[Adopted 10-20-1980 by L.L. No. 2-1980]
[Last amended 9-14-2009 by L.L. No. 11-2009, effective 1-1-2010]
A. 
Effective January 1, 2010, real property owned by one or more persons, each of whom will be 65 years of age or over during the taxable status year, or real property owned by husband or wife, one of whom will be 65 years of age or over during the taxable status year, shall be exempt from taxation by the Incorporated Village of East Rockaway to the extent of the following percentage of assessed valuation thereof:
Total Combined Annual Income
Percentage of Assessed Valuation Exempt From Taxation
Less than $29,000
50%
$29,001, but less than $30,000
45%
$30,000, but less than $31,000
40%
$31,000, but less than $32,000
35%
$32,000, but less than $32,900
30%
$32,900, but less than $33,800
25%
$33,800, but less than $34,700
20%
$34,700, but less than $35,600
15%
$35,600, but less than $36,500
10%
$36,500, but less than $37,400
5%
B. 
Such exemption shall be computed after all other partial exemptions allowed by law have been subtracted from the total amount assessed and shall be applicable to the assessment roll for the taxable year immediately following application for exemption.
C. 
The real property tax exemption on real property owned by husband and wife, one of whom will be 65 years of age or over during the taxable status year, once granted, shall not be rescinded solely because of the death of the older spouse, so long as the surviving spouse is at least 65 years of age.
[Last amended 9-14-2009 by L.L. No. 11-2009, effective 1-1-2010]
No exemption shall be granted:
A. 
If the income of the owner or the combined income of the owner(s) of the property exceeds the sum of $37,400 for the income tax year immediately preceding the date of making application for exemption. Where title is vested in either husband or wife, their combined income may not exceed each 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 exhaustion or wear and tear of real or personal property held for the production of income.
B. 
Unless the title of the property shall have been vested in the owner or all of the owners of the property for at least 24 months prior to the date of making application for exemption. Notwithstanding any other provision of the law, 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 exemption from taxation.
C. 
Unless the property is used exclusively for residential purposes.
D. 
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.
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 Assessor of the Village of East Rockaway and shall furnish the information and be executed in the manner required, or prescribed in such forms, and shall be filed in such Assessor's office on or before the taxable status date.
At least 60 days prior to the appropriate taxable status date, the Assessor of the Village of East Rockaway shall mail to each person, who was granted exemption pursuant to this article, on the latest completed assessment roll, an application form and a notice that such application must be filed on or before the taxable status date and must be approved in order for the exemption to be granted. Failure to mail any such application form and notice of the failure of such person to receive the same shall not prevent the levy, collection and enforcement of the payment of the taxes on property owned by such person.
Any conviction of having made any willful false statement in the application for such exemption shall be punishable by a fine of not more than $100 and shall disqualify the applicant or applicants from further exemption for a period of five years.