[Adopted 12-5-2000 by L.L. No. 32-2000 (Ch. 458, Art. XII,
of the 1985 Code)]
A.
There shall be exempt from taxation, to the extent provided in this
article, eligible residential real property constructed or reconstructed
for the purpose of providing living quarters for a parent or grandparent
who is 62 years of age or older.
B.
For the purposes of this article, the term "parent or grandparent"
shall be deemed to include the natural or adopted parents and grandparents
of the owner or the spouse of the owner of such property.
A.
Such exemption from taxation shall be:
(1)
Applicable only to construction or reconstruction which occurred
subsequent to the effective date of this article; and
(2)
Granted upon an application made annually by the owner, or all of
the owners, of such property, on forms prescribed by the New York
State Board of Real Property Tax Services, which shall be filed with
the appropriate assessing authorities on or before the applicable
taxable status dates. If such assessor or assessors are satisfied
that the property is entitled to an exemption pursuant to this article,
such application shall be approved and such residential improvements
shall then be exempt from taxation and special ad valorem levies as
provided in this article.
B.
Such exemption shall not exceed:
(1)
The increase in assessed value resulting from the construction or
reconstruction of such property;
(2)
Twenty percent of the total assessed value of such property as improved;
or
(3)
Twenty percent of the median sale price of residential real property
as reported in the most recent sales statistical summary published
by the New York State Board of Real Property Tax Services for Suffolk
County, whichever is less.
C.
No such exemption shall be granted unless:
(1)
The residential real property so constructed or reconstructed is
the principal place of residence of the owner; and
(2)
At least one parent or grandparent who is 62 years of age or older
maintains a primary place of residence in such constructed or reconstructed
living quarters during the taxable year.
Any conviction of having made any willful false statement in
the application for the exemption granted by this article shall result
in the revocation thereof, be punishable by a civil penalty of not
more than $100 and shall disqualify the applicant or applicants from
further exemption for a period of five years.
