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 any one person with limited income who
is 65 years of age or over meeting the requirements set forth in § 467
of the Real Property Tax Law.
Real property owned by persons 65 years of age or over shall
be exempt from town taxes to the extent of 50% of the assessed valuation,
subject to the following conditions:
A. The owner or all of the owners must file an application annually
in the Assessor's office at least 90 days before the day for filing
the final assessment roll or such other time as may be hereafter fixed
by law.
B. The income eligibility levels are hereby modified pursuant to and
in accordance with § 467 of the Real Property Tax Law. The
percentage of exemption shall be based on the maximum annual income
ranges specified herein as follows:
[Amended 2-20-1975; 10-20-1977; 2-19-1981; 4-18-1982; 12-29-1983; 9-15-1988; 2-15-1990 by Ord. No. 1-1990; 4-18-1991 by L.L. No.
1-1991; 10-27-1997 by L.L. No. 1-1997; 3-18-1999 by L.L. No.
4-1999; 5-16-2002 by L.L. No. 1-2002; 4-20-2006 by L.L. No.
3-2006; 2-16-2023 by L.L. No. 3-2023]
Income Range
|
Percentage of Exemption
|
---|
Between $0 and $33,999
|
50%
|
Between $34,000 and $34,999
|
45%
|
Between $35,000 and $35,999
|
40%
|
Between $36,000 and $36,999
|
35%
|
Between $37,000 and $37,899
|
30%
|
Between $37,900 and $38,799
|
25%
|
Between $38,800 and $39,699
|
20%
|
Between $39,700 and $40,599
|
15%
|
Between $40,600 and $41,499
|
10%
|
Between $41,500 and $42,399
|
5%
|
$42,400 or more
|
No exemption
|
C. Title to the property must be vested in the owner or, if more than
one, in all owners for at least 12 consecutive months prior to the
date that the application is filed. However, in the event that any
person or persons have owned property, actually used and occupied
for residential use, for which an exemption was granted under § 467
of the Real Property Tax Law, such prior exemption shall qualify the
applicant under this subsection.
[Amended 4-18-1991 by L.L. No. 1-1991; 3-18-1999 by L.L. No.
4-1999]
D. The property must be used exclusively for residential purposes, be
occupied in whole or in part by the owners and constitute the legal
residence of the owners.
[Amended 2-15-1990 by Ord. No. 1-1990; 4-18-1991 by L.L. No.
1-1991]
Any person otherwise qualifying for a partial exemption from
taxation under § 467 of the Real Property Tax Law shall
not be denied the exemption under that section if he becomes 65 years
of age after the appropriate taxable status date and before December
31 of the same year.