Pursuant to the provisions of § 467 of the Real Property Tax Law, as amended, the purpose of this article is to grant a partial exemption from taxation, to the extent as set forth in §
35-7, of the assessed valuation of the real property which is owned by certain persons with limited income who are 65 years of age or over, meeting the requirements set forth in such § 467.
Real property owned by persons 65 years of age or over shall be exempt from taxes, except school district taxes, to the extent as set forth in §
35-7, subject to the following conditions:
A. The owner or all owners of real property located in
the Village of Harrison must file an application annually in the Assessor's
office of the Village of Harrison on or before June 1 (the taxable
status date), or such other time as may be hereafter fixed by law. For
the year 1977, applications must be filed no later than September
15, 1977.
B. The income of the owner or the combined income of
the owners must not exceed $13,500 from all sources as set forth in
such § 467 for the 12 consecutive months for which the owner
or owners filed a federal personal income tax return or, if there
is no such return, the calendar year immediately prior to the date
that the application is filed. Where title is vested in either the
husband or wife, the combined income may not exceed such sum.
C. Title to the property must be vested in the owner
or, if more than one, in all of the owners for at least 24 months
prior to the date that the application is filed.
D. The property must be used exclusively for residential
purposes, be occupied in whole or in part by the owners and constitute
the legal residence of the owners.
[Amended 5-10-2007 by L.L. No. 2-2007]
The income of the owner or the combined income
of the owners for the calendar year prior to the date that the application
is filed shall determine the percentage of assessed valuation which
is exempt from taxation, in accordance with the following schedule:
A. For the period expiring June 30, 2007:
Annual Income
|
Percentage of Assessed Value Exempt from
Taxation
|
---|
$0 to $26,000
|
50%
|
$26,000.01 to $26,999.99
|
45%
|
$27,000 to $27,999.99
|
40%
|
$28,000 to $28,999.99
|
35%
|
$29,000 to $29,899.99
|
30%
|
$29,900 to $30,799.99
|
25%
|
$30,800 to $31,699.99
|
20%
|
$31,700 to $32,599.99
|
15%
|
$32,600 to $33,499.99
|
10%
|
$33,500 to $34,399.99
|
5%
|
B. For the period commencing July 1, 2007 and expiring
June 30, 2008:
Annual Income
|
Percentage of Assessed Value Exempt from
Taxation
|
---|
$0 to $27,000
|
50%
|
$27,000.01 to $27,999.99
|
45%
|
$28,000 to $28,999.99
|
40%
|
$29,000 to $29,999.99
|
35%
|
$30,000 to $30,899.99
|
30%
|
$30,900 to $31,799.99
|
25%
|
$31,800 to $32,699.99
|
20%
|
$32,700 to $33,599.99
|
15%
|
$33,600 to $34,499.99
|
10%
|
$34,500 to $35,399.99
|
5%
|
C. For the period commencing July 1, 2008 and expiring
June 30, 2009:
Annual Income
|
Percentage of Assessed Value Exempt from
Taxation
|
---|
$0 to $28,000
|
50%
|
$28,000.01 to $28,999.99
|
45%
|
$29,000 to $29,999.99
|
40%
|
$30,000 to $30,999.99
|
35%
|
$31,000 to $31,899.99
|
30%
|
$31,900 to $32,799.99
|
25%
|
$32,800 to $33,699.99
|
20%
|
$33,700 to $34,599.99
|
15%
|
$34,600 to $35,499.99
|
10%
|
$35,500 to $36,399.99
|
5%
|
D. For the period commencing July 1, 2009
Annual Income
|
Percentage of Assessed Value Exempt from
Taxation
|
---|
$0 to $29,000
|
50%
|
$29,000.01 to $29,999.99
|
45%
|
$30,000 to $30,999.99
|
40%
|
$31,000 to $31,999.99
|
35%
|
$32,000 to $32,899.99
|
30%
|
$32,900 to $33,799.99
|
25%
|
$33,800 to $34,699.99
|
20%
|
$34,700 to $35,599.99
|
15%
|
$35,600 to $36,499.99
|
10%
|
$36,500 to $37,399.99
|
5%
|