Real property shall be exempt from taxation to the extent provided in the schedule herein, if it is owned by one or more persons with disabilities or if it is owned by a husband, wife, or both, or by siblings, at least one of whom has a disability, and whose income, as hereafter defined, is limited by reason of such disability. Such real property shall be exempt from taxation to the extent of 50% of the assessed valuation thereof, as hereinafter provided.
[Adopted 3-4-1999 by L.L. No. 3-1999; amended 2-1-2001 by L.L. No. 1-2001; 3-6-2003 by L.L. No. 2-2003; 3-4-2004 by L.L. No. 1-2004]
[Amended 3-22-2007 by L.L. No. 2-2007; 2-22-2024 by L.L. No. 1-2024]
Real property tax exemptions for persons with disabilities are linked to annual income and based on a percentage of assessed valuation of property as indicated in the schedule that follows.
Annual Income | Percentage of Assessed Valuation Exempt From Taxation |
|---|---|
$40,000 or less | 50% |
For purposes of this article, the following terms shall have the meanings indicated:
One who has a physical or mental impairment, not due to current use of alcohol or illegal drugs, which substantially limits such person's ability to engage in one or more major life activities, such as caring for one's self, performing manual tasks, walking, seeing, hearing, speaking, breathing, learning and working, and who is: certified to receive Social Security Disability Insurance (SSDI); certified to receive Railroad Retirement Disability benefits under the Federal Railroad Retirement Act; or has received a certificate from the State Commission for the Blind and Visually Handicapped stating that such person is legally blind. An award letter from the Social Security Administration or the Railroad Retirement Board or a certificate from the State Commission for the Blind and Visually Handicapped shall be submitted as proof of disability.
A brother or a sister, whether related through half blood, whole blood, or adoption.
Any exemption provided by this article shall be computed after all other partial exemptions allowed by law have been subtracted from the total amount assessed; provided, however, that no parcel may receive an exemption pursuant to both this article and Article IV, Senior Citizens Exemption, of this chapter, as amended.
[Amended 2-22-2024 by L.L. No. 1-2024]
No exemption shall be granted:
A.
If the income of the owner or the combined income of the owners of the property making application for exemption applicable to the exemption exceeds the sum of $40,000 for the income tax year applicable to the exemption. Because the City's taxable status date is March 1, the applicable income tax year shall be the second most recent calendar year, and shall include 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 a married person, the combined income of such person and such person's spouse may not exceed such sum. However, where one spouse or ex-spouse is absent from the property due to divorce, legal separation, or abandonment, then only the income of the spouse or ex-spouse residing on the property shall be considered and 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 distributions received from an individual retirement account or individual retirement annuity that were included in the applicant's federal adjusted gross income, nor a return of capital, gifts, inheritances, or money earned through employment in the federal foster grandparent program; or
B.
Unless the real property is the legal residence of and is occupied in whole or in part by the disabled person; except where the disabled person is absent from the residence while receiving health-related care as an inpatient of a residential health care facility, as defined in New York Public Health Law § 2801, provided that any income accruing to that person shall be considered income for purposes of this section only to the extent that it exceeds the amount paid by such person or spouse or sibling of such person for care in the facility.
A.
Title to that portion of real property owned by a cooperative apartment corporation in which a tenant-stockholder of such corporation resides, and which is represented by his/her share or shares of stock in such corporation as determined by its or their proportional relationship to the total outstanding stock of the corporation, including that owned by the corporation, shall be deemed to be vested in such tenant-stockholder.
B.
That proportion of the assessment of such real property owned by a cooperative apartment corporation, determined by the relationship of such real property vested in such tenant-stockholder to such entire parcel and the buildings thereon owned by such cooperative apartment corporation in which such tenant-stockholder resides, shall be subject to exemption from taxation pursuant to this article, and any exemption so granted shall be credited by the appropriate taxing authority against the assessed valuation of such real property; the reduction in real property taxes realized thereby shall be credited by the cooperative apartment corporation against the amount of such taxes otherwise payable by or chargeable to such tenant-stockholder.
Application for such exemption must be made annually by the owner, or all of the owners of the property, on forms prescribed by the State Board, and shall be filed in the office of the Assessor for the City of Troy on or before June 1 of each year; provided, however, proof of a permanent disability need be submitted only in the year exemption pursuant to this article is first sought or the disability is first determined to be permanent.
At least 60 days prior to the appropriate taxable status date, the Assessor shall mail, to each person who was granted exemption pursuant to this article on the latest completed assessment roll, an application form and a notice that such application must be filed on or before June 1, and be approved, in order for the exemption to continue to be granted. Failure to mail such application form 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.
Notwithstanding any other provision of law to the contrary, the provisions of this article shall apply to real property held in trust solely for the benefit of a person or persons who would otherwise by eligible for a real property tax exemption, pursuant to § 257-21 of this article, were such person or persons the owner or owners of such real property.