[Adopted 1-23-1984 by L.L. No. 1-1984]
[Amended 2-27-2017 by L.L. No. 2-2017]
Pursuant to § 467 of the Real Property Tax Law of
the State of New York, real property owned by one or more persons,
each of whom is 65 years of age or over, or real property owned by
husband and wife, or by siblings, one of whom is 65 years of age or
over, shall be exempt from taxation by the Town of Wheatfield, New
York, to an extent of up to 50% of the assessed valuation thereof,
subject to the following conditions: the exemption shall be based
upon the income as described in § 467 of the Real Property
Tax Law of the owner or the combined income of the owners of the property
and shall be as follows:
|
Annual Income
|
Assessed Valuation Exempt From Taxation
(percent)
|
|---|---|
|
Less than $21,000
|
50%
|
|
$21,000 to $21,999.99
|
45%
|
|
$22,000 to $22,999.99
|
40%
|
|
$23,000 to $23,999.99
|
35%
|
|
$24,000 to $24,899.99
|
30%
|
|
$24,900 to $25,799.99
|
25%
|
|
$25,800 to $26,699.99
|
20%
|
|
$26,700 to $27,599.99
|
15%
|
|
$27,600 to $28,499.99
|
10%
|
A.
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,
rental income, salary or earnings and income from self-employment,
but shall not include gifts or inheritance.
B.
No exemption shall be granted unless the title of
the property shall have been vested in the owner or all 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 by or 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 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 proceeding,
except a tax sale, the period of ownership of the property for which
application is made for exemption and such periods of ownership shall
be deemed to be consecutive for purposes of this section.
C.
No exemption shall be granted unless the property
is used exclusively for residential purposes.
D.
No exemption shall be granted 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.
The real property tax exemption on real property
owned by husband and wife, one of whom is 65 years of age or over,
once granted shall not be rescinded by any municipal corporation solely
because of the death of the older spouse so long as the surviving
spouse is at least 62 years of age.
