[Adopted 12-1-1975 by L.L. No. 11-1975 (Ch. 40, Art II, of the 1979 Code)]
[Amended 6-4-1979 by L.L. No. 2-1979]
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, one of whom is 65 years of age or over, shall be
exempt from taxation by the Village of Delhi, in which it is located,
to the extent of 50% of the assessed valuation thereof. Such exemption
shall be computed after all other partial exemptions allowed by law
have been subtracted from the total amount assessed.
[Amended 6-4-1979 by L.L. No. 2-1979; 10-5-1981 by L.L. No.
5-1981; 7-16-1984 by L.L. No. 5-1984]
A.
No exemption shall be granted if the income of the
owner or the combined income of the owners of the property for the
income year immediately preceding the date of making application for
exemption exceeds the sum of $10,600.
[Amended 3-4-1992 by L.L. No. 2-1992]
B.
However, partial exemptions shall be granted for those
having incomes under $10,600, according to this schedule:
[Amended 3-4-1992 by L.L. No. 2-1992]
|
Annual Income
|
Percent of Assessed Valuation Exempt From
Taxation
| |
|---|---|---|
|
$7,000 or below
|
50%
| |
|
More than $7,000 but less than $7,600
|
45%
| |
|
More than $7,600 but less than $8,200
|
40%
| |
|
More than $8,200 but less than $8,800
|
35%
| |
|
More than $8,800 but less than $9,400
|
30%
| |
|
More than $9,400 but less than $10,000
|
25%
| |
|
More than $10,000 but less than $10,600
|
20%
| |
|
More than $10,600
|
No reduction
|
C.
"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 calendar year. Where title
is vested in either the husband or the wife, their combined income
may not exceed such sum. Such income shall include social security
and retirement benefits, interest, dividends, net rental income, salary
or earnings and net income from self-employment but shall not include
gifts or inheritances.
D.
Exemptions shall not be granted unless there is compliance
with such other restrictions, regulations, standards, etc., as are
set forth in § 467 of the Real Property Tax Law of New York
State, as the same may be from time to time amended.
[Amended 6-4-1979 by L.L. No. 2-1979]
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 appropriate assessing authority
and shall furnish the information and be executed in the manner required
or prescribed in such forms and be filed in such Assessor's office
on or before the appropriate taxable status date.
