[Adopted 9-14-1967]
The purpose of this article is to grant a partial exemption
from taxation to the extent of 50% of the assessed valuation of real
property which is owned by certain persons with limited income who
are 65 years of age or over meeting the requirements set forth in
§ 467 of the Real Property Tax Law.
[Amended 2-10-1972; 4-10-1975; 7-12-1979, 11-5-1980; 9-2-1982; 4-12-1990 by L.L. No. 1-1990]
Real property owned by persons 65 years of age or over shall
be exempt from Town taxes to the extent of 50% of the assessed valuation
subject to the following conditions:
A.
The owner or all of the owners must file an application annually
in the assessor's office pursuant to the requirements of § 467
of the New York State Real Property Tax Law. The necessary forms may
be obtained from the Town Assessor. All the owners of the real property
must be 65 years of age or over on the date the application is filed.
The burden of proof is upon the applicants to show eligibility, and
they may be required to obtain and submit copies of their latest federal
and state income tax returns, social security statements, etc.
B.
No exemption shall be granted if the income or combined incomes of
the owners of the property for the income tax year immediately preceding
the year of making the application for exemption exceeds the following
income ranges, and the Assessor of the Town of Colden is directed
to utilize the amount of $24,000 as the maximum amount for a full
exemption of 50% as set forth in Real Property Tax Law § 467.
The percentage of exemption shall be based on the maximum annual income
ranges as follows:
[Amended 4-11-1991 by L.L. No. 1-1991; 6-8-1995 by L.L. No.
2-1995; 3-13-1997 by L.L. No. 2-1997; 4-13-2000 by L.L. No.
1-2000; 4-27-2005 by L.L. No. 1-2005; 11-15-2018 by L.L. No. 4-2018]
|
Maximum Annual Amount
|
Percentage
|
|---|---|
|
$0 to $27,000
|
50%
|
|
$27,001 to $27,999.99
|
45%
|
|
$28,000 to $28,999.99
|
40%
|
|
$29,000 to $29,999.99
|
35%
|
|
$30,000 to $30,899.99
|
30%
|
|
$30,900 to $31,799.99
|
25%
|
|
$31,800 to $32,699.99
|
20%
|
|
$32,700 to $33,599.99
|
15%
|
|
$33,600 to $34,499.99
|
10%
|
|
$34,500 to $35,399.99
|
5%
|
C.
Title to the property must be vested in the owner or all of the owners
of the property, pursuant to the requirements of § 467 of
the New York State Real Property Tax Law, prior to the date of making
application for exemption.
D.
The property must be used exclusively for residential purposes, be occupied in whole or in part by the owners and constitute the legal residence of the owners. Upon determination by the Assessor that the requirements of the statute have been met, the exemption, to the extent as provided in Subsection B above, shall be allowed, provided that the property so qualifies. The exemption does not apply to special ad valorem levies or special assessments.
E.
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.
F.
Veterans disability compensation.
[Added 11-15-2018 by L.L.
No. 4-2018]
(1)
Maximum annual income exclusion. The veterans disability compensation
from the United States Department of Veterans Affairs as defined in
Title 38 of the United States Code for a veteran with service-connected
disability shall be excluded from the calculation of income in the
determination of the real property exemptions provided herein.
(2)
Qualifications. The maximum income eligibility level exemption for
persons 65 years of age or older has authorized by § 467
of the Real Property Tax Law as of the appropriate taxable status
date and shall include an otherwise eligible owner who is 65 years
of age or older on the date the application is filed. The burden of
proof is upon the applicants to show eligibility as required by the
assessor.
