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 $35,400 for 2007 income tax year, $36,400 for 2008 income tax
year, or $37,400 for 2009 income tax year. "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 from
self-employment, no depreciation deduction shall be allowed for the
exhaustion, wear and tear or real or personal property held for the
production of income.
[Amended 11-8-2006 by L.L. No. 3-2006; 2-27-2008 by L.L. No. 1-2008]
B. 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; provided, further, that 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 and provided further that 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 section. Notwithstanding
any other provision of law, 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 the municipality with
the state of granting such exemption.
C. Unless the property is used exclusively for residential
purposes.
D. 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: except where:
(1) 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 one 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
(2) The real property is owned by a husband and/or wife,
or an ex-husband and/or 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 52 years of age or over.
E. In the event the owner, or all of the owners of property
which has received an exemption on the preceding assessment roll,
fail to file the application before the taxable status date such owner
or owners may file the application executed as if such application
had been filed on or before the taxable status date with the Assessor
on or about the date for hearing of complaints.
Application for such exemption need be made
by owner, or all of the owners of the property, on forms prescribed
by the state board 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 appropriate taxable status date. Any person
otherwise qualifying under this section shall not be denied the exemption
under this section if he becomes 65 years of age after the appropriate
taxable status date and on or before December 31 of the same year.