[Adopted 9-20-1983 by L.L. No. 1-1983[2] ]
[1]
Editor's Note: Local Law No. 1-1990, adopted3-6-1990, provided that "A person who is otherwise qualified for thesenior citizens real property tax exemption shall not be denied theexemption if he or she becomes 65 after the taxable status date ofMay 1 but before December 31 of the same year."
[2]
Editor's Note: This local law also repealedformer Art. I, Senior Citizens Tax Exemption, adopted 10-18-1966 byL.L. No. 3-1966, as amended.
§195-1 Grant of exemption.
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§195-2 Conditions of exemption.
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§195-3 When effective.
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This article implements §§467and 467-d of the Real Property Tax Law[1] by granting, pursuant to the conditions and limitationsset forth in said sections, a partial exemption from real propertytaxation of property owned by certain persons 65 years of age or over.
[1]
Editor's Note: Section 467-d of the Real PropertyTax Law was repealed by L. 1985, c. 440, §3, effectiveJanuary 2, 1986.
[Amended 9-3-1986 by L.L. No. 6-1986; 11-28-1989 by L.L. No.7-1989; 8-14-1990 by L.L. No. 6-1990; 9-17-1991 by L.L. No. 5-1991; 10-6-1992 by L.L. No. 9-1992; 8-16-1994 by L.L. No. 5-1994; 8-29-1995 by L.L. No.16-1995; 2-27-1996 by L.L. No. 1-1996; 11-12-1996 by L.L. No. 17-1996; 12-17-1996 by L.L. No. 2-1996]
A.
Real property owned by one or more persons, each ofwhom is 65 years of age or over, or real property owned by husbandand wife, one of whom is 65 years of age or over, shall be exemptfrom taxation by the Town of Babylon to the extent of 50% of the assessedvalue of the property, if the income of the owner or the combinedincome of the owners of the property for the income tax year immediatelypreceding the date of the making of the application is not more than$50,000 and the owner or owners satisfy all the provisions of RealProperty Tax Law §467.
[Amended 12-8-1998 by L.L. No. 4-1998; 9-19-2000 by L.L. No.23-2000; 11-19-2002 by L.L. No. 32-2002; 10-21-2003 by L.L. No.28-2003; 7-17-2012 by L.L. No. 9-2012; 9-21-2022 by L.L. No. 17-2022]
B.
Real property owned by one or more persons, each ofwhom is 65 years of age or over, or real property owned by husbandand wife, one of whom is 65 years of age or over, shall be exemptfrom taxation by the Town of Babylon to the extent set forth belowif the income of the owner or the combined income of the owners ofthe property for the income tax year immediately preceding the dateof the making of the application is not more than $8,400 more thanthe maximum income eligibility level exemption and the owner or ownerssatisfy all the provisions of Real Property Tax Law §467,Subdivision 3(b). For the purpose of this article, "maximum incomeeligibility level exemption (M)" shall be defined as the maximum amountof income as set forth in §467, Subdivision 3, of the NewYork State Real Property Tax Law, as amended from time to time, butnot less than $50,000.
[Amended 12-8-1998 by L.L. No. 4-1998; 9-19-2000 by L.L. No.23-2000; 11-19-2002 by L.L. No. 32-2002; 10-21-2003 by L.L. No.28-2003; 7-17-2012 by L.L. No. 9-2012; 9-21-2022 by L.L. No. 17-2022]
C.
Cooperative apartment associations.
(1)
For the purposes of this section, title to that portionof real property owned by a cooperative apartment corporation in whicha tenant-stockholder of such corporation resides and which is representedby his share or shares of stock in such corporation as determinedby its or their proportional relationship to the total outstandingstock of the corporation, including that owned by the corporation,shall be deemed to be vested in such tenant-stockholder.
(2)
That proportion of the assessment of such real propertyowned by such cooperative apartment corporation determined by therelationship of such real property vested in such tenant-stockholderto such entire parcel and the buildings thereon owned by such cooperativeapartment corporation in which such tenant-stockholder resides shallbe subject to exemption from taxation pursuant to this section andany exemption so granted shall be credited against the assessed valuationof such real property; the reduction in real property taxes realizedthereby shall be credited by the cooperative apartment corporationagainst the amount of such taxes otherwise payable by or chargeableto such tenant-stockholder.
(3)
This subsection shall apply to those individual shareholderswho are 65 years of age or over or if such share(s) of stock in saidcooperative apartment corporation are owned by more than one personand each such person is 65 years of age or such share(s) of stockin a cooperative apartment corporation are owned by husband and wife,one of whom is 65 years of age or over.
D.
Excluded in the calculation of income shall be allmedical and prescription drug expenses actually paid which were notreimbursed or paid for by insurance and veterans disability compensationas defined in Title 38 of the United States Code.
[Amended 10-7-1997 by L.L. No. 16-1997]
E.
Table of Income and Percentages.
Table of Income and Percentages | |
|---|---|
Annual Income | Percentage of Assessed Valuation ExemptFrom Taxation |
More than (M) but less than (M + $1,000) | 45% |
M+ $1,000 or more but less than (M+ $2,000) | 40% |
M+ $2,000 or more but less than (M+ $3,000) | 35% |
M+ $3,000 or more but less than (M+ $3,900) | 30% |
M+ $3,900 or more but less than (M+ $4,800) | 25% |
M+ $4,800 or more but less than (M+ $5,700) | 20% |
M+ $5,700 or more but less than (M+ $6,600) | 15% |
M+ $6,600 or more but less than (M+ $7,500) | 10% |
M+ $7,500 or more but less than (M+ $8,400) | 5% |
F.
Extension for senior citizens granted a STAR exemption.Notwithstanding any contrary provision of this chapter, or any general,special or local law, code or charter, the Town of Babylon authorizesan extension of no more than five business days for the payment oftaxes without interest or penalty to the Town of Babylon to certainpersons 65 years of age or over, who have received an exemption pursuantto Subdivision Four of § 425 or 467 of the New York State RealProperty Tax Law related to a principal residence located within theTown of Babylon. If such an extension is granted, and any taxes arenot paid by the final date so provided, those taxes shall be subjectto the same interest and penalties that would have applied if no extensionhad been granted.
[Added 12-20-2006 by Res. No. 6]
[Amended 9-3-1986 by L.L. No. 6-1986; 11-28-1989 by L.L. No.7-1989; 8-14-1990 by L.L. No. 6-1990; 8-16-1994 by L.L. No. 5-1994; 8-29-1995 by L.L. No. 16-1995; 12-8-1998 by L.L. No. 4-1998]
This article shall take effect immediately andshall apply to assessment rolls prepared on the basis of taxable statusdates occurring on or after January 1, 1999.
