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.
[Adopted 2-6-1969 by Ord. No. 23]
A.
Real property owned by persons 65 years of age or over shall be exempt from Town taxes to the extent of 50% of the assessed valuation, subject to the following conditions:
(1)
The owner or all of the owners of real property seeking qualification for exemption must file an application annually in the Assessor's office on forms prescribed by the Town 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.
[Amended 12-3-1990]
(2)
The income of the owner or combined income of the owners must not exceed $29,000 for the income tax year immediately preceding the date of making the application for exemption. "Income tax year" shall mean the twelve-month period for which the owners filed a federal personal income tax return or, if no such return is filed, the calendar year.
[Amended 4-29-1971; 1-14-1975; 1-25-1977; 9-22-1981; 3-8-1983; 3-27-1984; 1-13-1987; 7-11-1989; 12-3-1990; 1-16-1995 by L.L. No. 1-1995; 3-19-2012 by L.L. No. 4-2012]
(3)
Title to the property must be vested in the owner or, if more than one, in all owners for at least 24 consecutive months prior to the date that the application is filed.
[Amended 12-3-1990]
(4)
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.
(5)
The exemption provided herein is granted only to the extent allowed or provided by the Real Property Tax Law of the State of New York. If this article should be more restrictive, then this article shall control.
[Added 1-16-1995 by L.L. No. 1-1995]
B.
Notwithstanding any other provision of this article or law, 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 before December 31 of the same year.
[Added 12-3-1990]
[Added 7-11-1989; amended 11-20-1989; 12-3-1990; 1-16-1995 by L.L. No. 1-1995; 3-19-2012 by L.L. No. 4-2012]
A further exemption is provided to increase the maximum income eligibility level for a senior citizens exemption is provided as follows:
Annual Income | Percentage of Assessed Valuation Exempt From Taxation |
|---|---|
$29,000 or less | 50% |
More than $29,001 but less than $29,999 | 45% |
$30,000 or more, but less than $30,999 | 40% |
$31,000 or more, but less than $31,999 | 35% |
$32,000 or more, but less than $32,899 | 30% |
$32,900 or more, but less than $33,799 | 25% |
$33,800 or more, but less than $34,699 | 20% |
$34,700 or more, but less than $35,599 | 15% |
$35,600 or more, but less than $36,499 | 10% |
$36,500 or more, but less than $37,399 | 5% |