[Adopted 6-4-2001 by L.L. No. 9-2001]
A.
Exemption established.
[Amended 12-16-2002 by L.L. No. 22-2002; 10-3-2006 by L.L. No. 9-2006; 5-7-2007 by L.L. No. 7-2007]
(1)
For assessment rolls prepared on this basis of a taxable
status date occurring for the period expiring June 30, 2007, the exemption
shall be as follows:
|
Annual Income
|
Percentage of Assessed Value Exempt From
Taxation
| |
|---|---|---|
|
$0 to $26,000.00
|
50%
| |
|
$26,000.01 to $26,999.99
|
45%
| |
|
$27,000.00 to $27,999.99
|
40%
| |
|
$28,000.00 to $28,999.99
|
35%
| |
|
$29,000.00 to $29,899.99
|
30%
| |
|
$29,900.00 to $30,799.99
|
25%
| |
|
$30,800.00 to $31,699.99
|
20%
| |
|
$31,700.00 to $32,599.99
|
15%
| |
|
$32,600.00 to $33,499.99
|
10%
| |
|
$33,500.00 to $34,399.99
|
5%
|
(2)
For the period commencing July 1, 2007, and expiring
June 30, 2008, the exemption shall be as follows:
|
Annual Income
|
Percentage of Assessed Value Exempt From
Taxation
| |
|---|---|---|
|
$0 to $27,000.00
|
50%
| |
|
$27,000.01 to $27,999.99
|
45%
| |
|
$28,000.00 to $29,999.99
|
40%
| |
|
$29,000.00 to $29,999.99
|
35%
| |
|
$30,000.00 to $30,899.99
|
30%
| |
|
$30,900.00 to $31,799.99
|
25%
| |
|
$31,800.00 to $32,699.99
|
20%
| |
|
$32,700.00 to $33,599.99
|
15%
| |
|
$33,600.00 to $33,499.99
|
10%
| |
|
$34,500.00 to $35,399.99
|
5%
|
(3)
For the period commencing July 1, 2008, and expiring
June 30, 2009, the exemption shall be as follows:
|
Annual Income
|
Percentage of Assessed Value Exempt From
Taxation
| |
|---|---|---|
|
$0 to $28,000.00
|
50%
| |
|
$28,000.01 to $28,999.99
|
45%
| |
|
$29,000.00 to $29,999.99
|
40%
| |
|
$30,000.00 to $30,999.99
|
35%
| |
|
$31,000.00 to $31,899.99
|
30%
| |
|
$31,900.00 to $32,799.99
|
25%
| |
|
$32,800.00 to $33,699.99
|
20%
| |
|
$33,700.00 to $34,599.99
|
15%
| |
|
$34,600.00 to $35,499.99
|
10%
| |
|
$35,500.00 to $36,399.99
|
5%
|
(4)
For the period commencing July 1, 2009, the exemption
shall be as follows:
|
Annual Income
|
Percentage of Assessed Value Exempt From
Taxation
| |
|---|---|---|
|
$0 to $29,000.00
|
50%
| |
|
$29,000.01 to $29,999.99
|
45%
| |
|
$30,000.00 to $30,999.99
|
40%
| |
|
$31,000.00 to $31,999.99
|
35%
| |
|
$32,000.00 to $32,899.99
|
30%
| |
|
$32,900.00 to $33,799.99
|
25%
| |
|
$33,800.00 to $34,699.99
|
20%
| |
|
$34,700.00 to $35,599.99
|
15%
| |
|
$35,600.00 to $36,499.99
|
10%
| |
|
$36,500.00 to $37,399.99
|
5%
|
B.
The income of the owner or the combined income of
the owners of the property, from all sources, as set forth in New
York State Real Property Tax Law § 459-c, for the income
tax year immediately preceding the date of making application for
exemption must not exceed $29,899.99.[1] "Income tax year" shall mean the twelve-month period for
which the owner or owners file a federal personal income tax return
or, if no such return is filed, the calendar year.
[Amended 12-16-2002 by L.L. No. 22-2002]
[1]
Editor's Note: Pursuant to L.L. No. 7-2007,
adopted 5-7-2007, the income must not exceed $34,399.99 for the period
expiring June 30, 2007; $35,399.99 for the period July 1, 2007, through
June 30, 2008; $36,399.99 for the period July 1, 2008, through June
30, 2009; and $37.399.99 for the period commencing July 1, 2009.
C.
Only that portion of property used exclusively for
residential purposes shall be eligible for exemption pursuant to this
article.
D.
Except as otherwise provided for in New York State
Real Property Tax Law § 459-c, to be eligible for exemption
pursuant to this article, property must be the legal residence of,
and be occupied in whole or in part by, the disabled person.
E.
Any exemption provided by this article shall be computed after all other partial exemptions allowed by law have been subtracted from the total amount assessed; provided, however, that no parcel may receive both an exemption pursuant to this article and a senior citizens' tax exemption pursuant to Article III of this chapter.
F.
Notwithstanding any other provision of this article
to the contrary, the provisions of this article shall apply to real
property held in trust solely for the benefit of a person or persons
who would otherwise be eligible for a real property tax exemption,
pursuant to this article, were such person or persons the owner or
owners of such real property.
Application for an exemption pursuant to this
article must be filed by the owner or by all of the owners of the
property annually in the Assessor's office on forms prescribed by
the New York State Board of Real Property Services on or before the
appropriate taxable status date.
As set forth in Real Property Tax Law § 459-c(6),
title to that portion of real property owned by a cooperative apartment
corporation in which a tenant-stockholder resides and which is represented
by his or her share or shares of stock in such corporation determined
by its or their proportional relationship to the total outstanding
stock of the corporation, including that owned by the corporation,
shall be deemed to be vested in such tenant-stockholder. That proportion
of the assessment of such real property owned by a cooperative apartment
corporation determined by the relationship of such real property vested
in such tenant-stockholder to such real property owned by such cooperative
apartment corporation in which such tenant-stockholder resides shall
be subject to exemption from taxation pursuant to Real Property Tax
Law § 459-c, and any exemption so granted shall be credited
by the appropriate taxing authority against the assessed valuation
of such real property. The reduction in real property taxes realized
thereby shall be credited by the cooperative apartment corporation
against the amount of such taxes otherwise payable by or chargeable
to such tenant-stockholder.
