[Adopted 2-11-2002 by L.L. No. 5-2002 (Ch. 458, Art. XIII,
of the 1985 Code)]
A.
This Legislature hereby finds and determines that home ownership
by persons of moderate income is an essential element of the County's
economy and the development, stabilization and preservation of neighborhoods
and communities.
B.
This Legislature also finds that many individuals are unable to attain
home ownership without some leveraging of their resources.
C.
Therefore, the purpose of this article is to opt into the state program
to provide a partial real property tax exemption for first-time homeowners
based on income and a six-year declining schedule in order to create
a positive climate for economic growth and attracting future homeowners
by providing a tax exemption for first-time homeowners.
As used in this article, the following terms shall have the
meanings indicated:
A person who has not owned a primary residential property
and is not married to a person who has owned a residential property
during the three-year period prior to his or her purchase of the primary
residential property and who does not own a vacation or investment
home.
The total combined income of all the owners, and of any owners'
spouses residing on the premises, for the income tax year preceding
the date of making application for the exemption.
The adjusted gross income for federal income tax purposes
as reported on the applicant's latest available federal or state income
tax return subject to any subsequent amendments or revisions, reduced
by distributions, to the extent included in federal adjusted gross
income, received from an individual retirement account, and an individual
retirement annuity, provided that if no such return was filed within
the one-year period preceding taxable status date, "income" shall
mean the adjusted gross income that would have been so reported if
such a return had been filed. For purposes of this definition, "latest
available return" shall mean the federal or state income tax return
for the year immediately preceding the date of making application;
provided, however, that if the tax return for such tax year has not
been filed, then the income tax return for the tax year two years
preceding the date of making application shall be considered the latest
available.
An improvement to real property which was constructed as
a primary residential property, and which has never been occupied
and was constructed after the effective date of this article. "Newly
constructed" shall also mean that portion of a primary residential
property that is altered, improved, or reconstructed.
Any one- or two-family house, townhouse, or condominium located
in this state which is owner-occupied by such homebuyer.
The County of Suffolk hereby elects to grant the tax exemption
authorized under § 457 of the New York Real Property Tax
Law.
A.
Newly constructed primary residential property located within the
County of Suffolk and purchased by one or more persons, each of whom
is a first-time homebuyer and has not been married to a homeowner
in the three years prior to applying for this first-time homeowners
exemption, shall be exempt from taxation levied by or on behalf of
the County of Suffolk, for a period of five years.
B.
Such exemption shall be computed in accordance with the following
table:
|
Year of Exemption
|
Percentage of Assessed Valuation Exempt From Tax
| |
|---|---|---|
|
1
|
50%
| |
|
2
|
40%
| |
|
3
|
30%
| |
|
4
|
20%
| |
|
5
|
10%
| |
|
6 or more
|
0%
|
[Amended 2-24-2004 by L.L. No. 3-2004]
A.
Any newly constructed primary residential real property within the purchase price limits defined by the State of New York Mortgage Agency (SONYMAE) low-interest-rate mortgage program in the nontarget, "one-family, new" category for Suffolk County, and in effect on the contract date for the purchase and sale of such property, shall be eligible for the exemption allowed pursuant to § 775-33 of this article.
B.
A first-time homebuyer who either as part of a written contract for sale of the primary residential property or who enters into a written contract within 90 days after closing on the sale of the primary residence for reconstruction, alteration or improvements to the primary residential property, the value of which exceeds $3,000, shall be exempt from taxation to the extent provided by this article. Such exemption shall apply solely to the increase in assessed value thereof attributable to such reconstruction, alteration, or improvement, provided that the assessed value after reconstruction, alteration, or improvements does not exceed 15% more than the purchase price limits as defined in Subsection A of this section. For purposes of this subsection, the terms "reconstruction," "alteration" and "improvement" shall not include ordinary maintenance and repairs.
C.
A first-time homebuyer shall not qualify for the exemption authorized
pursuant to this article if the household income exceeds income limits
defined by the SONYMAE low-interest-rate mortgage program in the nontarget,
one- and two-person-household category for Suffolk County in effect
on the contract date for the purchase and sale of such property.
A.
Newly constructed primary residential property purchased by first-time
homebuyers at a sales price greater than the maximum eligible sales
price shall qualify for the exemption allowed pursuant to this article
for that portion of the sales price of such newly constructed primary
residential property equal to the maximum eligible sales price; provided,
however, that any newly constructed primary residential property purchased
at a sales price greater than 25% above the maximum eligible sales
price shall not be allowed any exemption.
B.
No exemption shall be allowed pursuant to this article for any newly constructed primary residential property purchased by a first-time homebuyer on or after December 31, 2022, unless such purchase is pursuant to a binding written contract entered into prior to December 31, 2022; provided, however, that any first-time homebuyer who is allowed an exemption pursuant to this article prior to such date shall continue to be allowed further exemptions pursuant to § 775-33 of this article.
[Amended 6-13-2006 by L.L. No. 32-2006; 6-21-2011 by L.L. No.
28-2011; 6-6-2023 by L.L. No. 25-2023]
C.
No exemption shall be allowed pursuant to this article for any newly constructed primary residential property purchased by a first-time homebuyer on or after December 31, 2028, unless such purchase is pursuant to a binding written contract entered into prior to December 31, 2028; provided, however, that any first-time homebuyer who is allowed an exemption pursuant to this article prior to such date shall continue to be allowed further exemptions pursuant to § 775-33 of this article.
[Added 6-6-2023 by L.L. No. 25-2023]
A.
No portion of a single-family newly constructed primary residential
property shall be leased during the period of time when the first-time
homeowner exemption shall apply to the residence. If any portion of
the single-family newly constructed primary residential property is
found to be the subject of a lease agreement, the Assessor shall discontinue
any exemption granted pursuant to this article.
B.
In the event that a primary residential property granted an exemption
pursuant to this article ceases to be used primarily for residential
purposes or title thereto is transferred to other than the heirs or
distributees of the owner, the exemption granted pursuant to this
article shall be discontinued.
C.
Upon determining that an exemption granted pursuant to this article
should be discontinued, the Assessor shall mail a notice so stating
to the owner or owners thereof at the time and in the manner provided
by § 510 of the New York Real Property Tax Law. Such owner
or owners shall be entitled to seek administrative and judicial review
of such action in the manner provided by law, provided that the burden
shall be on such owner or owners to establish eligibility for the
exemption.
A.
Such exemption shall be granted only upon application by the owner
of such building on a form prescribed by the State Board of Real Property
Tax Services. The application shall be filed with the Assessor of
the pertinent town having the power to assess property for taxation
on or before the appropriate taxable status date of Suffolk County.
B.
If satisfied that the applicant is entitled to an exemption pursuant to this article, the Assessor shall approve the application, and such primary residential property shall thereafter be exempt from taxation and special ad valorem levies as provided in this article commencing with the assessment roll prepared on the basis of the taxable status date referred to in Subsection A of this section. The assessed value of any exemption granted pursuant to this article shall be entered by the Assessor on the assessment roll with the taxable property, with the amount of the exemption shown in a separate column.
The Clerk of the Suffolk County Legislature is hereby directed
to file a copy of this article with the State Board of Real Property
Tax Services and the 10 Town Assessors who prepare the assessment
roll on which the taxes of this County are levied.
This article shall take effect immediately upon filing in the
office of the Secretary of State and shall apply to taxable years
beginning on or after January 1, 2002.
