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, one of whom is 65 years of age or over, shall be exempt from taxation by the Village to the extent of 50% based upon a combined annual income for the income tax year immediately preceding the date of application for the exemption pursuant to the provisions of § 467 of the Real Property Tax Law, as amended.
[Amended 4-18-2011 by L.L. No. 5-2011; 10-19-2022 by L.L. No. 6-2022]
(1) 
The exemption hereinabove granted shall be computed pursuant to the tables set forth in Real Property Tax Law § 467(1) using the maximum income allowable for the owner or the combined income allowable for the owners as set forth in Real Property Tax Law § 467, Subdivision 3, as may be effective for the current tax year.
B. 
Any exemption provided by this section shall be computed after all partial exemptions allowed by law have been substituted from the total amount assessed.
C. 
The real property tax exemption on real property owned by husband and wife, one of whom is 65 years of age or over, once granted shall not be rescinded solely because of the death of the older spouse, so long as the surviving spouse is at least 62 years of age.
D. 
The Village hereby ratifies and reaffirms all previous resolutions, rules, regulations and/or ordinances adopted in accordance with Real Property Tax Law § 467 with respect to the income limitations for qualification for the exemption.
Exemption from taxation for school purposes shall not be granted in the case of real property where a child resides if such child attends a public school within the school district.
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 application for exemption is more than the maximum income allowable pursuant to Real Property Tax Law § 467, Subdivision 3, as may be amended from time to time. "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, 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 or wear and tear of real or personal property held for the production of income.
[Amended 10-19-2022 by L.L. No. 6-2022]
B. 
No exemption shall be granted 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 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 article, 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 a period of 24 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 24 consecutive months shall be deemed satisfied.
C. 
No exemption shall be granted 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 article.
D. 
No exemption shall be granted 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.
[Amended 1-14-2008 by L.L. No. 2-2008]
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 of Real Property Services, 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 taxable status date (March 1). Any person otherwise qualifying under this article shall not be denied the exemption under this article if he becomes 65 years of age after the appropriate taxable status date and before December 31 of the same year.
[Amended 1-14-2008 by L.L. No. 2-2008]
A. 
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 on or before taxable status date and be approved in order for the exemption to be granted. The assessing authority shall, within three days of the completion and filing of the tentative assessment roll, notify by mail any applicant who has included with his application at least one self-addressed, prepaid envelope of the approval or denial of the application; provided, however, that the assessing authority shall, upon the receipt and filing of the application, send by mail notification of receipt to any applicant who has included two of such envelopes with the application. Where an applicant is entitled to a notice of denial pursuant to this subsection, such notice shall be on a form prescribed by the State Board of Real Property Services.
B. 
Any person who has been granted an exemption pursuant to this article for five consecutive completed assessment rolls shall not be subject to the requirements set forth in Subsection A of this section. However, said person shall be mailed an application form and a notice informing him of his rights. Such exemption shall be automatically granted on each subsequent assessment roll; provided, however, that when tax payment is made by such person a sworn affidavit must be included with such which shall state that such person continues to be eligible for such exemption. Such affidavit shall be on a form prescribed by the State Board of Real Property Services. If such affidavit is not included with the tax payment, the collecting officer shall proceed pursuant to § 551 of the Real Property Tax Law.
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.