Variations in Receipt of Benefit
No Variation in Receipt of Benefits
Local governments and school districts have the option of providing an exemption of taxable value of residential property to senior citizens. For the 50% exemption, the law allows each county, city, town, village, or school district to set the maximum income limit at any figure between $3,000 and $29,000. Localities have the further option of giving exemptions of less than 50% to seniors whose incomes are more than $29,000. Under this option, called the sliding-scale option, such owner can have a yearly income less than $37,399.99 and get a 5% exemption in places that are using the maximum limit.
How is Benefit Disbursed
Exemption from assessed value
Eligible Property Type
Characteristics of Eligible Property
Only residential property is eligible for this program.
Description of Eligibility Criteria
The applicant or a husband, wife or sibling must be at least 65 years of age or over and have an income below the amount set by the applicant's locality. This amount can range from $3,000 to $29,000 of annual income reported on the basis of the preceding income tax year. In addition, applicants must own the property for a minimum of 12 consecutive months prior to application for exemption. Surviving spouses are eligible so long as they are 62 years of age or older.
Local Option in Adoption of Program
Local government must take action to opt in
Local Option Regarding Program Features
Local option regarding program features
State Funding for Local Tax Loss
Local government covers all of its tax loss
Description of State Funding for Tax Loss
State statutes does not provide for state funding for local tax loss.
[https://www.tax.ny.gov/pit/property/exemption/seniorexempt.htm accessed 07/17/18]
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New York Department of Taxation and Finance - Office of Real Property Tax Services, Senior Citizens' Exemption Question And Answers - Partial Exemption from Property Taxes in New York State, (2017)
[https://www.tax.ny.gov/pdf/publications/orpts/senior.pdf accessed 07/17/2018]
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