[Adopted 9-6-1966; amended in its entirety 8-3-1982]
Pursuant to § 467 of the Real Property
Tax Law, real property owned by one or more persons, each of whom
is 65 years of age or over, or real property owned by husband or wife,
one of whom is 65 years of age or over, shall be exempt from tax levied
by the City of Amsterdam to the extent of 50% of the assessed valuation
thereof.
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 $6,500. "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 the wife, their combined income
may not exceed such sum. Such income shall include social security
and retirement benefits, interest, dividends, net rental income, salary
or earnings and net income from self-employment, but shall not include
gifts or inheritances.
B.
Unless the title of the property shall have been vested
in the owner or all 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, and, provided further, that
where the property of the owner or owners has been acquired and taken
by eminent domain or other involuntary proceedings, 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 the purposes of this section.
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 the owners of the
property.
A.
Application for such exemption must be made by the
owner or all of the owners of the property on forms prescribed and
furnished by the Board of Assessors and shall furnish the information
and be executed in the manner required or prescribed in such forms
and shall be filed annually in the office of said Board of Assessors
at least 90 days before the day for filing the final assessment roll
or within such other time as may hereinafter be fixed by law.
B.
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 section 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 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
from further exemption for a period of five years.
Exemptions shall be as follows:
|
Total Income of Owner/Owners
|
Percentage Assessed Valuation Exempt From
Taxation
|
|---|---|
|
Up to $8,000
|
50%
|
|
More than $8,000 but less than $8,500
|
45%
|
|
More than $8,500 but less than $9,000
|
40%
|
|
More than $9,000 but less than $9,500
|
35%
|
|
More than $9,500 but less than $10,000
|
30%
|
|
More than $10,000 but less than $10,500
|
25%
|
|
More than $10,500 but less than $11,000
|
20%
|
