HomeMy WebLinkAboutLL 01 of 1999 Tax Exemption for SeniorsTOWN OF ITHACA
LOCAL LAW NO.1 OF THE YEAR 1999
A LOCAL LAW INCREASING THE PARTIAL TAX EXEMPTION FOR REAL
PROPERTY OWNED BY PERSONS WITH LIMITED INCOMES
WHO ARE 65 YEARS OF AGE OR OVER
Be it enacted by the Town Board of the Town of Ithaca as follows:
SECTION 1. The provisions of Local Law No. 1 of the year 1971 of the Town of Ithaca as
amended by Local Law No. 2 of the year 1977, Local Law No. 5 of the year 1980,Local Law
No. 2 of the year 1982,Local Law No. 4 of the year 1983, Local Law No. 2 of the year 1987,
Local Law No. 4 of the year 1990,Local Law No. 3 of the year 1991,Local Law No. 2 of the
year 1994,Local Law No. 2 of the year 1995, Local Law No. 1of the year 1996, and Local Law
No. 1 of the year 1997 are hereby further amended to read as follows:
1. This law is enacted pursuant to Section 467 of the Real Property Tax Law of the State
of New York as amended through Chapter 571 of the Laws of 1996.
2.Pursuant to the provisions of Section 467 of the Real Property Tax Law of the State
of New York, real property located in the Town of Ithaca, owned by one or more persons,each
of whom is 65 years of age or over,or real property owned by husband and wife,one of whom
is 65 years of age or over,shall be partially exempt from taxation by said Town for the
applicable taxes specified in said Section 467 based upon the income of the owner or combined
incomes of the owners.A person otherwise qualifying for such exemption shall not be denied
such exemption if such person becomes sixty-five (65) years of age after the appropriate taxable
status date and before December 31 of the same year. Such partial exemption shall be to the
extent set forth in the schedule following:
ANNUAL INCOME OF OWNER PERCENTAGE ASSESSED
OR COMBINED ANNUAL INCOME VALUATION EXEMPT
OF OWNERS FROM TAXATION
Up to and including $19,500.00 50%
More than $19,500.00
but less than $20,500.00 45%
$20,500.00 or more but
less than $21,500.00 40%
$21,500.00 or more but
less than $22,500.00 35%
$22,500.00 or more but
less than $23,400.00 30%
Taxexemp.99,wp51\ith\localtaw,February 1, 1999 11:18am
$23,400.00 or more but
less than $24,300.00 25%
$24,300.00 or more but
less than $25,200.00 20%
$25,200.00 or more but
less than $26,100.00 15%
$26,100.00 or more but
less than $27,000.00 10%
$27,000.00 or more but
less than $27,900.00 5%
This partial exemption provided by this law shall, however, be limited to such property and
persons as meet the conditions,qualification,exclusions and limitations set forth in Section 467
of the Real Property Tax Law of the State of New York. This local law shall be administered
in accordance with said section of the Real Property Tax Law as now adopted and as it may be
amended from time to time, and the provisions of said section shall be applicable to the
effectuation of the exemption provided for in this local law.
3.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 of Equalizationand Assessment of the State
of New York (or any successor agency)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.
4. Any conviction of having made any willful false statement of the application for such
exemptionshall be punishable by a fine of not more than One Hundred Dollars ($100.00) and
shall disqualify the applicant or applicants from further exemption for a period of five (5) years.
5.This local law shall become effective as set forth below and shall apply to assessment
rolls prepared on the basis of taxable status dates occurring on or after March 1, 1999.With
respect to assessment rolls prepared on the basis of taxable status dates prior to March 1, 1999,
the partial exemption allowed hereunder shall be limited to qualified properties,to those persons
otherwise qualified under, and to the amounts permitted by.Local Law No. 1 of the year 1971
and its amendments as in effect from time to time prior to the effective date of this local law.
SECTION 2.This local law shall take effect immediately.