[HISTORY: Adopted by the Board of Trustees of the Village of New
York Mills as indicated in article histories. Amendments noted where applicable.]
[Adopted 11-27-1973 as Ch.
81 of the 1973 Code]
Real property in the Village of New York Mills owned by one or more
persons, each of whom is 65 years of age or over, or real property owned by
husband and wife, one of whom is 65 years of age or over, shall be exempt
from taxation by the Village to the extent of 50% of the assessed valuation
thereof.
No exemptions shall be granted:
A.
If the income of the owner or the combined income of
the owners of the property exceeds the sum of $10,000 for the income tax year
immediately preceding the date of making application for exemption. Income
tax year shall mean a 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 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, 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. In computing net rental income
and net income from self-employment no depreciation deduction shall be allowed
for the exhaustion, wear and tear of real or personal property held for the
production of income.
B.
Unless the title of the property shall have been vested
in the owner or all of the owners of the property for at least 12 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, provided, further, that in the event of a transfer
by either a husband or wife to the other spouse of all or part of the title
to the property the time of ownership of the property by the transferor spouse
shall be deemed also a time of ownership by the transferee spouse 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, and further provided that where a residence is sold and replaced
with another within one year and is in the same assessment unit, the period
of ownership of the former property shall be combined with 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.[2]
C.
Unless the property is used exclusively for residential
purposes.
D.
Unless the 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 Village shall notify or cause to be notified each person owning
residential real property in the Village of the provisions of this article.
The provisions of this section may be met by a notice or legend sent on or
with each tax bill to such persons reading "You may be eligible for senior
citizen tax exemptions. For information please call or write . . . ," followed
by the name, telephone number and/or address of the person or department selected
by the Village to explain the provisions of this article. Failure to notify,
or cause to be notified any person who is in fact eligible to receive the
exemption provided by this article 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.
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 Village Assessor's office and shall be filed in the Assessor's office
on or before the taxable status date of the Village.
At least 60 days prior to the appropriate taxable status date, the Village
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 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 the 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 statements 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.
