The provisions of this article shall apply to all property located
within the City of Yonkers used solely for residential purposes as
either a one-, two- or three-family residence owned and occupied as
the legal residence of a disabled person as certified by the Yonkers
Tax Assessor.
Any one-, two- or three-family residence used solely for residential
purposes, located in the City of Yonkers, that is the real property
of the resident owner of the real property who is physically disabled,
shall receive an exemption from taxation from the City of Yonkers
on said real property to the extent enumerated herein:
A. Income limits.
[Amended 6-22-2004 by L.L. No. 2-2004; 6-26-2007 by L.L. No.
10-2007; 4-8-2008 by L.L. No. 5-2008; 1-17-2023 by L.L. No. 3-2023]
(1) For the period commencing July 1, 2011, and expiring on June 30,
2024, no exemptions shall be granted if the income of the owner or
combined income of the owners of the property for the income tax year
immediately preceding the date of making application for exemption
exceeds the sum of $29,000, except as provided in the following schedule:
Annual Income Equal to or Greater than
|
And Less than
|
Percentage of Assessed Value Exempt from Taxation
|
---|
$0
|
$29,000.00
|
50%
|
$29,000.01
|
$29,999.99
|
45%
|
$30,500.00
|
$30,999.99
|
40%
|
$31,000.00
|
$31,999.99
|
35%
|
$32,000.00
|
$32,899.99
|
30%
|
$32,900.00
|
$33,799.99
|
25%
|
$33,800.00
|
$34,699.99
|
20%
|
$34,700.00
|
$35,599.99
|
15%
|
$35,600.00
|
$36,499.99
|
10%
|
$36,500.00
|
$37,399.99
|
5%
|
(2) For the period commencing July 1, 2024, no exemptions shall be granted
if the income of the owner or combined income of the owners of the
property for the income tax year immediately preceding the date of
making application for exemption exceeds the sum of $50,000, except
as provided in the following schedule:
Annual Income Equal to or Greater than
|
And Less than
|
Percentage of Assessed Value Exempt from Taxation
|
---|
$0.00
|
$50,000.00
|
50%
|
$50,000.01
|
$50,999.99
|
45%
|
$51,000.00
|
$51,999.99
|
40%
|
$52,000.00
|
$52,999.99
|
35%
|
$53,000.00
|
$53,899.99
|
30%
|
$53,900.00
|
$54,799.99
|
25%
|
$54,800.00
|
$55,699.99
|
20%
|
$55,700.00
|
$56,599.99
|
15%
|
$56,600.00
|
$57,499.99
|
10%
|
$57,500.00
|
$58,399.99
|
5%
|
(3) The term "income tax year" shall mean the 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 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 24 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 solely in the survivor
by virtue of devise by or descent from the deceased husband and 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, and provided further that where
property of the owner or owners and taken by eminent domain or other
involuntary proceeding, except a tax sale, 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 periods
of ownership shall be deemed to be consecutive for purposes of this
section.
C. Unless the property is used exclusively for residential purposes.
D. Unless the real property is the legal residence of and is occupied
in whole or part by the owner or by all the owners of the property.
To qualify as physically disabled for the purposes of this article,
an individual shall submit to the Assessor a certified statement from
a physician licensed to practice in the state on a form prescribed
and made available by the state board which states that the individual
has a certifiable disability.
The City Assessor may require any applicant to furnish such
other and further information as may be reasonably necessary for him
to establish the qualifications for exemption of said applicant. He
may establish such rules and procedures and take such other steps
as may be necessary to implement the provision of this article.
Any such conviction for having made any willful false statement
in the application for such exemption shall be punishable by a fine
of not more than $500 and shall disqualify the applicant from further
exemption for a period of five years.