The purpose of this article is to grant a partial exemption
from taxation to the extent of 50% of the assessed valuation of real
property which is owned by certain persons with limited income who
are 65 years of age or over meeting the requirements set forth in
§ 467 of the Real Property Tax Law.
[Amended 5-14-1990 by L.L. No. 3-1990, approved at referendum 7-16-1990; 2-11-1991 by L.L. No. 1-1991; 11-9-1992 by L.L. No. 7-1992; 11-3-1994 by L.L. No. 7-1994; 2-10-1997 by L.L. No. 3-1997; 2-8-1999 by L.L. No. 1-1999; 12-4-2000 by L.L. No. 9-2000; 3-14-2005 by L.L. No. 1-2005; 2-10-2020 by L.L. No. 2-2020]
A. 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, shall be exempt from County taxes to the extent of 50% of the assessed valuation to the extent provided in the schedule set forth in Subsection
B hereof. For the purpose of this article, "sibling" shall mean a brother or a sister, whether related through half blood, whole blood or adoption.
B. As defined in § 467, Subdivision 3(a), of Real Property Tax
Law of the State of New York, the income of the owner or the combined
income of the owners of the property for the income tax return for
the year before the income tax year immediately preceding the date
of application for the exemption, unless the taxable status date is
on or before April 14 in which case the income tax year shall mean
the twelve-month period for which the owner or owners filed a federal
personal tax return for the year before the income tax year immediately
preceding the date of application, shall not exceed the amounts set
forth in the following schedule:
[Amended 5-8-2023 by L.L. No. 3-2023]
Annual Income
|
Percentage of Assessed Valuation Exempt from Taxation
|
---|
$35,000 or less
|
50%
|
$35,000 to $35,999
|
45%
|
$36,000 to $36,999
|
40%
|
$37,000 to $37,999
|
35%
|
$38,000 to $38,899
|
30%
|
$38,900 to $39,799
|
25%
|
$39,800 to $40,699
|
20%
|
$40,700 to $41,599
|
15%
|
$41,600 to $42,499
|
10%
|
$42,500 to $43,399
|
5%
|
$43,400 or more
|
0%
|
C. All other
restrictions, definitions and requirements of § 467 of the
Real Property Tax Law, as amended, shall apply to this article as
if fully set forth herein.