[HISTORY: Adopted by the Town Board of the
Town of Binghamton as indicated in article histories. Amendments noted
where applicable.]
[Adopted 9-7-1976 by L.L. No. 8-1976
as Ch. 28, Art. I, of the 1969 Code]
[Amended 4-15-2003 by L.L. No. 1-2003]
Pursuant to § 467 of the Real Property Tax Law, the Town Board of the Town of Binghamton hereby grants a tax exemption of 50% of assessed valuation on real property located in the Town of Binghamton and owned by persons 65 years of age or over, provided that the applicant for such exemption meets all of the requirements of § 467 of the Real Property Tax Law and the income of such applicant does not exceed the maximum figure set forth in § 199-4.
Application for such exemption shall be made
at the Town Offices.
[Added 12-17-1985 by L.L. No. 5-1985; 4-15-2003 by L.L. No.
1-2003]
Pursuant to Subdivision 8 of § 467
of the Real Property Tax Law, in the event that the owner or all of
the owners of property in the Town of Binghamton, who have received
an exemption pursuant to § 467 of the Real Property Tax
Law on the preceding assessment roll fail to file the application
required pursuant to said § 467 on or before the taxable
status date, such owner or owners may file the application, executed
as if such application had been filed on or before the taxable status
date, with the Assessor on or before the date for the hearing of complaints.
[Added 1-9-1988 by resolution; amended 2-7-1989 by L.L. No. 3-1989; 4-3-1990 by L.L. No. 1-1990; 2-5-1991 by resolution; 2-21-1991 by L.L. No. 1-1991; 1-21-1992 by L.L. No. 1-1992; 12-20-1994 by L.L. No. 3-1994; 4-15-2003 by L.L. No. 1-2003]
A.
Pursuant to § 467 of the Real Property Law
of the State of New York and this article, the following Schedule
of Partial Exemptions for Senior Citizens from Real Property Taxation
shall be adopted:
|
Annual Income
|
Percentage Assessed Valuation Exempt From
Taxation
| |
|---|---|---|
|
Up to $14,999
|
50%
| |
|
$15,000 but less than $16,000
|
45%
| |
|
$16,000 but less than $17,000
|
40%
| |
|
$17,000 but less than $18,000
|
35%
| |
|
$18,000 but less than $18,900
|
30%
| |
|
$18,900 but less than $19,800
|
25%
| |
|
$19,800 but less than $20,700
|
20%
| |
|
$20,700 but less than $21,600
|
15%
| |
|
$21,600 but less than $22,500
|
10%
|
B.
This schedule shall take effect for the Town's 1995
fiscal year and shall continue in effect for succeeding fiscal years
until further action is taken by the Town Board. Persons shall be
eligible for this exemption provided that their 65th birthday falls
within the fiscal year in which they claim the exemption.
[Adopted 7-12-2016 by L.L. No. 2-2016]
Pursuant to Real Property Tax Law § 458-b for certain
Cold War veterans who otherwise meet the criteria for such exemption:
Such an exemption would be applicable to general municipal taxes,
but not to school taxes, special ad valorem levies or special assessments.
In particular, the proposed exemption would read as follows: Section
458-b, Subdivision 2(a)(i) and (b), of the Real Property Tax Law is
hereby adopted and enacted for Town of Binghamton taxes as levied
in the Town of Binghamton wherein the maximum exemption allowable
shall be $4,000 for the provisions of § 458-b(2)(a)(i) and
$20,000 for the provisions of § 458-b2(b), all in accordance
with the provisions of § 458-b2(c)(iii) of the Real Property
Tax Law.
[Amended 1-16-2018 by L.L. No. 1-2018]
Pursuant to the Real Property Tax Law, all owners of property
in the Town of Binghamton who qualify for the above exemption must
file an application with the Assessor on or before the statutory date.
The expiration date herein in the Cold War veterans exemption is hereby
excluded so that there is no end or expiration date for qualified
persons to apply for said exemption.
