Pursuant to § 469 of the Real Property
Tax Law of the State of New York, the Town Board of the Town of Huntington,
after due consideration, has provided for a partial real property
tax exemption for qualified homeowners as specified below.
Subject to the qualifications and regulations set
forth herein, an exemption from real property taxes is hereby granted
to the extent of any increase in assessed value of residential property
resulting from the construction or reconstruction of such property
for the purpose of providing living quarters for a parent or or grandparent
who is sixty-two (62) years of age or older.
This exemption shall not exceed the increase in assessed
value resulting from construction or reconstruction of such property,
or twenty (20%) percent of the total assessed value of such property
as improved, or twenty (20%) percent of the median sale price of residential
property as reported in the most recent sales statistical summary
published by the State Board for the county in which the property
is located, whichever is less.
Such exemption from taxation shall be applicable only
to construction or reconstruction which occurred subsequent to the
effective date of this article and shall only apply during taxable
years during which at least one (1) such parent or grandparent maintains
a primary place of residence in such living quarters.
Such exemption from taxation shall be granted only
upon an application made annually, upon a form promulgated by the
State Board, by the owner of such property to the Assessor of the
Town, on or before the taxable status date. If the Assessor is satisfied
that the property is entitled to an exemption pursuant to this article,
the Assessor shall approve the application and such residential improvements
shall be exempt from taxation and special ad valorem levies as provided
herein.
For the purposes of this exemption, the term "parent
or grandparent" shall be deemed to include the natural or adopted
grandparents or parents of the owner or the spouse of the owner.
Any conviction of having made any willful false statement
in the application for such exemption shall result in the revocation
thereof, shall be punishable by a civil penalty of not more than one
hundred ($100) dollars and shall disqualify the applicant or applicants
from further exemption for a period of five (5) years.
This article shall apply to real property having a
taxable date on or after the first day of January next succeeding
the date on which this article shall have become effective.