Pursuant to § 459-c of the New York
Real Property Tax Law, real property owned by one or more persons
with disabilities, or real property owned by a husband, wife or both,
or by siblings, at least one of whom has a disability, and whose income,
as hereinafter defined, is limited by reason of such disability, shall
be exempt from real property taxation by the City of Amsterdam to
the extent as provided in the following schedule:
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
---|
Less than $12,000
|
50%
|
More than $12,000 but less than $12,599.99
|
45%
|
More than $12,600 but less than $13,199.99
|
40%
|
More than $13,200 but less than $13,799.99
|
35%
|
More than $13,800 but less than $14,399.99
|
30%
|
More than $14,400 but less than $14,999.99
|
25%
|
More than $15,000 but less than $15,599.99
|
20%
|
The aforesaid exemption may be subject to the
following conditions, to wit:
A. No exemption shall be granted 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 an application
for exemption exceeds the sum of $15,599.99. "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.
(1) Where the title is vested in either the husband or
wife, their combined income may not exceed such sum; except that,
where the husband or wife, or ex-husband or ex-wife, is absent from
the property due to divorce, legal separation or abandonment, then
only the income of the spouse or ex-spouse residing at the property
shall be considered and may not exceed such sum.
(2) 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 from self-employment, but shall
not include a return of capital, gifts, inheritance or monies earned
through employment in the federal foster grandparent program, and
any such income shall be offset by all medical and prescription drug
expenses actually paid which were not reimbursed or paid for by insurance.
(a)
In computing net rental income and net income
from self-employment, no depreciation deduction shall be allowed for
the exhaustion or wear and tear of real or personal property held
for the production of income.
B. No exemption shall be granted unless the property
is used exclusively for residential purposes; provided, however, that
in the event that any portion is not 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 herein.
C. No exemption shall be granted unless the real property
is the legal residence of and is occupied in whole or in part by the
disabled person; except where the disabled person 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 for the purposes of
this section is exempt only to the extent that it exceeds the amount
paid by such person or spouse or sibling of such person for care in
the facility.