In pursuance of the provision of § 467 of the Real Property Tax Law of the State of New York, the Charter of the City of Oswego, New York, as heretofore amended and superseded, is hereby amended to read as follows below.
[Adopted 4-10-1995 as L.L. No. 1-1995]
[Amended 2-25-2019 by L.L. No. 1-2019; 5-23-2022 by L.L. No. 3-2022; 12-11-2023 by L.L. No. 4-2023]
A.
Real property owned by one or more persons, each of whom is 65 years of age or over, or real property owned by husband and wife or by siblings, one of whom is 65 years of age or over, shall be exempt from taxation for county purposes up to a maximum of 50% of the assessed value, provided the owner(s) meet the qualifications set forth below. For the purposes of this section, "sibling" shall mean a brother or a sister, whether related through half blood, whole blood or adoption. Any person otherwise qualifying under this section shall not be denied the exemption under this section if they become 65 years of age after the appropriate taxable status date and on or before December 31 of the same year.
Exemption Percentage | Income Range Low | High |
|---|---|---|
50% | $0 | $29,000 |
45% | $29,000.01 | $29,999.99 |
40% | $30,000 | $30,999.99 |
35% | $31,000 | $31,999.99 |
30% | $32,000 | $32,899.99 |
25% | $32,900 | $33,799.99 |
20% | $33,800 | $34,699.99 |
15% | $34,700 | $35,599.99 |
10% | $35,600 | $36,499.99 |
5% | $36,500 | $37,399.99 |
0% | $37,400 and over |
B.
The "applicable income tax year" as used herein shall mean the second most recent calendar year.
C.
The term "income" as defined herein shall mean "adjusted gross income" for federal income tax purposes as reported on an applicant's federal or state income tax return for the applicable income tax year, as defined in and as is subject to any subsequent amendments to Real Property Tax Law § 467(3)(iv) et seq.; provided, however, if no such tax return was filed for the applicable income tax year, the applicant's income shall be determined based on the amounts that would have so been reported if such a return had been filed; and provided further, that when determining income for purposes of this section, the following conditions shall be applicable:
(1)
Any social security benefits not included in such federal adjusted gross income shall be considered income;
(2)
Distributions received from an individual retirement account or individual retirement annuity that were included in the applicant's federal adjusted gross income shall be considered income and shall not be excluded;
(3)
Any tax-exempt interest or dividends that were excluded from the applicant's federal adjusted gross income shall be considered income;
(4)
Any losses that were applied to reduce the applicant's federal adjusted gross income (AGI) shall be subject to the following limitations:
D.
Where title is vested in a married person, the combined income of such person and such person's spouse may not exceed such sum, except where one spouse or ex-spouse is absent from the property, as provided in Subsection F(3), then only the income of the spouse or ex-spouse residing on the property shall be considered and may not exceed such sum.
E.
No exemption shall be granted hereunder if the income of the owner or the combined income of the owners of the property for the applicable income tax year exceeds the sum provided in Subsection A of this section.
F.
No exemption shall be granted hereunder unless:
(1)
The owner shall have held an exemption under this section for his previous residence or 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. 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. 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 subsection. 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 by a municipality within the state granting such exemption. Where the owner or owners transfer title to property which as of the date of transfer was exempt from taxation under the provisions of this subsection, the reacquisition of title by such owner or owners within nine months of the date of transfer shall be deemed to satisfy the requirement of this subsection that the title of the property shall have been vested in the owner or one of the owners for such period of 12 consecutive months. Where, upon or subsequent to the death of an owner or owners, title to property which as of the date of such death was exempt from taxation under such provisions, becomes vested, by virtue of devise or descent from the deceased owner or owners, or by transfer by any other means within nine months after such death, solely in a person or persons who, at the time of such death, maintained such property as a primary residence, the requirement of this subsection that the title of the property shall have been vested in the owner or one of the owners for such period of 12 consecutive months shall be deemed satisfied;
(2)
The property is used exclusively for residential purposes; provided, however, that in the event 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;
(3)
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: except where:
(a)
An owner is absent from the residence while receiving health-related care as an inpatient of a residential health care facility, as defined in § 2801 of the Public Health Law; provided, that any income accruing to that person shall only 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; or
(b)
The real property is owned by a husband and/or wife, or an ex-husband and/or an ex-wife, and either is absent from the residence due to divorce, legal separation or abandonment and all other provisions of this section are met, provided that where an exemption was previously granted when both resided on the property, then the person remaining on the real property shall be 62 years of age or over.
(4)
The real property otherwise meets the qualifications contained in Real Property Tax Law § 467, as the same may be amended from time to time.
G.
Application for such exemption must be made by the owner, or all of the owners of the property upon such forms as may be prescribed from time to time by the NYS Office of Real Property Services. Such applications must be filed with the assessor of the town or city in which the real property is located on or before the taxable status date. Nothing herein shall impair a partial exemption presently enjoyed by an eligible property owner.
[Amended 2-25-2019 by L.L. No. 1-2019; 3-22-2021 by L.L. No. 1-2021]
A.
Real property owned by one or more persons, either of whom is eligible for a partial exemption of taxation of property pursuant to the provisions of § 224-18 herein, shall be partially exempt from water rents 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, does not exceed the following levels:
Annual Income | Reduction of Water Rents |
|---|---|
$22,500 or less | 75% |
More than $22,501, but less than $23,500 | 70% |
$23,501 or more, but less than $24,500 | 65% |
$24,501 or more, but less than $25,500 | 60% |
$25,501 or more, but less than $26,500 | 55% |
$26,501 or more, but less than $27,500 | 50% |
$27,501 or more, but less than $28,500 | 45% |
$28,501 or more, but less than $29,500 | 40% |
$29,501 or more, but less than $30,500 | 35% |