[Adopted 3-15-2022 by L.L. No. 1-2022[1]]
[1]
Editor's Note: This local law also repealed former Art. VII, Persons with Disabilities and Limited Incomes, adopted 11-19-2019 by L.L. No. 8-2019.
A. 
In accordance with Real Property Tax Law § 459-c, and in accordance with all requirements, definitions and other provisions therein and in this article, real property in the Town of Blooming Grove owned by i) one or more persons with disabilities; or ii) a husband, wife, or both, or by siblings, at least one of whom has a disability; or iii) one or more persons, some of whom qualify under Real Property Tax Law § 459-c and the others of whom qualify under Real Property Tax Law § 467; and whose income is limited by reason of such disability, shall be partially exempt from taxation by the Town of Blooming Grove to the extent established from time to time by a schedule adopted by resolution of the Town Board, which schedule shall not be inconsistent with the provisions of Real Property Tax Law § 459-c for the fiscal year for which an application is filed.
B. 
Title to that portion of real property owned by a cooperative apartment corporation in which a tenant-stockholder of such corporation resides, and which is represented by his share or shares of stock in such corporation as determined by its or their proportional relationship to the total outstanding stock of the corporation, including that owned by the corporation, shall be deemed to be vested in such tenant-stockholder.
Exemptions authorized by this article and Real Property Tax Law § 459-c shall be provided from time to time by a schedule adopted by resolution of the Town Board, which schedule shall not be inconsistent with the provision of Real Property Tax Law § 459-c for the fiscal year for which an application is filed.
No exemption shall be granted:
A. 
If the income of the owner or the combined income of the owners of the property for the income tax year immediately preceding the date of making application for exemption exceeds the sum established in the schedule as adopted by the Town Board and on file in the Town offices. If such income does not exceed said sum so established, then the real property shall be exempt from taxation by the Town to the extent established by such schedule. "Income tax year" shall mean the twelve-month period for which the owner or owners filed a federal personal income tax return or, if no such return is filed, the calendar year. Where title is vested in either the husband or the wife, 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 capital asset in the same income tax year, net rental income, salary or earnings, veterans disability compensation and net income from self-employment, but shall not include a return of capital, gifts, inheritances, payments made to individuals because of their status as victims of Nazi persecution, as defined by law, or monies earned through employment in the federal Foster Grandparent Program. In computing net rental 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.
B. 
Unless the real property is used exclusively for residential purposes, except as otherwise provided in Real Property Tax Law § 459-c.
C. 
Unless the real property is the legal residence of and is occupied in whole or in part by the disabled person, except as otherwise provided in Real Property Tax Law § 459-c.
Annual application for such exemption must be made by the owner or all of the owners of the property on forms furnished by the Town Assessor's office and shall be filed in the Town Assessor's office on or before March 1 of each year. However, proof of a permanent disability may be submitted only in the year the exemption is first sought or the disability is first determined to be permanent.