[Adopted 10-19-1992 by L.L. No. 4-1992]
[Amended 7-19-2004 by L.L. No. 5-2004; 12-17-2007 by L.L. No. 11-2007]
The following provisions shall apply to assessment rolls prepared
on the basis of taxable status dates occurring on or after January
1, 2008.
[Amended 1-26-2004 by L.L. No. 1-2004; 7-19-2004 by L.L. No. 5-2004; 12-17-2007 by L.L. No. 11-2007]
A.
Real property in the Incorporated Village of East Hills owned by
one or more persons, each who is 65 years of age or over, or real
property owned by husband or wife, one of whom is 65 years of age
or over, shall be exempt from taxation by the Village to the extent
of the following percentage of the assessed valuation:
|
Annual Income
|
Percent Exemption
| |
|---|---|---|
|
Less than $27,000
|
50%
| |
|
At least $27,000 but less than $28,000
|
45%
| |
|
At least $28,000 but less than $29,000
|
40%
| |
|
At least $29,000 but less than $30,000
|
35%
| |
|
At least $30,000 but less than $30,900
|
30%
| |
|
At least $30,900 but less than $31,800
|
25%
| |
|
At least $31,800 but less than $32,700
|
20%
| |
|
At least $32,700 but less than $33,600
|
15%
| |
|
At least $33,600 but less than $34,500
|
10%
| |
|
At least $34,500 but less than $35,400
|
5%
|
B.
For the tax year 2009/2010, the annual income required for eligibility
for the fifty-percent exemption level will be $28,000, with a commensurate
increase in the income eligibility for all lesser exemption amounts.
Beginning with the tax year 2010/2011, the annual income required
for eligibility for the fifty-percent exemption level will be $29,000
with a commensurate increase in the income eligibility for all lesser
exemption amounts.
C.
The level of income required to qualify for this exemption may be
amended by resolution by the Board of Trustees.
No exemption shall be granted:
A.
Unless an annual application is made therefor, as hereinafter set
forth.
B.
If the income of the owner or combined income of the owners of the
property exceeds the sum of $35,400 for the income tax year immediately
preceding the date of making application for exemption. The term "income
tax year" shall mean the twelve-month period in which the owner or
owners file a federal personal income tax return or, if a return was
not filed, the calendar year. Where title is vested in either the
husband or the wife, their combined income may not exceed such sum.
The income shall include social security and retirement benefits,
interest, dividends, total gains from the sale or exchange of a capital
asset in the same income tax year, net rental income, salary or earnings
and net income from self-employment, but shall not include a return
of capital gifts or inheritances. In computing net rental income and
net income from self-employment, no depreciation deduction shall be
allowed for the exhaustion and wear and tear of real property held
for the production of income.
[Amended 1-21-1997 by L.L. No. 3-1997; 1-26-2004 by L.L. No. 1-2004; 7-19-2004 by L.L. No. 5-2004; 12-17-2007 by L.L. No. 11-2007]
C.
Unless title to the subject property shall have been vested in the
owner or one of the owners of the property for at least 24 consecutive
months prior to the date of making application for exemption; provided,
however, that in the event of the death of either a husband or wife
in whose name title of the property shall have been vested at the
time of death and which then becomes vested solely in the survivor
by virtue of devise or by descent from the deceased husband or wife,
the time of ownership of the property of the deceased husband or wife
shall be deemed also a time of ownership by the survivor, and such
ownership shall be deemed continuous for the purpose of computing
such period of 24 consecutive months; and further provided that where
property of the owner or owners has been required to replace property
formerly owned by such owner or owners and taken by eminent domain
or other involuntary proceeding, except a tax sale, the period of
ownership of the former property shall be combined with the period
of ownership of the property for which application is made for exemption,
and such periods of ownership shall be deemed to be consecutive for
the purposes of this article.
D.
Unless the property is used exclusively for residential purposes.
E.
Unless the real property is occupied as the legal residence of all
of the owners. This residency requirement of one or more of the owner(s)
may be waived solely if:
[Amended 1-26-2004 by L.L. No. 1-2004]
(1)
An owner is absent due to divorce, legal separation, or abandonment;
or
(2)
One or more owners are absent from the property while receiving health-related
services as an inpatient of a residential health-care facility, provided
that during such confinement no one other than the spouse or co-owner
of the confined owner occupies the property.
[Amended 1-21-1997 by L.L. No. 3-1997]
A verified application for the annual exemption shall be made
by the owner or all of the owners of the subject property on forms
prescribed by the State Board of Equalization and Assessment, to be
furnished by the Village Clerk. In order to qualify for the exemption
under this article, the applicant or applicants must meet each and
every qualification set forth under the laws of the State of New York
and this article.
