[Adopted 10-10-1994 by L.L. No. 1-1994]
[Amended 1-10-2022 by L.L. No. 2-2022]
Pursuant to § 467 of the New York State Real Property Tax Law, 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, one of whom is 65 years of age or over, shall be exempt from Town of South Bristol taxes to the extent shown below of the assessed valuation thereof as determined by the owner's or owners' corresponding annual income:
Annual Income
Reduction
$0 to $19,300.00
50%
$19,300.01 to $20,299.99
45%
$20,300.00 to $21,299.99
40%
$21,300.00 to $22,299.99
35%
$22,300.00 to $23,199.99
30%
$23,200.00 to $24,099.99
25%
$24,100.00 to $24,999.99
20%
$25,000.00 to $25,899.99
15%
$25,900.00 to $26,799.99
10%
$26,800.00 to $27,699.99
5%
$27,700.00 or more
0%
This increase shall be effective with the 2022 assessment roll.
No exemption shall be granted:
A. 
If the income of the owner or the combined income of the owners of the property for the income tax year (“income tax year” shall have the meaning ascribed to it in § 467 of the New York State Real Property Tax Law) is equal to or exceeds the annual income amount set forth in § 153-6 hereof showing a 0% reduction. Where the 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 or wear and tear of real or personal property held for the production of income.
[Amended 1-10-2022 by L.L. No. 2-2022]
B. 
Unless the title of the property shall have been vested in the owner or one of the owners of the property for at least 24 consecutive months prior to the making of application for exemption.
C. 
Unless the real property is the legal residence of and is occupied, in whole or in part, by the owner or by all the owners of the property; provided, however, that in the event that any portion of such property is not so used exclusively for residential purposes but is used for other purposes, such portion shall be subject to taxation, and the remaining portion only shall be entitled to the exemption provided by this article.
D. 
Unless the real property is the legal residence of and is occupied, in whole or in part, by the owner or by all the owners of the property, provided that the owner who is absent while receiving health-related care as an inpatient of a residential health-care facility as defined in § 2801 of the Public Health Law shall be deemed to remain a legal resident and an occupant of the property while so confined, and income accruing to that person shall be income only to the extent that it exceeds the amount paid by such owner, spouse or co-owner for care in the facility, and provided, further, that during such confinement such property is not occupied by other than the spouse or co-owner of such owner.
Application for such exemptions must be made by the owner or all of the owners of the property on forms presented by the State Board to be furnished by the Assessor's office at the Town Clerk's office, Naples, New York, and shall furnish the information and be executed in the manner required or prescribed in such form and shall be filed in such Assessor's office on or before the appropriate taxable status date.
A. 
Application for such exemption shall be filed in the Assessor's office of the Town Clerk's office, Route 64, Naples, New York, at least 90 days before the day for filing the final assessment roll, with such exemption to apply on Town of South Bristol taxes due the first of January of each year.
B. 
Application for such exemption must be filed with the Assessor's office of the Town of South Bristol for each succeeding year and at least 90 days before the day for filing the final assessment roll of each succeeding year.
Said Assessor may require any applicant to furnish such other and further information as may be reasonably necessary to establish qualifications for exemption of such applicant and may establish such rules and procedures and take such other steps as may be necessary to implement the provisions of this article.