The purpose of this article is to increase the tax exemption
eligibility for seniors and persons with disabilities, and define
the income limits for same, pursuant to New York Real Property Tax
Law § 467 (Persons 65 years of age or over) and New York
Real Property Tax Law § 459-c (Persons with disabilities
and limited resources). In order to reduce the real property tax burden
imposed upon senior citizens and persons with disabilities with limited
income, the Town of Verona wishes to adopt the County of Oneida's
maximum allowable income limits for certain property tax exemptions.
This article is adopted in accordance with §§ 467
and 459-c of the New York Real Property Tax Law and § 10
of the Municipal Home Rule Law of the State of New York.
Real property owned by one or more persons, each of whom is
65 years of age or over, or real property owned by husband and wife
or by siblings, one of whom is 65 years of age or over as of December
31 of the tax year for which such application for exemption is being
made, who qualify under Real Property Tax Law § 467, and
others of whom qualify as persons with disabilities and limited income
pursuant to Real Property Tax Law § 459-c, shall be exempt
from taxation by the Town of Verona to the extent as set forth herein.
Property eligible for the exemption authorized by Real Property
Tax Law §§ 467 and 459-c shall be exempt from taxation
up to a maximum of 50% of the assessed valuation where applicable
annual income or annual income does not exceed $29,500. For incomes
in excess of $29,500, such property shall be exempt from taxation
to the extent provided in the following schedule:
Annual Income
|
Percent of Exemption
|
---|
Up to and including $29,500
|
50%
|
$29,500 or more, but less than $30,500
|
45%
|
$30,500 or more, but less than $31,500
|
40%
|
$31,500 or more, but less than $32,500
|
35%
|
$32,500 or more, but less than $33,400
|
30%
|
$33,400 or more, but less than $34,300
|
25%
|
$34,300 or more, but less than $35,200
|
20%
|
$35,200 or more, but less than $36,100
|
15%
|
$36,100 or more, but less than $37,000
|
10%
|
$37,000 or more, but less than $37,900
|
5%
|
To the extent any Town of Verona local law, resolution or ordinance
is inconsistent with this article, the same is superseded by this
article to the extent of such inconsistency.
Each separate provision of this article shall be deemed independent
of all other provisions therein, and if any provision shall be deemed
or declared invalid, all other provisions hereof shall remain valid
and enforceable.
This article shall become effective immediately upon being filed
in the office of the Secretary of State.