HomeMy WebLinkAbout1997_5_7_Local_Law_No_4 LOCAL LAW NO. 4 - 1997
This Local Law shall amend Local Law 12-1993, Senior Citizen Tax Exemptions
Section 1 Purpose:
The purpose of this Local Law is to amend Section 74-7 of the Code of the Town
of Mamaroneck to conform with recent amendments to the enabling provisions of
Real Property Tax Law Section 467 as it relates to income level.
Section 2 Amendments:
Section 74-7 shall be amended to read as follows:
Real property owned by persons sixty-five (65) years of age or over shall be
exempt from Town taxes, except district taxes, to the extent of fifty per centum
(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 in which the real property is located.
Applications must be filed in the Assessor's Office on or before the taxable status
date of the Town Assessment Roll, which is June 1 of each calendar year.
B. In order to be eligible to apply for a partial exemption in the amount
of fifty per centum (50%) of the assessed valuation, the income of the owner or the
combined income of the owners must not exceed eighteen thousand five hundred
dollars ($18,500) from all sources as set forth in such Section 467 as amended for
the twelve (12) consecutive months prior to the date that the application is filed.
Where title is vested in either the husband or 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.
C. The owner or all the owners of real property located in the Town
who are sixty-five (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 by less than eight thousand four hundred dollars
($8,400) shall be eligible to apply for a partial exemption as set forth in the
following table:
Page 2
PERCENTAGE ASSESSED
VALUATION EXEMPT
ANNUAL INCOME FROM TAXATION
$ 0 to $18,500 50
$18,501 to $19,500 45
$19,501 to $20,500 40
$20,501 to $21,500 35
$21,501 to $22,400 30
$22,401 to $23,300 25
$23,301 to $24,200 20
$24,201 to $25,100 15
$25,101 to $26,000 10
$26,101 to $26,900 5
D. The real property tax exemption provided herein on real property
owned by husband and wife, one (1) of whom is sixty-five (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 sixty-two (62) years of age.
E. Title to the property must be vested in the owner or, if more than one
(1), in all the owners for at least twenty-four (24) consecutive months prior to the
date that the application is filed.
Section 3 Effective Date:
The Local Law shall take effect immediately.