Pursuant to the provisions of § 459-c
of the Real Property Tax Law ("RPTL") of the State of New York, real
property owned by one or more persons with disabilities [as defined
by RPTL § 459-c(2)(b)], or real property owned by a husband,
wife, or both, or by siblings [as defined by RPTL § 459-c(2)(a)],
at least one of whom has a disability, and whose income, as hereafter
defined, is limited by reason of such disability, shall be exempt
from Town real property taxation to the extent of 50% of the assessed
valuation thereof as hereinafter provided.
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 $48,400 for the year 2023; $53,400 for the year 2024; and $58,400
for the year 2025. "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, except 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
on the property shall be considered and 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, inheritances 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, if the governing
board of a municipality, after a public hearing, adopts a local law,
ordinance or resolution providing therefor. In computing net rental
income and net 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 2-7-2023 by L.L. No. 1-2023]
B. Unless the property is used exclusively for residential
purposes; provided, however that in the event 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;
C. 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 accruing to that person shall be considered income
for purposes of this article 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.
[Amended 2-7-2023 by L.L. No. 1-2023]
This article shall take effect immediately and shall apply to the assessment roll as follows: for § 467-14A(1) commencing for the year 2023 and for the taxable year 2023/2024; for §
67-14A(2) commencing for the year 2024 and for the taxable year 2024/2025; and for §
67-14A(3) commencing for the year 2025 and for the taxable year 2025/2026.