[Adopted 4-4-2001 by L.L. No. 1-2001]
The purpose of this article VIII is to grant persons with disabilities who meet the requirements set forth in New York State Real Property Tax Law § 459-c with the maximum possible real property tax exemption.
Real property owned by one or more persons with
disabilities, as defined in New York State Real Property Tax Law § 459-c,
or owned by a husband, wife, or both, or by siblings, at least one
of whom has a disability, shall be exempt from taxes up to a maximum
of 50% of the assessed valuation, pursuant to the following schedule
and subject to the following conditions:
|
Annual Income
|
Percentage of Assessed Value Exempt From
Taxation
|
|---|---|
|
$0 to $20,500.00
|
50%
|
|
$20,500.01 to $21,499.99
|
45%
|
|
$21,500.00 to $22,499.99
|
40%
|
|
$22,500.00 to $23,499.99
|
35%
|
|
$23,500.00 to $24,399.99
|
30%
|
|
$24,400.00 to $25,299.99
|
25%
|
|
$25,300.00 to $26,199.99
|
20%
|
|
$26,200.00 to $27,099.99
|
15%
|
|
$27,100.00 to $27,999.99
|
10%
|
|
$28,000.00 to $28,899.99
|
5%
|
A.
The income of the owner or the combined income of
the owners of the property, from all sources, as set forth in New
York State Real Property Tax Law § 459-c, for the income
tax year immediately preceding the date of making application for
exemption must not exceed $28,899.99. "Income tax year" shall mean
the twelve-month period for which the owner or owners file a federal
personal income tax return or, if no such return is filed, the calendar
year.
B.
Only that portion of property used exclusively for
residential purposes shall be eligible for exemption pursuant to this
article.
C.
Except as otherwise provided for in New York State
Real Property Tax Law § 459-c, to be eligible for exemption
pursuant to this article, property must be the legal residence, and
be occupied, in whole or in part, by the disabled person.
D.
Any exemption provided by this article shall be computed after all other partial exemptions allowed by law have been subtracted from the total amount assessed; provided, however, that no parcel may receive both an exemption pursuant to this article and a senior citizens tax exemption pursuant to Article III of this chapter.
E.
Notwithstanding any other provision of this article
to the contrary, the provisions of this article shall apply to real
property held in trust solely for the benefit of a person or persons
who would otherwise be eligible for a real property tax exemption,
pursuant to this article, were such person or persons the owner or
owners of such real property.
Application for an exemption pursuant to this
article must be filed by the owner, or by all of the owners, of the
property, annually in the Assessor's office on forms prescribed by
the New York State Board of Real Property Services on or before the
appropriate taxable status date.
As set forth pursuant to Subdivision 6 of § 459-c
of the New York State Real Property Tax Law, title to that portion
of real property owned by a cooperative apartment corporation in which
a tenant-stockholder resides, and which is represented by his or her
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. That proportion
of the assessment of such real property owned by a cooperative apartment
corporation determined by the relationship of such real property vested
in such tenant-stockholder to such real property owned by such cooperative
apartment corporation in which such tenant-stockholder resides shall
be subject to exemption from taxation pursuant to § 459-c
of the New York State Real Property Tax Law, and any exemption so
granted shall be credited by the appropriate taxing authority against
the assessed valuation of such real property; the reduction in real
property taxes realized thereby shall be credited by the cooperative
apartment corporation against the amount of such taxes otherwise payable
by or chargeable to such tenant-stockholder.
No exemption shall be granted pursuant to the
terms and conditions of exemption stated by Real Property Tax Law
§ 459-c, if the property receives an exemption for the same
municipal tax purpose pursuant to § 467 of the Real Property
Tax Law.
