This article is enacted pursuant to the provisions of § 457
of the Real Property Tax Law of the State of New York to grant an
exemption from real property taxation levied by the Village of Perry
for newly constructed primary residential property purchased by one
or more persons, each of whom is a first-time homebuyer and has not
been married to a homeowner in the three years prior to applying for
this first-time homeowners exemption.
As used in this article, the following terms shall have the
meanings indicated:
FIRST-TIME HOMEBUYER
A person who has not owned a primary residential property
and is not married to a person who has owned a residential property
during the three-year period prior to his or her purchase of the primary
residential property, and who does not own a vacation or investment
home.
HOUSEHOLD INCOME
The total combined income of all the owners, and of any owners'
spouses residing on the premises, for the income tax year preceding
the date of making application for the exemption.
INCOME
The "adjusted gross income" for federal income tax purposes
as reported on the applicant's latest available federal or state
income tax return subject to any subsequent amendments or revisions,
reduced by distributions, to the extent included in federal adjusted
gross income, received from an individual retirement account and an
individual retirement annuity; provided that if no such return was
filed within the one-year period preceding taxable status date. "Income"
shall mean the adjusted gross income that would have been so reported
if such a return had been filed. For purposes of this subsection,
"latest available return" shall mean the federal or state income tax
return for the year immediately preceding the date of making application;
provided, however, that if the tax return for such tax year has not
been filed, then the income tax return for the tax year two years
preceding the date of making application shall be considered the latest
available.
PRIMARY RESIDENTIAL PROPERTY
Any one- or two-family house, townhouse or condominium located
in this state which is owner-occupied by such homebuyer.
NEWLY CONSTRUCTED
An improvement to real property which was constructed as
a primary residential property, and which has never been occupied
and was constructed after the effective date of this article. "Newly
constructed" shall also mean that portion of a primary residential
property that is altered, improved or reconstructed.
All ordinances, local laws and parts thereof inconsistent with
this article are hereby repealed.
If any clause, sentence, paragraph, subdivision, or part of
this article or the application thereof to any person, firm or corporation,
or circumstance, shall be adjudged by any court of competent jurisdiction
to be invalid or unconstitutional, such order or judgment shall not
affect, impair, or invalidate the remainder thereof, but shall be
confined in its operation to the clause, sentence, paragraph, subdivision,
or part of this article or in its application to the person, individual,
firm or corporation or circumstance, directly involved in the controversy
in which such judgment or order shall be rendered.
On December 31, 2016, said law sunsets, becomes void and not
in effect without any further action of the Board of Trustees of the
Village of Perry, either before or after said date.
This article shall take effect upon its filing with the New
York State Secretary of State. A copy of this article shall also be
filed with the Commissioner and the Assessor of the Village who prepares
the assessment roll on which the taxes of such Village are levied.