[Adopted 12-12-2022 by L.L. No. 3-2022]
The purpose of this article is to grant a partial exemption from taxation to the assessed valuation of real property which is owned by certain persons with limited income who are physically disabled meeting the requirements set forth in § 459-c of the Real Property Tax Law, to the extent as provided in the following schedule:
A. 
Income of $13,500 or less shall receive a 50% exemption from Town taxes providing the property is used exclusively for residential purposes.
Real property owned by persons physically disabled shall be exempt from Town taxes as set forth in § 306-12 of this article whereas the aforesaid article is subject to the following conditions:
A. 
The owner or all of the owners must file an application annually in the assessor's office on forms prescribed by the State Board to be furnished by the assessor's office on or before March 1, the taxable status date, or such time as may be hereafter fixed by law.
B. 
The income of the owner or the combined income of the owners must not exceed the amount as set forth in § 306-12 of this article for the income tax year immediately preceding the date of making application, or if no tax return is filled, the calendar year.
C. 
Title to the property must be vested in the owner or one of the owners of the property for at least 12 consecutive months prior to the date the application is filed.
D. 
The property must be used exclusively for residential purposes, be occupied in whole or in part by the owners, and constitute the legal residence of the owners.
This tax exemption shall be subject to the conditions set forth in § 459-c of the Real Property Tax Law.
This article is adopted pursuant to the authority of Real Property Tax Law § 459-c. All definitions, terms and conditions of such statute are incorporated herein by reference and shall apply to this article.
INCOME TAX YEAR
Shall have the meaning ascribed to it in § 459-c of the New York State Real Property Tax Law. Where the title is vested in the owner or owners, 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 or wear and tear of real or personal property held for the production of income.
Real property owned by a person or persons with a disability, as defined in § 459-c of the Real Property Tax Law, whose income is limited by such disability and used as the legal principal residence of such person shall be entitled to a partial exemption from taxation to the extent shown below of the assessed valuation thereof as determined by the owner's or owners' corresponding annual income. All owners must qualify for the exemption, that is all owners must be persons with disabilities, except if property is owned by married persons or by siblings, only one person must meet the disability definition as defined in § 459-c of the Real Property Tax Law.
Annual Income
Reduction
$0 to $13,500
50%
$13,500.01 to $14,499.99
45%
$14,500 to $15,499.99
40%
$15,500 to $16,499.99
35%
$16,500 to $17,399.99
30%
$17,400 to $18,299.99
25%
$18,300 to $19,199.99
20%
$19,200 to $20,099.99
15%
$20,100 to $20,999.99
10%
$21,000 to $21,899.99
5%
$21,900 or more
0%
This increase shall be effective with the 2023 assessment roll.
If any clause, sentence, paragraph, section or part of this article shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation to the clause, sentence, paragraph, section or part thereof directly involved in the controversy in which such judgment shall have been ordered.
This article shall take effect immediately on the 2023 assessment roll and upon filing with the Secretary of State.