2023 New York Laws › RPT - Real Property Tax › Article 4 - Exemptions › Title 2 - Private Property › 467-D - Assessment Exemption for Certain Living Quarters Constructed to Be Occupied by a Senior Citizen or Disabled Individual.

§  467-d. Assessment exemption for certain living quarters constructed
to be occupied by a senior citizen or disabled  individual.  1.  A  town
which is bordered by the Hudson river on the west and a different county
other than the one in which it is located on the north and is located in
a  county  which has a county tax commission with members who serve five
year overlapping terms and have powers and duties with respect  to  real
property  taxation,  acting through its local legislative body is hereby
authorized and empowered to adopt and amend local laws to provide for an
exemption from taxation and special ad valorem levies to the  extent  of
any  increase  in  assessed value of residential property resulting from
the construction or reconstruction of such property for the  purpose  of
providing  living quarters for a senior citizen, who is sixty-five years
of age or older, or individuals considered disabled and receiving social
security disability benefits. Such an exemption shall not exceed (a) the
increase in assessed value resulting from construction or reconstruction
of such property, or (b) twenty percent of the total assessed  value  of
such  property  as  improved,  or  (c) twenty percent of the median sale
price of residential property as reported in the most recent statistical
sales summary published by the office of real property services for  the
county in which the property is located, whichever is less.
2. No such exemption shall be granted unless:
(a)  the  zoning  ordinance  of  such  town  in which such property is
located  permits  the  construction  or  reconstruction  of  residential
property  for  the  purpose  of  providing  living  quarters  for senior
citizens or disabled individuals;
(b) the property is located within the geographical area in which such
construction or reconstruction is permitted; and
(c) the residential property is so constructed or  reconstructed  such
that it is the principal place of residence for the owner.
3.  Such  exemption  shall  be  applicable  only  to  construction  or
reconstruction which occurred subsequent to the effective date  of  this
section  and  shall only apply during taxable years in which such living
quarters are the legal residence  of  the  senior  citizen  or  disabled
person.
4.  Such  exemption from taxation shall be granted upon an application
which shall include a statement  that  a  qualified  senior  citizen  or
disabled  individual resides at the residence and shall be made annually
upon a form to be promulgated by the office of  real  property  services
and  filed  by  the  owner of such property to the assessor of such town
which has the power to assess property for taxation  on  or  before  the
appropriate  taxable  status  date  of  such  town.  If  the assessor is
satisfied that the property is qualified for an  exemption  pursuant  to
this  section,  then  such residential improvements shall be exempt from
taxation and special ad valorem levies as herein provided.
5. Any conviction of having made any willful false statements  in  the
application  for  such exemption shall result in the revocation thereof,
be punishable by a civil penalty of not more than  two  hundred  dollars
and shall disqualify the applicant or applicants from further exemptions
for a period of two years.