Annual Income
|
Percentage of Assessed Value Exempt From
Taxation
| |
---|---|---|
$0 to $26,000
|
50%
| |
$26,001 to $26,999
|
45%
| |
$27,000 to $27,999
|
40%
| |
$28,000 to $28,999
|
35%
| |
$29,000 to $29,899
|
30%
| |
$29,900 to $30,799
|
25%
| |
$30,800 to $31,699
|
20%
| |
$31,700 to $32,599
|
15%
| |
$32,600 to $33,499
|
10%
| |
$33,500 to $34,399
|
5%
|
Annual Income
|
Percentage of Assessed Value Exempt From
Taxation
| |
---|---|---|
$0 to $27,000
|
50%
| |
$27,001 to $27,999
|
45%
| |
$28,000 to $28,999
|
40%
| |
$29,000 to $29,999
|
35%
| |
$30,000 to $30,899
|
30%
| |
$30,900 to $31,799
|
25%
| |
$31,800 to $32,699
|
20%
| |
$32,700 to $33,599
|
15%
| |
$33,600 to $34,499
|
10%
| |
$34,500 to $35,399
|
5%
|
Annual Income
|
Percentage of Assessed Value Exempt From
Taxation
| |
---|---|---|
$0 to $28,000
|
50%
| |
$28,001 to $28,999
|
45%
| |
$29,000 to $29,999
|
40%
| |
$30,000 to $30,999
|
35%
| |
$31,000 to $31,899
|
30%
| |
$31,900 to $32,799
|
25%
| |
$32,800 to $33,699
|
20%
| |
$33,700 to $34,599
|
15%
| |
$34,600 to $35,499
|
10%
| |
$35,500 to $36,399
|
5%
|
Annual Income
|
Percentage of Assessed Value Exempt From
Taxation
| |
---|---|---|
$0 to $29,000
|
50%
| |
$29,001 to $29,999
|
45%
| |
$30,000 to $30,999
|
40%
| |
$31,000 to $31,999
|
35%
| |
$32,000 to $32,899
|
30%
| |
$32,900 to $33,799
|
25%
| |
$33,800 to $34,699
|
20%
| |
$34,700 to $35,599
|
15%
| |
$35,600 to $36,499
|
10%
| |
$36,500 to $37,399
|
5%
|
1.
|
The income of the owner or the combined income of the owners of the property for the income tax year immediately preceding the date of making application for exemption must not exceed the maximum income exemption eligibility level as set forth in § 116-2. For purposes of determining eligibility, "income" shall be computed pursuant to Real Property Tax Law § 459-c and consist of the "adjusted gross income" for federal income tax purposes as reported on the applicant's federal or state income tax return for the income tax year specified above, subject to any subsequent amendments or revisions, and including tax-exempt interest or dividends that were excluded from the applicant's federal adjusted gross income, plus any social security benefits not included in such federal adjusted gross income. In accordance with Real Property Tax Law § 459-c, "income" shall include distributions received from an individual retirement account or individual retirement annuity that were included in the applicant's federal adjusted gross income. Losses applied to reduce an applicant's federal adjusted gross income shall be subject to the limitations specified in Real Property Tax Law § 459-c. For purposes of determining income eligibility, the calculation of total income shall not include a veteran's disability compensation. "Income tax year" shall mean the twelve-month period for which the owner or owners file a federal personal income tax return or, if no such return is filed, the calendar year.
[Amended 3-5-2024 by L.L. No. 2-2024] | |
2.
|
Only that portion of property used exclusively
for residential purposes shall be eligible for exemption pursuant
to this chapter.
| |
3.
|
Except as otherwise provided for in New York
State Real Property Tax Law § 459-c, to be eligible for
exemption pursuant to this chapter, property must be the legal residence,
and be occupied, in whole or in part, by the disabled person.
| |
4.
|
Any exemption provided by this chapter 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 both an exemption pursuant to this chapter
and a senior citizens' tax exemption pursuant to Chapter 470 of the
Laws of Westchester County.
| |
5.
|
Notwithstanding any other provision of this
chapter to the contrary, the provisions of this chapter shall apply
to real property held in trust solely for the benefit of a person
or persons who would otherwise be eligible for a real property tax
exemption, pursuant to this chapter, were such person or persons the
owner or owners of such real property.
|