[Amended 4-18-2011 by L.L. No. 3-2011]
A. Pursuant and subject to the provisions of § 467
of the Real Property Tax Law of the State of New York, real property
located within the Incorporated Village of Port Jefferson that is
owned by one or more persons, each of whom is 65 years of age or over,
or owned by husband and wife, or by siblings, one of whom is 65 years
of age or over, shall be exempt from any tax imposed by the Incorporated
Village of Port Jefferson 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. "Sibling" shall mean a brother or
a sister, whether related through half blood, whole blood or adoption.
[Amended 11-7-2022 by L.L. No. 2-2022]
(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(3) as
may be effective for the current tax year.
B. Any exemption
provided by this article shall be computed after all other partial
exemptions allowed by law, excluding the school tax relief (STAR)
exemption authorized by § 425 of the Real Property Tax Law,
have been subtracted from the total assessed value.
C. Where title
is vested in either the husband or the wife, their combined income
may not exceed the annual income requirements except as otherwise
provided for in § 467 of the Real Property Tax Law. Such
annual income shall include social security income 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 all medical and prescription expenses which are
not reimbursed or paid by insurance and veteran’s disability
compensation as defined in Title 38 of the United States, a return
of capital, gifts, inheritances and other items excluded by § 467
of the Real Property Tax Law.
D. An exemption
provided by this article 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rescinded solely because of the death of the older spouse so long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.
E. Pursuant to the provisions of § 459-a of
the Real Property Tax Law of the State of New York, improvements,
alterations or installations to remove architectural barriers in existing
property located within the Incorporated Village of Port Jefferson
occupied by one or more persons who is determined to be disabled subsequent
to the Americans with Disabilities Act of 1990 is exempt from taxation
to the extent of any increase in value attributable to these improvements.
These improvements are exempt for up to 10 years, as determined by
the following schedule:
|
Year of Exemption
|
Percentage of Exemption
|
---|
|
1
|
50
|
|
2
|
45
|
|
3
|
40
|
|
4
|
35
|
|
5
|
30
|
|
6
|
25
|
|
7
|
20
|
|
8
|
15
|
|
9
|
10
|
|
10
|
5
|
The determination of whether an application
for exemption shall be granted and whether the property shall be exempt
under the provisions of this article shall be made by the Assessors,
and their determination shall be final. If the Assessors determine
that the application for exemption is granted and that the property
is exempt, they shall make appropriate entries upon the assessment
roll opposite the description of such property. If the Assessors determine
that the application for exemption is not granted, the property shall
be fully subject to any tax imposed by the Incorporated Village of
Port Jefferson.