[Adopted 8-3-1977; amended in its entirety 10-5-1983 (Ch. 74, Art.
II, of the 1975 Code)]
Pursuant to the provisions of § 467
of the Real Property Tax Law, as amended up to and including Chapter
991 of the Laws of 1983, the purpose of this article is to grant a
partial exemption from taxation to the extent specified hereinafter,
as to real property which is owned by certain persons with limited
income who are 65 years of age or over, meeting the requirements set
forth in such section, as amended.
[Amended 3-3-1993 by L.L. No. 3-1993; 12-15-1993 by L.L. No.
12-1993; 12-6-1995 by L.L. No. 13-1995; 4-16-1997 by L.L. No.
3-1997; 5-7-1997 by L.L. No. 4-1997]
Real property owned by persons 65 years of age
or over shall be exempt from Town taxes, except district taxes, to
the extent of 50% of the assessed valuation of such lesser per centum
of accessed valuation as hereinafter specified, subject to the following
conditions:
A.
The owner or all of the owners must file an application annually in the Assessor's office of the Town. For the purpose of this section, "real property" includes apartments in co-operative corporations and the tenant-stockholders thereof are eligible to apply for a partial tax exemption under § 195-6. Applications must be filed in the Assessor's office on or before the taxable status date of the Town assessment roll, which is May 1 of each calendar year. Notwithstanding the preceding sentence, the last date for filing such application in 2020 shall be June 16, 2020.
[Amended 11-19-2012 by L.L. No. 7-2012; 4-1-2020 by L.L. No. 5-2020; 2-1-2023 by L.L. No. 1-2023]
B.
In order to be eligible to apply for a partial exemption
in the amount of 50% of the assessed valuation, the income of the
owner or the combined income of the owners must not exceed $50,000
from all sources as set forth in such § 467, as amended,
for the 12 consecutive months prior to the date that the application
is filed. Where title is vested in either the husband or the wife,
the combined income may not exceed such sum. Any such income shall
be offset by all medical and prescription drug expenses actually paid
which were not reimbursed or paid for by insurance.
[Amended 5-2-2001 by L.L. No. 3-2001; 2-26-2003 by L.L. No.
4-2003; 5-18-2004 by L.L. No. 9-2004; 3-21-2007 by L.L. No.
3-2007; 2-1-2023 by L.L. No. 1-2023]
C.
The owner or all the owners of real property located in the Town who are 65 years of age or older and whose income or combined income from all sources for said twelve-month period exceeded the maximum amount set forth in Subsection B of this section by less than $8,400 shall be eligible to apply for a partial exemption as set forth in the following table:
[Amended 5-2-2001 by L.L. No. 3-2001; 2-26-2003 by L.L. No.
4-2003; 5-18-2004 by L.L. No. 9-2004; 3-21-2007 by L.L. No.
3-2007]
(1)
For the period expiring June 30, 2007:
|
Annual Income
|
Percentage of Assessed Value Exempt From
Taxation
| |
|---|---|---|
|
$0 to $26,000.00
|
50%
| |
|
$26,000.01 to $26,999.99
|
45%
| |
|
$27,000.00 to $27,999.99
|
40%
| |
|
$28,000.00 to $28,999.99
|
35%
| |
|
$29,000.00 to $29,899.99
|
30%
| |
|
$29,900.00 to $30,799.99
|
25%
| |
|
$30,800.00 to $31,699.99
|
20%
| |
|
$31,700.00 to $32,599.99
|
15%
| |
|
$32,600.00 to $33,499.99
|
10%
| |
|
$33,500.00 to $34,399.99
|
5%
|
(2)
For the period commencing July 1, 2007, and expiring
on June 30, 2008:
|
Annual Income
|
Percentage of Assessed Value Exempt From
Taxation
| |
|---|---|---|
|
$0 to $27,000.00
|
50%
| |
|
$27,000.01 to $27,999.99
|
45%
| |
|
$28,000.00 to $28,999.99
|
40%
| |
|
$29,000.00 to $29,999.99
|
35%
| |
|
$30,000.00 to $30,899.99
|
30%
| |
|
$30,900.00 to $31,799.99
|
25%
| |
|
$31,800.00 to $32,699.99
|
20%
| |
|
$32,700.00 to $33,599.99
|
15%
| |
|
$33,600.00 to $34,499.99
|
10%
| |
|
$34,500.00 to $35,399.99
|
5%
|
(3)
For the period commencing July 1, 2008, and expiring
on June 30, 2009:
|
Annual Income
|
Percentage of Assessed Value Exempt From
Taxation
| |
|---|---|---|
|
$0 to $28,000.00
|
50%
| |
|
$28,000.01 to $28,999.99
|
45%
| |
|
$29,000.00 to $29,999.99
|
40%
| |
|
$30,000.00 to $30,999.99
|
35%
| |
|
$31,000.00 to $31,899.99
|
30%
| |
|
$31,900.00 to $32,799.99
|
25%
| |
|
$32,800.00 to $33,699.99
|
20%
| |
|
$33,700.00 to $34,599.99
|
15%
| |
|
$34,600.00 to $35,499.99
|
10%
| |
|
$35,500.00 to $36,399.99
|
5%
|
(4)
For the period commencing July 1, 2009:
|
Annual Income
|
Percentage of Assessed Value Exempt From
Taxation
| |
|---|---|---|
|
$0 to $29,000.00
|
50%
| |
|
$29,000.01 to $29,999.99
|
45%
| |
|
$30,000.00 to $30,999.99
|
40%
| |
|
$31,000.00 to $31,999.99
|
35%
| |
|
$32,000.00 to $32,899.99
|
30%
| |
|
$32,900.00 to $33,799.99
|
25%
| |
|
$33,800.00 to $34,699.99
|
20%
| |
|
$34,700.00 to $35,599.99
|
15%
| |
|
$35,600.00 to $36,499.99
|
10%
| |
|
$36,500.00 to $37,399.99
|
5%
|
(5)
For
the period commencing June 1, 2023:
[Added 2-1-2023 by L.L. No. 1-2023]
|
Annual Income
|
Percentage of Assessed Value Exempt from Taxation
|
|---|---|
|
$0 to $50,000
|
50%
|
|
$50,000.01 to $50,999.99
|
45%
|
|
$51,000 to $51,999.99
|
40%
|
|
$52,000 to $52,999.99
|
35%
|
|
$53,000 to $53,899.99
|
30%
|
|
$53,900 to $54,799.99
|
25%
|
|
$54,800 to $55,699.99
|
20%
|
|
$55,700 to $56,599.99
|
15%
|
|
$56,600 to $57,499.99
|
10%
|
|
$57,500 to $58,399.99
|
5%
|
D.
The real property tax exemption provided herein on
real property owned by husband and wife, one of whom is 65 years of
age or older, once granted, shall not be rescinded solely because
of the death of the older spouse, so long as the surviving spouse
is at least 62 years of age.
E.
Title to the property must be vested in the owner
or, if more than one, in all the owners for at least 24 consecutive
months prior to the date that the application is filed.[1]
[1]
Editor's Note: Former Subsection F, regarding eligibility
to apply for a county tax exemption, added 2-10-1999 by L.L. No. 2-1999, as amended, which immediately followed this subsection, was repealed 2-1-2023 by L.L. No. 1-2023.
