[Adopted 11-29-1966 (Ch. 51, Art. I, of the 1972 Code)]
[Amended 11-22-1983 by L.L. No. 11-1983; 11-7-1991 by L.L. No. 16-1991]
All real property in the Village of Nyack owned by one or more persons, one of whom is 65 years of age or over, shall be exempt to the extent of 50% of the existing value as shown on the Village assessment roll, provided that the requirements set forth in § 305-16A through D are complied with. If the requirements of § 305-16A through C and E, but not D, are complied with, the exemption shall be limited to the percentages set forth in § 305-16E.
[Amended 10-14-1971; 7-24-1975 by L.L. No. 7-1975; 9-22-1977 by L.L. No. 4-1977; 9-10-1981 by L.L. No. 2-1981; 11-22-1983 by L.L. No. 11-1983]
In order to qualify for an exemption, the following requirements must be met:
A. 
The owner or one of the owners of the real property must be 65 years of age or over on the date the application is filed.
B. 
Title to the property shall have been vested in the owner or owners of the property for at least 24 months prior to the date of the application.
C. 
The property must be used exclusively for residential purposes and be occupied in whole or in part by the owner or owners and be their legal residence.
D. 
The combined income of all of the owners of the property must have been $15,000 or less during the 12 consecutive months immediately preceding the date of making the application for exemption. Where the title to property is vested in either a husband or a wife, the combined income of the husband and wife may not exceed $15,000. "Income" shall include all social security and retirement payments, interest, dividends, rental income, salaries or other earnings, including income from self-employment. "Income" does not include gifts or inheritances received during the twelve-month period.
[Amended 10-8-1987 by L.L. No. 7-1987; 11-7-1991 by L.L. No. 16-1991]
E. 
If said combined income, pursuant to Subsection D above, exceeds $15,000 per annum, then the exemption will be limited to the percentages set forth in the following schedule:
Annual Income
Percentage of Assessed Valuation Exempt From Taxation
$15,000 to $15,999
45
$15,600 to $16,199
40
$16,200 to $16,799
35
$16,800 to $17,399
30
$17,400 to $17,999
25
$18,000 to $18,599
20
[Amended 11-7-1991 by L.L. No. 16-1991]
An application for exemption pursuant to this article must be made by the owner or all of the owners of the property on forms furnished by the Village Clerk's office. Said forms must be filed in the Village Clerk's office at least 90 days before the date for filing the final assessment roll. An application for such an exemption must be filed annually by the owner or owners.
[Amended 11-7-1991 by L.L. No. 16-1991]
Upon the determination by the Village Clerk that the requirements of this article have been met, an exemption shall be allowed to the percentages permitted in § 305-15, which shall apply only to the assessed value of the property that qualifies. The exemption shall not apply to special ad valorem levies or special assessments.
The burden of proof is upon the applicant to show eligibility pursuant to this article.
Any conviction of having made any willful false statement in the application for exemption under this article 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.