[Adopted 4-3-1989 by L.L. No. 7-1989 (Ch.
67 of the 1969 Code)]
It is the purpose of this article to grant partial
exemption from real property taxation for real property in the Village
of Penn Yan, New York, owned by certain persons with limited income
who are 65 years of age or over.
[Amended 1-16-2001 by L.L. No. 1-2001; 2-17-2009 by L.L. No.
1-2009; 2-16-2016 by L.L. No. 2-2016; 11-21-2023 by L.L. No. 18-2023]
In order to qualify by age for the senior citizen real property
tax assessment exemption established by § 467 of the Real
Property Tax Law (RPTL) of the State of New York, all of the owners
of the real property must be at least 65 years of age or older, or
in the case of real property owned by husband and wife or by siblings,
one of the owners must be at least 65 years of age, as of December
31 of the tax year for which such application for exemption is being
made, provided the application is submitted prior to taxable status
day, that being March 1 of the tax year for which the exemption application
is being made. This article shall apply to applications made for the
tax year 2024 and subsequent years. With respect to the tax year 2024,
the provisions hereof shall apply to any such application made prior
to the adoption of this article.
[Amended 3-19-1990 by L.L. No. 3-1990; 2-17-2009 by L.L. No.
1-2009; 2-16-2016 by L.L. No. 2-2016; 11-21-2023 by L.L. No. 18-2023]
A.
The income of the owner or the combined income of the owners for
the income tax year immediately preceding the date of making application
for exemption must fall within the following scale:
|
Annual Income
|
Percentage of Assessed Valuation Exemption From Taxation
| |
|---|---|---|
|
$0 to $20,000
|
50%
| |
|
$20,000.01 to $20,999.99
|
45%
| |
|
$21,000.00 to $21,999.99
|
40%
| |
|
$22,000.00 to $22,999.99
|
35%
| |
|
$23,000.00 to $23,899.99
|
30%
| |
|
$23,900.00 to $24,799.99
|
25%
| |
|
$24,800.00 to $25,699.99
|
20%
| |
|
$25,700.00 to $26,599.99
|
15%
| |
|
$26,600.00 to $27,499.99
|
10%
| |
|
$27,500.00 to $28,399.99
|
5%
| |
|
$28,400.00 or more
|
0%
|
B.
"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 wife, their combined income may not exceed
such sum. Such income shall include social security and retirement
benefits, interest, dividends, net rental income, salary or earnings
and net income from self-employment, but shall not include gifts or
inheritances.
