[Adopted as Ch. 109 of the 1970 Code]
[Amended 3-1-1971]
Real property in the City of Saratoga Springs owned by one or more persons, each of whom is 65 years of age or over, or real property owned by husband and wife, one of whom is 65 years of age or over, shall be exempt from taxation by the City of Saratoga Springs to the extent of 50% of the assessed valuation thereof; provided, however, that eligibility for such exemption shall be determined in accordance with the provisions of § 467 of Article 4 of the Real Property Tax Law of the State of New York.
[Added 3-1-1971; amended 4-2-1973; 4-7-1975; 6-20-1977; 3-19-1979; 12-3-1979; 2-2-1981; 2-1-1982; 3-7-1983; 1-16-1984; 2-3-1986; 2-1-1988; 3-5-1990; 2-21-1995; 4-17-2001; 5-18-2004; 12-6-2022]
For the purposes of determining eligibility under § 467
of the Real Property Tax Law, 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 shall be as
follows:
|
Income
|
Tax Exemption
|
|---|---|
|
Up to and including $29,000
|
50%
|
|
More than $29,000 but less than $30,000
|
45%
|
|
$30,000 or more but less than $31,000
|
40%
|
|
$31,000 or more but less than $32,000
|
35%
|
|
$32,000 or more but less than $32,900
|
30%
|
|
$32,900 or more but less than $33,800
|
25%
|
|
$33,800 or more but less than $34,700
|
20%
|
|
$34,700 or more but less than $35,600
|
15%
|
|
$35,600 or more but less than $36,500
|
10%
|
|
$36,500 or more but less than $37,400
|
5%
|
[Added 2-18-2014]
In the event that the owner, or all the owners, of a property
that has received an exemption pursuant to this article on the preceding
assessment roll shall fail to file the application required for this
exemption on or before the taxable status day of March 1, such owner
or owners shall be permitted to file said application with the Assessor,
in a form and executed as if such application had been filed on or
before the taxable status date of March 1, any time before the date
for hearing of complaints, said date being the fourth Tuesday in May.
Upon receipt of said application, the Assessor shall petition the
Board of Assessment Review, as authorized by § 552 of the
Real Property Tax Law, to accept such application and verified statement
as required in Form RP-552.
