TB Hearing: Chapter 245, Partial Exemption for Senior Citizens

LEGAL NOTICE
NOTICE OF PUBLIC HEARING 

NOTICE IS HEREBY GIVEN, there has been presented to the Town Board of the Town of Southold, Suffolk County, New York, on the 4th day of October, 2022, a Local Law entitled “A Local Law in relation to Amendments to Chapter 245, entitled Partial Exemption for Senior Citizens and

NOTICE IS HEREBY FURTHER GIVEN that the Town Board of the Town of Southold will hold a public hearing on the aforesaid Local Law at Southold Town Hall, 53095 Main Road, Southold, New York, on the 15th day of November, 2022 at 4:32 p.m. ­­­at which time all interested persons will be given an opportunity to be heard.

The proposed Local Law entitled, “A Local Law in relation to Amendments to Chapter 245, entitled Partial Exemption for Senior Citizens Reads as follows:

LOCAL LAW NO.      2022

A Local Law entitled, “A Local Law in relation to Amendments to Chapter 245, entitled Partial Exemption for Senior Citizens”.

BE IT ENACTED by the Town Board of the Town of Southold as follows:

I. Purpose. It has been determined by the Town Board that there is a continuing need to increase the income limits for senior citizen exemptions considering the current pace of inflation.

This Amendment adjusts the tax exemption to meet the full extent of the amended New York

State Law.

II.        § 245-1 Partial exemption for senior citizens.

A.        Amount of exemption.
(1)   Real property 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 exempt from Town taxes to the extent provided, subject to the following income limitations:

Income Extent of Exemption
2007-2008 Limit
Up to $25,999 50%
$26,000 to $26,999 45%
$27,000 to $27,999 40%
$28,000 to $28,999 35%
$29,000 to $29,899 30%
$29,900 to $30,799 25%
$30,800 to $31,699 20%
$31,700 to $32,599 15%
$32,600 to $33,499 10%
$33,500 to $34,399 5%
2008-2009 Limit
Up to $26,999 50%
$27,000 to $27,999 45%
$28,000 to $28,999 40%
$29,000 to $29,999 35%
$30,000 to $30,899 30%
$30,900 to $31,799 25%
$31,800 to $32,699 20%
$32,700 to $33,599 15%
$33,600 to $34,499 10%
$34,500 to $35,399 5%
2009-2010 Limit
Up to $27,999 50%
$28,000 to $28,999 45%
$29,000 to $29,999 40%
$30,000 to $30,999 35%
$31,000 to $31,899 30%
$31,900 to $32,799 25%
$32,800 to $33,699 20%
$33,700 to $34,599 15%
$34,600 to $35,499 10%
$35,500 to $36,399 5%
2010-2011 Limit
Up to $28,999 50%
$29,000 to $29,999 45%
$30,000 to $30,999 40%
$31,000 to $31,999 35%
$32,000 to $32,899 30%
$32,900 to $33,799 25%
$33,800 to $34,699 20%
$34,700 to $35,599 15%
$35,600 to $36,499 10%
$36,500 to $37,399 5%
 Income Extent of Exemption
$0.00 to     $50,000 50%
$50,001 to $51,000 45%
$51,000 to $52,000 40%
$52,001 to $53,000 35%
$53,001 to $53,900 30%
$53.901 to $54,800 25%
$54,801 to $55,700 20%
$55,701 to $56,600 15%
$56,601 to $57,500 10%
$57,501 to $58,400 5%

(2)   Such exemption shall be computed after all other partial exemptions allowed by law have been subtracted from the total amount assessed.

Chapter 245- 2 Conditions
No exemption shall be granted:
A. If the income of the owner or the combined income of the owners of the property for the income tax year immediately preceding the date of making application for exemption exceeds the sum of $58,400 as provided by local law pursuant to this section. $34,399 effective July 1, 2006, $35,399 effective July 1, 2007, $36,399 effective July 1, 2008 and $37,399 effective July 1, 2009. “Income tax year” shall mean the twelve-month period for which the owner or owners filed a personal income tax return or, if no return is filed, the calendar year. Where the taxable status date is on or before April fourteenth, income tax year shall mean the twelve-month period for which the owner or owners filed a federal personal income tax return for the year before the income tax year immediately preceding the date of application and where the taxable status date is on or after April fifteenth, income tax year shall mean the twelve month period for which the owner or owners filed a federal personal income tax return for the income year immediately preceding the date of the application.  Where title is vested in either the husband or the wife, their combined income may not exceed such sum. Such income shall include social security and retirement benefits; interest; dividends; total gain from the sale or exchange of a capital asset, which may be offset by a loss from the sale or exchange of a capital asset in the same income tax year; net rental income; salary or earnings; and the net income from self-employment, but not including a return of capital, gifts or inheritances. In computing net rental income and net income from self-employment, no depreciation deduction shall be allowed for the exhaustion, wear and tear of real or personal property held for the production of income.

III.      SEVERABILITY
If any clause, sentence, paragraph, section, or part of this Local Law shall be adjudged by any court of competent jurisdiction to be invalid, the judgment shall not affect the validity of this law as a whole or any part thereof other than the part so decided to be unconstitutional or invalid.

IV. EFFECTIVE DATE
This Local Law shall apply to the assessment rolls prepared on the basic of taxable status dates occurring on or after January 1, 2023. This Local Law shall take effect immediately upon filing with the Secretary of State as provided by law.

Dated: October 4, 2022
BY THE ORDER OF THE SOUTHOLD TOWN BOARD
Denis Noncarrow, Southold Town Clerk

Published 10/12/22

Printable Notice:TB Hearing 15NOV22 Chapter 245 Senior Citizens

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