This article is enacted pursuant to the provisions
of § 467 of the Real Property Tax Law, as the same may be
amended from time to time, and as therein provided to enable persons
65 years of age or over to have partial exemption from real property
taxation.
[Amended 12-6-1983 by L.L. No. 3-1983; 1-13-1987 by L.L. No.
2-1987; 11-13-1990 by L.L. No. 6-1990, 11-12-1991 by L.L. No. 6-1991; 10-11-2005 by L.L. No. 4-2005; 9-9-2014 by L.L. No.
2-2014]
Such exemption shall include the real property owned by one
or more persons, each of whom is 65 years of age and over, which,
once granted for a husband and wife, shall not be rescinded solely
because of the death of the older spouse as long as the surviving
spouse is at least 62 years of age, if the income of the owner or
the combined income of the owners of the property for the income tax
year immediately preceding the date of making application for said
exemption, as defined in §§ 467 and 467-d of the Real
Property Tax Law, does not exceed $21,601 or the sum of the maximum
income exemption eligibility level for the granting of partial exemption
from real property taxation plus $8,399. Twenty-one thousand six hundred
one dollars shall constitute the maximum income eligibility level
(M) for the purposes of this article. This exemption shall include
all increases in the maximum income exemption eligibility level calculated
in accordance with the following schedule. The percentage of exemption
will be based on a sliding scale as shown below:
Annual Income
|
Percentage of Assessed Valuation Exempt From Taxation
|
---|
$21,601 or less
|
50%
|
$21,602 to 22,600
|
45%
|
$22,601 to 23,600
|
40%
|
$23,601 to 24,600
|
35%
|
$24,601 to 25,500
|
30%
|
$25,501 to 26,400
|
25%
|
$26,401 to 27,300
|
20%
|
$27,301 to 28,200
|
15%
|
$28,201 to 29,100
|
10%
|
$29,101 to 30,000
|
5%
|
No exemption shall be granted:
A. If the income of the owner or the combined income
of the owners of the property for the income tax year immediately
preceding the date of making application for exemption exceeds the
sum of $3,000 or such other sum not less than $3,000 nor more than
$15,000. "Income tax year" shall mean the twelve-month period for
which the owner or owners filed a federal personal income tax return
or, if no such return is filed, the calendar year. Where title is
vested in either the husband or the wife, their combined income may
not exceed such sum. Such income shall include social security and
retirement benefits, interest, dividends, total gain from the sale
or exchange of a capital asset which may be offset by a loss from
the sale or exchange of a capital asset in the same income tax year,
net rental income, salary 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, wear
and tear of real or personal property held for the production of income.
[Amended 9-10-1979 by L.L. No. 2-1979; 10-14-1980 by L.L. No.
2-1980, 10-12-1982 by L.L. No. 5-1982; 12-6-1983 by L.L. No. 3-1983; 11-12-1991 by L.L. No. 6-1991]
B. Unless the title of the 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 then becomes vested solely in the survivor
by virtue of devise by or descent from the deceased husband or wife,
the time of ownership of the property by 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 purposes of computing
such period of 24 consecutive months, provided further that, in the
event of a transfer by either a husband or wife to the other spouse
of all or part of the title to the property, the time of ownership
of the property by the transferor spouse shall be deemed also a time
of ownership by the transferee spouse, and such ownership shall be
deemed continuous for the purposes of computing such period of 24
consecutive months, and provided further that where property of the
owner or owners has been acquired 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 purposes of this section. Where
a residence is sold and replaced with another within one year and
is in the same assessing unit or municipality, the period of ownership
of the former property shall be combined with the period of ownership
of the replacement residence and deemed consecutive for exemption
from taxation by each such assessing unit or municipality; provided,
however, that where the replacement property is in the same assessing
unit but in another school district, the periods of ownership of both
properties shall also be deemed consecutive for purposes of the exemption
from taxation by such school district. Notwithstanding any other provision
of law, where a residence is sold and replaced with another within
one year and both residences are within the state, the period of ownership
of both properties shall be deemed consecutive for purposes of the
exemption from taxation by a municipality within the state granting
such exemption.
C. Unless the property is used exclusively for residential
purposes.
D. Unless the real 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.
Application for such exemption must be made
by the owner or all of the owners of the property, on forms prescribed
by the State Board, 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 on or before the appropriate taxable status date.
At least 60 days prior to the appropriate taxable
status date, the assessing authority shall mail to each person who
was granted exemption pursuant to this article on the latest completed
assessment roll an application form and a notice that such application
must be filed on or before the taxable status date and be approved
in order for the exemption to be granted. Failure to mail any such
application form and notice or the failure of such person to receive
the same shall not prevent the levy, collection and enforcement of
the payment of the taxes on property owned by such person.
Any conviction of having made any willful 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.
The Assessor and the Village Clerk shall prepare
and have available forms for distribution to implement the provisions
of § 467 of the Real Property Tax Law and shall give the
notification required thereby to the area agency on aging or the state
office on aging, as the case may be.
[Added 6-27-2017 by L.L.
No. 7-2017]
Pursuant to the authority granted under Real Property Tax Law
§ 467, Subdivisions 8 and 8-a, a property owner's application
for exemption made under RPTL § 467 may be filed with the
Babylon Village Assessor after the taxable status date for the tax
year to which said application relates, provided that the property
owner files said application on or before the last day for paying
said taxes without incurring interest and/or penalty for said tax
year and complies with all other applicable requirements of RPTL § 467.