[Adopted 9-14-1970 by L.L. No. 2-1970]
[Amended 9-26-1977 by L.L. No. 16-1977]
A. 
Pursuant to § 467 of the Real Property Tax Law, as amended, real property owned by one or more persons, each of whom will be 65 years of age or over during the taxable status year, or real property owned by husband and wife, one of whom will be 65 years of age or over during the taxable status year, shall be exempt from taxation by the Incorporated Village of Lynbrook to the extent of the following percentage of assessed valuation thereof:
[Amended last 4-24-2023 by L.L. No. 5-2022]
Annual Income
Percentage of Assessed Valuation Exempt From Taxation
Less than $34,000
50%
At least $34,000 but less than $34,250
45%
At least $34,250 but less than $34,500
40%
At least $34,500 but less than $34,750
35%
At least $34,750 but less than $35,000
30%
At least $35,000 but less than $35,800
25%
At least $35,800 but less than $36,700
20%
At least $36,700 but less than $37,600
15%
At least $37,600 but less than $38,500
10%
At least $38,500 but less than $42,400
5%
B. 
Such exemption shall be computed after all other partial exemptions allowed by law have been subtracted from the total amount assessed and shall be applicable to the assessment roll for the taxable year immediately following application for exemption.
C. 
The real property tax exemption on real property owned by husband and wife, one of whom will be 65 years of age or over during the taxable status year, once granted, shall not be rescinded solely because of the death of the older spouse, so long as the surviving spouse is at least 62 years of age.
[Amended 10-16-1989 by L.L. No. 2-1989]
No exemption shall be granted:
A. 
Income of owner(s): if the income of the owner or combined income of the owners of the property exceeds the sum of $42,400 for the income-tax year immediately preceding the date of making application for exemption. Where title is vested in either 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 last 4-24-2023 by L.L. No. 5-2022]
B. 
Duration of title. 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 the application for exemption.
[Amended 9-26-1977 by L.L. No. 16-1977]
C. 
Use of property. Unless the property is used exclusively for residential purposes.
D. 
Occupancy of property. 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.
Application for such exemption must be made by the owner or all of the owners of the property, on forms prescribed by the State Board, to be furnished by the Assessor of the Incorporated Village of Lynbrook, and shall furnish the information and be executed in the manner required or prescribed in such forms and shall be filed in such assessor's office on or before the taxable status date.
At least 60 days prior to the appropriate taxable status date, the Assessor of the Incorporated Village of Lynbrook 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 on or before the taxable status date 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 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.