[Adopted 12-9-1968]
[Amended 11-8-1970; 9-17-2007 by L.L. No. 3-2007]
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 siblings (two or more individuals having at least one common parent),
one of whom is 65 years of age or over, shall be eligible for exemption
from taxation by the Village of Huntington Bay to the extent of 50%
of the assessed valuation thereof.
[Amended 12-11-1972; 1-13-1975; 8-8-1977; 9-17-2007 by L.L. No. 3-2007]
No exemption shall be granted:
A.
If the income of the owner or the combined income of the owners of
the property exceeds the sum of $27,000 for the calendar year immediately
preceding the date of an application for exemption. Where title is
vested in either a husband or wife, or two siblings, their combined
income may not exceed such sum. Such income shall include social security
payments, salary and wages (including bonuses), interest (including
nontaxable interest on state or local bonds), total dividends, net
earning from farming, rentals, business or profession (including amounts
claimed as depreciation for income tax purposes), income from estates
or trusts, gains from sales or exchanges, the total amount received
from governmental or private retirement or pension plans, annuity
payments (excluding amounts representing a return of capital), alimony,
unemployment insurance payments, disability payments and workers compensation.
B.
Unless the title of the property shall have been vested in the owner
or all of the owners of the property for at least 12 months prior
to the date of making application for exemption.
C.
Unless the property is used exclusively for residential purposes.
D.
Unless the 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.
E.
Unless, upon yearly application for exemption, the qualifying owner submits the requisite proof of qualification together with their annual tax return (or if such owner is not required to file a tax return, an affidavit in lieu thereof attesting to the amount of their annual income) as proof of qualification by March 1 of such year, as per Subsection A above.
Application for such exemption must be made by the owner or
all of the owners of the property on forms 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 shall be filed in such assessor's office at least 90 days
before the day for filing the final assessment roll.
Any conviction for having made any willfully 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.
