Town of Wappinger, NY Article I Senior Citizens Exemption

[Adopted 1-24-1967 by L.L. No. 1-1967]

§ 221-1 Purpose.

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 and who meet the requirements set forth in § 467 of the Real Property Tax Law of the State of New York.

§ 221-2 Tax exemption.

[Amended 2-16-1971 by L.L. No. 1-1971; 11-13-1972 by L.L. No. 1-1972; 9-9-1974 by L.L. No. 4-1974; 7-11-1977 by L.L. No. 5-1977; 2-13-1980 by L.L. No. 2-1980; 3-12-2001 by L.L. No. 2-2001; 2-24-2003 by L.L. No. 2-2003]

Real property owned by one or more persons, each of whom is 65 years of age or over, or real property owned by husband and wife or by siblings, one of whom is 65 years of age or over, shall be exempt from Town taxes to the extent of 50% of the assessed valuation thereof, subject to the following conditions:

A. The owner or all of the owners of such real property must file an application on forms provided by the Board of Real Property Services in the Assessor's office on or before the first of May of each year or at such date as may be hereafter fixed by law.

B. In order to be eligible for a fifty-percent tax exemption, the income of the owner or the combined income of the owners of the property shall not and may not exceed the sum of $24,000 for the income tax year immediately preceding the date of making the application for exemption. The "income tax year" shall mean the twelve-month period for which the owner or owners filed a federal personal income tax return, or if no such return is filed, the preceding calendar year. Where title is vested in either the husband or the wife, their combined income may not exceed such income. Such income shall include 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 the net income from self-employment, but shall not include a return of capital, gifts or inheritances, payments made to individuals because of their status as victims of Nazi persecution, as defined in P.L. 103-286, or monies earned through employment and the federal foster grandparent program, and such income shall be offset by all medical and prescription drug expenses actually paid which were 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.

[Amended 2-23-2004 by L.L. No. 1-2004[1]]

[1] Editor's Note: This local law provided that it be applied retroactively from 1-1-2004.

C. If the income of an eligible property owner or the combined income of the owners of the property exceeds the sum of $24,000, in the income tax year immediately preceding the date of making the application for tax exemption, and is not greater than $32,400, said owner shall be entitled to a partial exemption as follows:

[Amended 2-23-2004 by L.L. No. 1-2004[2]]

	Annual Income	Percentage of Assessed Valuation Exempt From Taxation
	$0 to $24,000.00	50%
	$24,001.00 to $25,000.00	45%
	$25,001.00 to $26,000.00	40%
	$26,001.00 to $27,000.00	35%
	$27,001.00 to $27,900.00	30%
	$27,901.00 to $28,800.00	25%
	$28,801.00 to $29,700.00	20%
	$29,701.00 to $30,600.00	15%
	$30,601.00 to $31,500.00	10%
	$31,500.00 to $32,400.00	5%

[2] Editor's Note: This local law provided that it be applied retroactively from 1-1-2004.

D. The title to such real property shall have been vested in the owner or all owners of such real property for at least 24 consecutive months prior to the date of making application for exemption. (Note: Notwithstanding any other provision of law, where a residence is sold and replaced with another within one year and both residences are within the state, the period of ownership of both properties shall be deemed consecutive for purposes of the exemption from taxation by a municipality within the state granting such exemption.)

E. The real property shall be used exclusively for residential purposes.

F. The real property shall be the legal residence of and shall be occupied in whole or in part by the owner or by all of the owners of the same.

G. Applications for such exemption shall be made by the owner or all of the owners of the property, upon forms prescribed by the Board of Real Property Services to be furnished by the assessing authority, and applicants shall furnish such information and shall execute the application in the manner prescribed in such forms. Such application must be filed with the Assessor on or before the first day of May of each year or such other date as may be hereafter filed by law.

H. All persons who meet the eligibility requirements as set forth in § 467 of the Real Property Tax Law, as amended from time to time hereafter, shall be eligible for such exemptions; the Town Assessor shall utilize the criteria set forth in § 467 of the Real Property Tax to establish the maximum income limits permitted by said law.