Real property owned by persons with disabilities who qualify under Real Property Tax Law § 459-c shall be exempt from City taxes to the extent of 50% of the assessed valuation subject to the following conditions:
A.
Income limits.
Income Limit | Exemption |
|---|---|
Up to $35,000 | 50% |
$35,001 to $36,000 | 45% |
$36,001 to $37,000 | 40% |
$37,001 to $38,000 | 35% |
$38,001 to $38,900 | 30% |
$38,901 to $39,800 | 25% |
$39,801 to $40,700 | 20% |
$40,701 to $41,600 | 15% |
$41,601 to $42,500 | 10% |
$42,501 to $43,400 | 5% |
B.
Application for such exemption must be made annually by the owner, or all of the owners of the property, on forms prescribed by the NYS Commissioner of Taxation and Finance, and shall be filed in such Assessor's Office on or before the appropriate taxable status date; provided, however, 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.
C.
Improvement to any real property used solely for residential purposes as a one-, two- or three-family residence shall be exempt from taxation to the extent of any increase in value attributable to such improvement if such improvement is used for the purpose of facilitating and accommodating the use and accessibility of such real property by a resident owner of the real property who is physically disabled or a member of the resident owner's household who is physically disabled if such member resides in the real property. Such exemption shall apply to improvements constructed prior to the effective date of this article.