Real property within the town owned by persons 65 years of age
or over or other persons qualifying pursuant to § 467 of
the Real Property Tax law (hereinafter referred to as "§ 467")
shall be exempt from town taxes to the extent of 50% of the assessed
valuation, subject to the following conditions:
A. Application for such exemption must be made annually by all the owners
of the property on the official form available from the Town Assessors
and shall be filed in the Assessor's office on or before the first
day of March.
B. The combined income, as such term is defined in § 467,
of the owners shall not exceed $14,300 for the income tax year immediately
preceding the taxable status date.
[Amended 2-19-2001 by L.L. No. 1-2001; 8-18-2008 by L.L. No.
1-2008]
C. The applicants must meet all the other requirements for the exemption
as set forth in § 467, as amended from time to time. Any
applicant otherwise qualified shall not be denied the exemption if
the applicant becomes 65 years of age after the taxable status date
and on or before December 31 of the same year.
[Amended 3-15-1999 by L.L. No. 3-1999]
D. For combined incomes in excess of $14,300, the maximum income eligibility
level pursuant to this article and the extent of exemption shall be
as provided in the following schedule:
[Amended 3-16-1992 by L.L. No. 1-1992; 2-20-1995 by L.L. No.
1-1995; 2-19-2001 by L.L. No. 1-2001; 8-18-2008 by L.L. No.
1-2008]
Annual Income
|
Percentage of Assessed Valuation Exempt from Taxation
|
---|
More than $14,300 but less than $15,300
|
45%
|
$15,300 or more but less than $16,300
|
40%
|
$16,300 or more but less than $17,300
|
35%
|
$17,300 or more but less than $18,200
|
30%
|
$18,200 or more but less than $19,100
|
25%
|
$19,100 or more but less than $20,000
|
20%
|
E. As authorized by Subdivision 8 of § 467, the Assessor of
the Town of Johnstown shall accept applications for renewal of exemptions
after the taxable status date and on or before the date for hearing
of complaints, which applications shall be executed as if filed on
or before the taxable status date.
[Added 3-16-1992 by L.L. No. 1-1992]