[Adopted 7-18-1983 by L.L. No. 2-1983 as Ch. X, Art. IV, Div. 1, of the 1983 Code]
[Amended 11-21-1983 by L.L. No. 8-1983; 11-6-1989 by L.L. No. 1-1990; 4-16-1990 by L.L. No. 2-1990; 9-6-1990 by L.L. No. 4-1990; 1-20-1994 by L.L. No. 1-1994; -10-17-1994 by L.L. No. 8-1994; 2-27-1996 by L.L. No. 2-1996; 2-3-1997 by L.L. No. 2-1997]
A.
Pursuant to § 467 of the Real Property Tax
Law of the State of New York, real property located in the City of
Albany and owned by one or more persons, each of whom is 65 years
of age or over, or real property owned by spouses, one of whom is
65 years of age or over, shall be exempt from taxation according to
the following eligibility schedule:
|
Annual Income
|
Percentage of Assessed Value Exempt from
Taxation
|
|---|---|
|
$50,000 or less
|
50%
|
|
More than $50,000 and up to $51,000
|
45%
|
|
More than $51,000 and up to $52,000
|
40%
|
|
More than $52,000 and up to $53,000
|
35%
|
|
More than $53,000 and up to $53,900
|
30%
|
|
More than $53,900 and up to $54,800
|
25%
|
|
More than $54,800 and up to $55,700
|
20%
|
|
More than $55,700 and up to $56,600
|
15%
|
|
More than $56,600 and up to $57,500
|
10%
|
|
More than $57,500 and up to $58,400
|
5%
|
|
More than $58,400
|
0%
|
[1]
Editor's Note: This local law provided that
it would apply to assessment rolls prepared on the basis of taxable
status dates occurring on and after 1-1-2007.
[2]
Editor's Note: This local law also provided
that it shall apply to assessment rolls prepared on the basis of taxable
status dates occurring on or after 1-1-2009.
[3]
Editor's Note: This local law all provided that it shall apply
to assessment rolls prepared on the basis of taxable status dates
occurring on or after 1-1-2010.
[4]
Editor's Note: This local law all provided that it shall apply
to assessment rolls prepared on the basis of taxable status dates
occurring on or after 1-1-2023.
B.
The real property tax exemption provided herein on
real property owned by spouses, one of whom is 65 years of age or
over, once granted, shall not be rescinded solely because of the death
of the older spouse so long as the surviving spouse is at least 62
years of age.
[Amended 2-6-2023 by L.L. No. 3-2023]
C.
Exemption from taxation, as provided for herein, for
school purposes shall not be granted in the case of real property
where a child resides if such child attends a public school of elementary
or secondary education.
D.
The annual income used for the purposes of determining eligibility
for an exemption pursuant to this section shall be offset by all documented
medical and prescription drug expenses actually paid which were not
reimbursed or paid by insurance.
[Added 2-5-2018 by L.L.
No. 2-2018]
[Amended 11-21-1983 by L.L. No. 8-1983; 11-6-1989 by L.L. No. 1-1990; 4-16-1990 by L.L. No. 2-1990; 9-6-1990 by L.L. No. 4-1990; 1-20-1994 by L.L. No. 1-1994]
No exemption shall be granted:
A.
If the income of the owner or the combined income
of the owners of the property for the income tax year immediately
preceding the date of making application for exemption exceeds $58,400. “Income
tax year” shall mean the 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
spouse, 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 in the same
income tax year, net rental income, salary or earnings and net income
for self-employment, but shall not include a return of capital, gifts
or inheritance. In computing net rental income and net income for
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 12-16-2002 by L.L. No. 1-2003; 2-2-2004 by L.L. No. 1-2004; 10-18-2004 by L.L. No. 9-2004; 1-4-2007 by L.L. No. 1-2007; 8-4-2008 by L.L. No. 4-2008; 7-20-2009 by L.L. No. 3-2009; 2-6-2023 by L.L. No. 3-2023]
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 24
consecutive months prior to the date of making application for exemption;
provided, however, that in the event of the death of either spouse
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 spouse, the time of ownership
of the property by the deceased spouse 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 24 consecutive months,
provided further that in the event of a transfer by either a spouse
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 purpose of computing
such period of 24 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, 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. Where a residence is sold and replaced with
another within one year and both are located in the City of Albany,
the period of ownership of the former shall be combined with the period
of ownership of the replacement residence and deemed consecutive for
exemption purposes.
[Amended 2-6-2023 by L.L. No. 3-2023]
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 appropriate assessing authority
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 appropriate taxable status date.
[Amended 4-6-2020 by L.L. No. 4-2020; 11-25-2023 by Ord. No. 36.92.23]
At least 60 days prior to the appropriate taxable
status date, the assessing authority 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 in accordance with Real Property Tax Law § 467,
Subdivision 8. In the case of the 2020 and 2023 Assessment Roll, the
deadline to submit applications shall be the last day to pay school
taxes without interest in accordance with Real Property Tax Law § 467,
Subdivision 8-a. 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
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.
If any provision of this article or the application
thereof shall for any reason be adjudged by any court of competent
jurisdiction to be invalid, such judgment shall not affect, impair
or invalidate the remainder of this article, but shall be confined
in its operation to the provision thereof directly involved in the
controversy in which such judgment shall have been rendered, and the
application of such provision to other persons or circumstances shall
not be affected thereby.
