This article shall be known as the "Victor Partial
Exemption from Taxation of Certain Real Property Owned by Persons
Sixty-Five Years of Age or Over Local Law."
[Amended 9-25-2006 by L.L. No. 7-2006]
A. The purpose of this article is to grant a partial
exemption from taxation to the maximum extent of 50% of the assessed
valuation of real property owned by certain persons with limited income
who are 65 years of age or over.
B. To qualify for said exemption, an owner, or owners,
must meet the requirements for senior citizen ownership status, residency,
occupancy and income as set forth in § 467 of the New York
State Real Property Tax Law, as amended from time to time, at the
discretion of the Town Board.
[Amended 4-23-2007 by L.L. No. 3-2007; 9-12-2022 by L.L. No. 5-2022]
C. Qualified applicants may deduct from their incomes
all medical and prescription drug expenses that are not reimbursed
or paid by insurance. Veteran disability compensation, as defined
in Title 38 of the United States Code, shall not be treated as income.
D. Any person otherwise qualifying under this article
shall not be denied the exemption if they become 65 years of age after
the appropriate taxable status date and on or before December 31 of
the same year.
E. No exemption shall be granted if the income of the
owner or the combined income of all the owners of property, for the
income tax year immediately preceding the date of making application
for exemption, exceeds the maximum as allowed by Real Property Tax
Law § 467, except that, if the aforesaid income is more
than allowed, then such real property shall be exempt to the extent
provided in New York State Real Property Tax Law § 467(1)(b)(1),
(2) and (3).
F. In the event the owner, or all of the owners, of property which has
received an exemption pursuant to § 467 of the Real Property
Tax Law of New York State on the preceding assessment roll fail to
file a renewal application as required on or before taxable status
date, the owners may still file the renewal application with the Town
Assessor on or before the fourth Tuesday of May, and the Town Assessor
is authorized to receive and to execute this renewal application as
if it had been filed on or before the taxable status date.
[Added 11-26-2012 by L.L. No. 19-2012]