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 disabilities
who meet the requirements set forth in § 459-c of the Real
Property Tax Law.
As used in this article, the following terms
shall have the meanings indicated:
INCOME
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 moneys earned through employment in
the federal foster grandparent program. Any such income shall be reduced
by the amount of all medical and prescription drug expenses actually
paid which are not reimbursed or paid for by insurance. In computing
net rental income and net income from self-employment, no depreciation
deduction shall be allowed for the exhaustion or wear and tear of
real or personal property held for the production of income.
INCOME TAX YEAR
The twelve-month period for which the owner or owners filed
a federal personal income tax return or, if no return is filed, the
calendar year.
PERSON WITH A DISABILITY
A person who has a physical or mental impairment, not due
to current use of alcohol or illegal drugs, which substantially limits
such person's ability to engage in one or more major life activities,
such as caring for one's self, performing manual tasks, walking, seeing,
hearing, speaking, breathing, learning and working, and who:
A.
Is certified to receive social security disability
insurance (SSDI) or supplemental security income (SSI) benefits under
the federal Social Security Act; or
B.
Is certified to receive railroad retirement
disability benefits under the federal Railroad Retirement Act; or
C.
Has received a certificate from the State Commission
for the Blind and Visually Handicapped stating that such person is
legally blind.
SIBLING
A brother or a sister, whether related through whole blood,
half blood or adoption.
Application for such exemption must be made
annually by the owner or all of the owners of the property on forms
provided by the Assessor and must be filed in the Assessor's office
on or before the appropriate taxable status date. Art award letter
from the Social Security Administration or the Railroad Retirement
Board or a certificate from the State Commission for the Blind and
Visually Handicapped must be submitted as proof of disability. Proof
of a permanent disability need be submitted only in the year exemption
pursuant to this section is first sought or the disability is first
determined to be permanent.
The following reduced extent of exemption shall be granted to persons whose annual income exceeds the level provided in §
155-6:
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
---|
More than $17,500 but less than $18,500
|
45%
|
$18,500 or more, but less than $19,500
|
40%
|
$19,500 or more, but less than $20,500
|
35%
|
$20,500 or more, but less than $21,400
|
30%
|
$21,400 or more, but less than $22,300
|
25%
|
$22,300 or more, but less than $23,200
|
20%
|