[Adopted 10-2-2023 by L.L. No. 2-2023[1]]
[1]
Editor's Note: This local law also superseded former Art. IV, Senior Citizens Exemption, adopted 5-4-1998 by L.L. No. 1-1998 (Ch. 140, Art. II, of the 1998 Code), as amended.
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To the extent any Town of Verona local law, resolution or ordinance is inconsistent with this article, the same is superseded by this article to the extent of such inconsistency.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.