Village of Fultonville, NY
Montgomery County
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Table of Contents
Table of Contents
[HISTORY: Adopted by the Board of Trustees of the Village of Fultonville as indicated in article histories. Amendments noted where applicable.]
[Adopted 7-2-1975 by L.L. No. 1-1975; amended in its entirety 12-5-1995 by L.L. No. 2-1995]
The purpose of this article is to grant a partial exemption from taxation to the extent of 50% of the assessed valuation of 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 § 467 of the Real Property Tax Law.
Real property owned by persons 65 years of age or over shall be exempt from Village taxes up to 50% of the assessed valuation subject to the following conditions:
A. 
The owner or all of the owners must file an application annually in the Assessor's office at least 90 days before the day for filing the final assessment roll or such other time as may be hereafter fixed by law.
B. 
The income of the owner or the combined income of the owners shall not exceed the schedule of incomes with the corresponding exemptions as set forth below:
Income Up To Amount of Exemption
$8,000 50%
9,000 45%
10,000 40%
11,000 35%
11,900 30%
12,800 25%
13,700 20%
C. 
Title to the property must be vested in the owner or, if more than one, in all the owners for at least 12 consecutive months prior to the date that the application is filed; 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 12 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 12 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, and further provided that where a residence is sold and replaced with another within one year and is in the same assessment unit, 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 article.
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.
All further sliding-scale increments applicable in the Village of Fultonville shall be in compliance with all New York State legislation as it relates to Real Property Tax Law § 467.
This article shall be applicable to assessment rolls based on taxable status dates on or after January 1, 1996.
[Adopted 9-11-1989 by L.L. No. 3-1989]
Pursuant to the authority of § 458-a of the Real Property Tax Law, the amount of exemption provided by Subdivision 2(a), (b) and (c) of said section is hereby set as follows:
A. 
Twelve thousand dollars;
B. 
Eight thousand dollars; and
C. 
Forty thousand dollars.