[Adopted 9-14-1970 by L.L. No. 2-1970]
[Amended 9-26-1977 by L.L. No. 16-1977]
A.
Pursuant to § 467 of the Real Property Tax
Law, as amended, real property owned by one or more persons, each
of whom will be 65 years of age or over during the taxable status
year, or real property owned by husband and wife, one of whom will
be 65 years of age or over during the taxable status year, shall be
exempt from taxation by the Incorporated Village of Lynbrook to the
extent of the following percentage of assessed valuation thereof:
[Amended last 4-24-2023 by L.L. No. 5-2022]
|
Annual Income
|
Percentage of Assessed Valuation Exempt From Taxation
|
|---|---|
|
Less than $34,000
|
50%
|
|
At least $34,000 but less than $34,250
|
45%
|
|
At least $34,250 but less than $34,500
|
40%
|
|
At least $34,500 but less than $34,750
|
35%
|
|
At least $34,750 but less than $35,000
|
30%
|
|
At least $35,000 but less than $35,800
|
25%
|
|
At least $35,800 but less than $36,700
|
20%
|
|
At least $36,700 but less than $37,600
|
15%
|
|
At least $37,600 but less than $38,500
|
10%
|
|
At least $38,500 but less than $42,400
|
5%
|
B.
Such exemption shall be computed after all other partial
exemptions allowed by law have been subtracted from the total amount
assessed and shall be applicable to the assessment roll for the taxable
year immediately following application for exemption.
C.
The real property tax exemption on real property owned
by husband and wife, one of whom will be 65 years of age or over during
the taxable status year, once granted, shall not be rescinded solely
because of the death of the older spouse, so long as the surviving
spouse is at least 62 years of age.
[Amended 10-16-1989 by L.L. No. 2-1989]
No exemption shall be granted:
A.
Income of owner(s): if the income of the owner or
combined income of the owners of the property exceeds the sum of $42,400
for the income-tax year immediately preceding the date of making application
for exemption. Where title is vested in either the husband or wife,
their combined income may not exceed such sum. 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 net income
from self-employment, but shall not include a return of capital, gifts
or inheritances.
[Amended last 4-24-2023 by L.L. No. 5-2022]
B.
Duration of title. Unless the title of the property
shall have been vested in the owner or all of the owners of the property
for at least 24 consecutive months prior to the date of making the
application for exemption.
[Amended 9-26-1977 by L.L. No. 16-1977]
C.
Use of property. Unless the property is used exclusively
for residential purposes.
D.
Occupancy of property. Unless the real property is
the legal residence of and is occupied in whole or in part by the
owner or by all of the owners of the property.
Application for such exemption must be made
by the owner or all of the owners of the property, on forms prescribed
by the State Board, to be furnished by the Assessor of the Incorporated
Village of Lynbrook, 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 taxable status date.
At least 60 days prior to the appropriate taxable
status date, the Assessor of the Incorporated Village of Lynbrook
shall mail to each person who was granted exemption pursuant to this
section on the latest completed assessment roll an application form
and a notice that such application must be filed on or before the
taxable status date and be approved in order for the exemption to
be granted. Failure to mail any such application form and notice or
the failure of such person to receive same shall not prevent the levy,
collection and enforcement of the payment of the taxes on property
owned by such person.
Any conviction of having made any willful false
statement in the application for such exemption shall be punishable
by a fine of not more than $100 and shall disqualify the applicant
or applicants from further exemption for a period of five years.
