[Adopted 10-23-1989 by L.L. No. 5-1989 as Ch. 194, Art. II, of the 1989 Code]
[Amended 2-12-1990; 3-11-1991]
Pursuant to and in accordance with the provisions
of § 467 of the Real Property Tax Law, Chapter 616 of the
Laws of 1966, as amended, real property situated in the Village of
Endicott, subject to taxation by the Village of Endicott, owned by
one or move persons, each of whom is 65 years of age or over, or real
property situated in the Village of Endicott, subject to taxation
by the Village of Endicott, owned by husband and wife, one of whom
is 65 years of age or over, shall be exempt from real property taxation
by the Village of Endicott to the extent of the percentage of assessed
valuation set forth below opposite the income range defining that
percentage:
|
Income Range
|
Percentage of Exemption
|
|---|---|
|
$0 to $15,000.00
|
50%
|
|
$15,000.00 to $15,600.00
|
45%
|
|
$15,600.00 to $16,200.00
|
40%
|
|
$16,200.00 to $16,800.00
|
35%
|
|
$16,800.00 to $17,400.00
|
30%
|
|
$17,400.00 to $18,000.00
|
25%
|
|
$18,000.00 to $18,600.00
|
20%
|
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 the
sum of $18,600. "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 the husband or 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 2-12-1990; 3-11-1991]
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 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 24 consecutive months. 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 24 consecutive months. 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 residences are within the state,
the period of ownership of both properties shall be deemed consecutive
for purposes of the exemption from taxation.
C.
Unless the property is used exclusively for residential
purposes; provided, however, that in the event that any portion of
such property is not so used exclusively for residential purposes
but is used for other purposes, such portion shall be subject to taxation,
and the remaining portion only shall be entitled to the exemption
provided by this section.
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, provided that an owner who is absent while
receiving health-related care as an inpatient of a residential health-care
facility, as defined in § 2801 of the Public Health Law,
shall be deemed to remain a legal resident and an occupant of the
property while so confined, and income accruing to that person shall
be income only to the extent that it exceeds the amount paid by such
owner, spouse or co-owner for care in the facility; and provided,
further, that during such confinement such property is not occupied
by other than the spouse or co-owner of such owner.
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.
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 complete
assessment role 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 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 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.
