Town of Carmel, NY Senior Citizens Exemption

[Amended 10-11-1972 by L.L. No. 4-1972; 11-13-1974 by L.L. No. 1-1974; 7-19-1977 by L.L. No. 1-1977; 6-20-1979 by L.L. No. 8-1979; 11-15-1980 by L.L. No. 3-1980; 8-11-1982 by L.L. No. 3-1982; 12-28-1983 by L.L. No. 2-1983; 11-12-1986 by L.L. No. 1-1986; 2-21-1990 by L.L. No. 2-1990]

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, or real property owned by one or more persons, some of whom qualify under § 467 of the Real Property Tax Law and § 459-c of the Real Property Tax Law, shall be exempt from taxation by the Town of Carmel in regard to property located in the Town of Carmel up to a maximum of 50% of the assessed valuation in accordance with the schedule listed below and subject to the conditions herein contained in Subsections B through D.

[Amended 2-7-2007 by L.L. No. 3-2007; 1-11-2023 by L.L. No. 1-2023]

(1)

For the Roll Year 2023:

Annual Income	Percentage of Assessed Value Exempt from Taxation
$40,000 and less	50%
$40,000 but less than $41,000	45%
$41,000 but less than $42,000	40%
$42,000 but less than $43,000	35%
$43,000 but less than $43,900	30%
$43,900 but less than $44,800	25%
$44,800 but less than $45,700	20%
$45,700 but less than $46,600	15%
$46,600 but less than $47,500	10%
$47,500 but less than $48,400	5%

(2)

For the Roll Year 2024:

Annual Income	Percentage of Assessed Value Exempt from Taxation
$45,000 and less	50%
$45,000 but less than $46,000	45%
$46,000 but less than $47,000	40%
$47,000 but less than $48,000	35%
$48,000 but less than $48,900	30%
$48,900 but less than $49,800	25%
$49,800 but less than $50,700	20%
$50,700 but less than $51,600	15%
$51,600 but less than $52,500	10%
$52,500 but less than $53,400	5%

(3)

For the Roll Year 2025:

Annual Income	Percentage of Assessed Value Exempt from Taxation
$50,000 and less	50%
$50,000 but less than $51,000	45%
$51,000 but less than $52,000	40%
$52,000 but less than $53,000	35%
$53,000 but less than $53,900	30%
$53,900 but less than $54,800	25%
$54,800 but less than $55,700	20%
$55,700 but less than $56,600	15%
$56,600 but less than $57,500	10%
$57,500 but less than $58,400	5%

Application for such exemption must be made by the owner or all of the owners of the property, on forms prescribed by the State Board to be furnished by the Town Assessor. Said owners shall furnish the information requested on the forms and shall execute them in the manner required or prescribed in such forms. Applications shall be filed in the Assessor's office on or before March 1 of each year. Owners who become 65 years of age after March 1 and before December 31 of the year of application shall still qualify for the exemption.

Any exemption provided under this article shall be computed after all other partial exemptions allowed by law have been subtracted from the total amount assessed.

No exemption shall be granted:

(1)

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 of $32,399.99. "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 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, wear and tear of real or personal property held for the production of income.

[Amended 4-2-2003 by L.L. No. 4-2003; 2-18-2004 by L.L. No. 1-2004]

(2)

Unless the title of the property shall have been vested in the owner or one of the owners of the property for at least 24 consecutive months prior to the date of making application for exemption; provided, however, that in the event of the death of either a husband or wife in whose name title of the property shall have been vested at the time of death and then becomes vested solely in the survivor by virtue of devise by or descent from the deceased husband or wife, the time of ownership of property by the deceased husband or wife shall be deemed also a time of ownership by the survivor and such ownership shall be deemed continuous for the purposes of computing such period of 24 consecutive months. In the event of a transfer by either a husband or wife to the other spouse of all or part of the title to the property, the time of ownership of the property by the transferor spouse be deemed also a time of ownership by the transferee spouse, and such ownership shall be deemed continuous for the purposes of computing such period of 24 consecutive months. Where property of the owner or owners has been acquired to replace property formerly owned by such owner or owners and taken by eminent domain or other involuntary proceeding, except a tax sale, the period of ownership of the former property shall be combined with the period of ownership of the property for which application is made for exemption, and such periods of ownership shall be deemed to be consecutive for purposes of this section. Where a residence is sold and replaced with another within one year and both residences are within the state, the period of ownership of both properties shall be deemed consecutive for purposes of the exemption from taxation by a municipality within the state granting such exemption. Where the owner or owners transfer title to property which, as of the date of transfer, was exempt from taxation under the provisions of this section, the reacquisition of title by such owner or owners within nine months of the date of transfer shall be deemed to satisfy the requirement of this subsection that the title of the property shall have been vested in the owner or one of the owners for such period of 24 consecutive months. Where, upon or subsequent to the death of an owner or owners, title to property which as of the date of such death was exempt from taxation under such provisions, becomes vested, by virtue of devise or descent from the deceased owner or owners, or by transfer by any other means, within nine months after such death, solely in a person or persons who, at the time of such death, maintained such property as a primary residence, the requirement of this subsection that the title of the property shall have been vested in the owner or one of the owners of such period of 24 consecutive months shall be deemed satisfied.

(3)

Unless the property is used exclusively for residential purposes; provided, however, that in the event that any portion of such property is not so used exclusively for residential purposes but is used for other purposes, such portion shall be subject to taxation and the remaining portion only shall be entitled to the exemption provided by this section.

(4)

Unless the real property is the legal residence of and is occupied in whole or in part by the owner or by all of the owners of the property, provided that an owner who is absent while receiving health-related care as an inpatient of a residential health care facility, as defined in § 2801 of the Public Health Law, shall be deemed to remain a legal resident and an occupant of the property while so confined, and income accruing to that person shall be income only to the extent that it exceeds the amount paid by such owner, spouse, or co-owner for care in the facility; and provided further that during such confinement, such property is not occupied by other than the spouse or co-owner of such owner.