|
$27,001 to $28,000
|
$28,001 to $29,000
|
$29,001 to $30,000
|
$30,001 to $31,000
|
40%
|
|
$28,001 to $29,000
|
$29,001 to $30,000
|
$30,001 to $31,000
|
$31,001 to $32,000
|
35%
|
|
$29,001 to $29,900
|
$30,001 to $30,900
|
$31,001 to $31,900
|
$32,001 to $32,900
|
30%
|
|
$29,901 to $30,800
|
$30,901 to $31,800
|
$31,901 to $32,800
|
$32,901 to $33,800
|
25%
|
|
$30,801 to $31,700
|
$31,801 to $32,700
|
$32,801 to $33,700
|
$33,801 to $34,700
|
20%
|
|
$31,701 to $32,600
|
$32,701 to $33,600
|
$33,701 to $34,600
|
$34,701 to $35,600
|
15%
|
|
$32,601 to $33,500
|
$33,601 to $34,500
|
$34,601 to $35,500
|
$35,601 to $36,500
|
10%
|
|
$33,501 to $34,400
|
$34,501 to $35,400
|
$35,501 to $36,400
|
$36,501 to $37,400
|
5%
|
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 school district.
No exemption shall be granted:
A.Â
If the income of the owner or the combined income
of the owners of the property exceeds the sum of $29,900 for the calendar
year preceding the date of making application for exemption. Where
title is vested in either the husband or the wife, 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 net income from self-employment, but shall not include
gifts or inheritances; and any such income shall be offset by all
medical and prescription drug expenses actually paid which were not
reimbursed or paid for by insurance.
[Amended 1-7-1999 by L.L. No. 7-1998; 2-4-1999 by L.L. No. 2-1999; 2-1-2001 by L.L. No. 2-2001; 3-6-2003 by L.L. No. 3-2003]
B.Â
Unless the title of the property shall have been vested
in the owner or one of the owners of the property for at least 24
consecutive months prior to the date of making application for exemption;
provided, however, that in the event of the death of either a husband
or wife in whose name title of the property shall have been vested
at the time of death and then becomes vested solely in the survivor
by virtue of devise or by descent from the deceased husband or wife,
the time of ownership of the property by the deceased husband or wife
shall be deemed also a time of ownership by the survivor and such
ownership shall be deemed continuous for the purposes of computing
such period of 24 consecutive months; and provided further that, in
the event of a transfer by either a husband or wife to the other spouse
of all or part of the title to the property, the time of ownership
by the transferee spouse and such ownership shall be deemed continuous
for the purposes of computing such period of 24 consecutive months;
and provided further that, in the event of a transfer by either a
husband or wife to the other spouse of all or part of the title the
time of ownership by the transferor spouse shall be deemed also a
time of ownership by the transferee spouse and such ownership shall
be deemed contiguous for the purposes of computing such period of
24 consecutive months; and provided further that where property of
the owner or owners has been acquired to replace property formerly
owned by such owner or owners and taken by eminent domain or other
involuntary proceedings, except a tax sale, and further provided that,
where a residence is sold and replaced with another within one year
and in the same assessment unit, the period of ownership of the former
property shall be combined with the period of ownership of the property
for which application is made for exemption, and such period of ownership
shall be deemed to be consecutive for purposes of this section;
[Amended by L.L. No. 3-1997]
C.Â
Unless the property is used exclusively for residential
purposes; and
D.Â
Unless the real property is the legal residence of
and is occupied in whole or in part by the owner or by all the owners
of the property.
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 City Assessor's office and shall include the information and
be executed in the manner required or prescribed in such forms and
shall be filed in such assessor's office at least 90 days before the
day for filing the final assessment roll.
At least 60 days prior to the appropriate taxable
status date, the City Assessor shall mail to each person, who was
granted exemption pursuant to this section on the latest completed
assessment roll, an application form and a notice that such application
must be filed at least 90 days before the date for filing the final
assessment roll, and be approved, in order for the exemption to be
granted. Failure to mail any such application form and notice or the
failure of such person to receive the same shall not prevent the levy,
collection and enforcement of the payment of the taxes on property
owned by such person.
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.
