A.
Real property owned by one or more persons, each of whom is 65 years of age or over, shall be exempt from taxation by the Town of Yorktown, County of Westchester, State of New York, to the extent of 50% of the assessed valuation thereof, subject to the provisions and limitations contained in § 467 of the Real Property Tax Law of the State of New York pursuant to the following schedules and subject to the following conditions. No exemption shall be granted if the income of the owner or the combined income of the owners of the property or, if title to the property is vested in either the husband or wife, the combined income of the husband and wife for the income tax year immediately preceding the date of making the application for exemption is $34,400 or more for the period expiring June 30, 2007, $35,400 or more for the period expiring June 30, 2008, $36,400 or more for the period expiring June 30, 2009, or $37,400 or more for the period commencing July 1, 2009, or $58,400 or more for the exempt period commencing May 1, 2023.
[Amended 3-16-1999 by L.L. No. 3-1999; 12-17-2002 by L.L. No. 19-2002; 3-16-2004 by L.L. No. 2-2004; 2-6-2007 by L.L. No. 2-2007; 3-7-2023 by L.L. No. 2-2023]
(1)
For the period commencing May 1, 2023:
Annual Income Ranges | Exemption Percentage | |
|---|---|---|
Less than $50,000 | 50% | |
$50,000 to $50,999.99 | 45% | |
$51,000 to $51,999.99 | 40% | |
$52,000 to $52,999.99 | 35% | |
$53,000 to $53,899.99 | 30% | |
$53,900 to $54,799.99 | 25% | |
$54,800 to $55,699.99 | 20% | |
$55,700 to $56,599.99 | 15% | |
$56,600 to $57,499.99 | 10% | |
$57,500 to $58,399.99 | 5% |
(2)
For the period expiring June 30, 2007:
Annual Income Ranges | Exemption Percentage | |
|---|---|---|
Up to and including $26,000 | 50% | |
Greater than $26,000 but less than $27,000 | 45% | |
Greater than $27,000 but less than $28,000 | 40% | |
Greater than $28,000 but less than $29,000 | 35% | |
Greater than $29,000 but less than $29,900 | 30% | |
Greater than $29,900 but less than $30,800 | 25% | |
Greater than $30,800 but less than $31,700 | 20% | |
Greater than $31,700 but less than $32,600 | 15% | |
Greater than $32,600 but less than $33,500 | 10% | |
Greater than $33,500 but less than $34,400 | 5% | |
Greater than $34,400 | Not eligible |
(3)
For the period commencing July 1, 2007, expiring June 30, 2008:
Annual Income Ranges | Exemption Percentage | |
|---|---|---|
Up to and including $27,000 | 50% | |
Greater than $27,000 but less than $28,000 | 45% | |
Greater than $28,000 but less than $29,000 | 40% | |
Greater than $29,000 but less than $30,000 | 35% | |
Greater than $30,000 but less than $30,900 | 30% | |
Greater than $30,900 but less than $31,800 | 25% | |
Greater than $31,800 but less than $32,700 | 20% | |
Greater than $32,700 but less than $33,600 | 15% | |
Greater than $33,600 but less than $34,500 | 10% | |
Greater than $34,500 but less than $35,400 | 5% | |
Greater than $35,400 | Not eligible |
(4)
For the period commencing July 1, 2008, expiring June 30, 2009:
Annual Income Ranges | Exemption Percentage | |
|---|---|---|
Up to and including $28,000 | 50% | |
Greater than $28,000 but less than $29,000 | 45% | |
Greater than $29,000 but less than $30,000 | 40% | |
Greater than $30,000 but less than $31,000 | 35% | |
Greater than $31,000 but less than $31,900 | 30% | |
Greater than $31,900 but less than $32,800 | 25% | |
Greater than $32,800 but less than $33,700 | 20% | |
Greater than $33,700 but less than $34,600 | 15% | |
Greater than $34,600 but less than $35,500 | 10% | |
Greater than $35,500 but less than $36,400 | 5% | |
Greater than $36,400 | Not eligible |
(5)
For the period commencing July 1, 2009:
Annual Income Ranges | Exemption Percentage | |
|---|---|---|
Up to and including $29,000 | 50% | |
Greater than $29,000 but less than $30,000 | 45% | |
Greater than $30,000 but less than $31,000 | 40% | |
Greater than $31,000 but less than $32,000 | 35% | |
Greater than $32,000 but less than $32,900 | 30% | |
Greater than $32,900 but less than $33,800 | 25% | |
Greater than $33,800 but less than $34,700 | 20% | |
Greater than $34,700 but less than $35,600 | 15% | |
Greater than $35,600 but less than $36,500 | 10% | |
Greater than $36,500 but less than $37,400 | 5% | |
Greater than $37,400 | Not eligible |
B.
Any person otherwise qualified under this section shall not be denied the exemption under this section if he becomes 65 years of age after the appropriate taxable status date and before December 31 of the same year.
C.
The above-described partial exemption is not automatic as certain qualifications with respect to ownership, residence, occupancy and income must be met each year. The person claiming the exemption must make an annual application and the Assessor must determine whether the applicant meets the statutory qualifications for the exemption.