[Adopted 5-1-1978 as Ch. 81 of the 1978 Code.]
A. 
Real property in the Town of Clay 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 Town to the extent of 50% of the assessed valuation thereof. Such exemption shall be computed after all other partial exemptions allowed by law have been subtracted from the total amount assessed.
B. 
The real property tax exemption on real property owned by husband and wife, one of whom is 65 years of age or over, once granted, shall not be rescinded by the Town solely because of the death of the older spouse so long as the surviving spouse is at least 62 years of age.
No exemptions shall be granted:
A. 
If the income of the owner or the combined income of the owners of the property exceeds, for the income tax year immediately preceding the date of making application for exemption, the sum established by resolution of the Town Board. "Income tax year" shall mean a 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 8-20-2001 by L.L. No. 1-2001]
(1) 
All out-of-pocket medical and prescription drug expenses actually paid which were not paid for by another party or reimbursed by insurance shall be excluded from the definition of "income," for the purpose of determining eligibility for the senior citizen partial real property tax exemption. Proper application for partial tax exemption for real property of senior citizens must be made with the Assessor of the Town of Clay. Said exclusion shall take effect as of January 1, 1997.
(2) 
Veterans disability compensation, as defined under Title 38 of the United States Code, shall be excluded from the definition of "income," for the purpose of determining eligibility for the senior citizen partial real property tax exemption, pursuant to § 467 of New York State Real Property Tax Law. Proper application for partial tax exemption for real property of senior citizens must be made with the Assessor of the Town of Clay. Said exclusion shall take effect January 1, 1998.
B. 
Unless the title of the property shall have been vested in the owner or one of the owners of the property for at least 12 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 the 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 12 consecutive months, provided further that 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 shall 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 12 consecutive months and provided further that 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, and further provided that where a residence is sold and replaced with another within one year and is in the same assessment unit, 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.
[Amended 8-20-2001 by L.L. No. 1-2001]
C. 
Unless the property is used exclusively for residential purposes.
D. 
Unless the 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.
The town shall notify or cause to be notified each person owning residential real property in the town of the provisions of this article. The provisions of this section may be met by a notice or legend sent on or with each tax bill to such persons reading "You may be eligible for senior citizen tax exemptions. For information please call or write . . ., " followed by the name, telephone number and/or address of the person or department selected by the town to explain the provisions of this article. Failure to notify or cause to be notified any person who is, in fact, eligible to receive the exemption provided by this article or 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.
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's office and shall be filed in the Assessors' office on or before the taxable status date of the town.
At least 60 days prior to the appropriate taxable status date, the Town Assessors 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 be approved in order for the exemption to be granted. Failure to mail any such application form and notice or 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 statements 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.