Local Law #15 of 2022
(Full Legislature Mtg. 12/06/2022)

RESOLUTION #239

APPROVAL/ LOCAL LAW TO AMEND ARTICLE V OF CHAPTER 220 OF THE CODE OF PUTNAM COUNTY BY INCREASING THE INCOME THRESHOLD OF THE SENIOR CITIZEN PROPERTY TAX EXEMPTION

Be it enacted by the Legislature of the County of Putnam as follows:

Section 1.

§ 220-29 Exemption granted.

Pursuant to the provisions of the Real Property Tax Law, the real property owned by one or more persons, each of whom is 65 years of age or over, or real property owned by a husband and wife, one of whom is 65 years of age or over, shall be exempt from taxation up to a maximum of 50% of the assessed valuation thereof, as hereinafter provided.

§ 220-30 Schedule of exemptions.

A.  All the provisions, conditions and requirements of § 467 of the Real Property Tax Law and amendments thereto shall apply to the application for and the granting of such exemption on the assessment rolls of the towns as they apply to the County of Putnam except that no exemption shall be granted 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 is: for the year 2023, the sum of $48,400 or more; for the year 2024, the sum of $53,400 or more; for the year 2025, the sum of $58,400 or more.

B.  Real property owned by persons 65 years of age or over shall be exempt from certain County taxes up to a maximum of 50%.

(1)  For the year 2023:

Annual Income    Percentage of Assessed Value Exempt From Taxation
$40,000 and less    50%
More than $40,000 but less than $41,000    45%
More than $41,000 but less than $42,000    40%
More than $42,000 but less than $43,000    35%
More than $43,000 but less than $43,900    30%
More than $43,900 but less than $44,800    25%
More than $44,800 but less than $45,700    20%
More than $45,700 but less than $46,600    15%
More than $46,600 but less than $47,500    10%
More than $47,500 but less than $48,400    5%

(2)  For the year 2024:

Annual Income    Percentage of Assessed Value Exempt From Taxation
$45,000 and less    50%
More than $45,000 but less than $46,000    45%
More than $46,000 but less than $47,000    40%
More than $47,000 but less than $48,000    35%
More than $48,000 but less than $48,900    30%
More than $48,900 but less than $49,800    25%
More than $49,800 but less than $50,700    20%
More than $50,700 but less than $51,600    15%
More than $51,600 but less than $52,500    10%
More than $52,500 but less than $53,400    5%

(3)  For the year 2025:

Annual Income    Percentage of Assessed Value Exempt From Taxation
$50,000 and less    50%
More than $50,000 but less than $51,000    45%
More than $51,000 but less than $52,000    40%
More than $52,000 but less than $53,000    35%
More than $53,000 but less than $53,900    30%
More than $53,900 but less than $54,800    25%
More than $54,800 but less than $55,700    20%
More than $55,700 but less than $56,600    15%
More than $56,600 but less than $57,500    10%
More than $57,500 but less than $58,400    5%
    
§ 220-31 Qualified period of ownership.

The income of the owner or the combined income of the owners of the property for income tax year immediately preceding the date of the application for exemption from all sources, as set forth in § 467 must be less than $48,400 for the year 2023; $53,400 for the year 2024; and $58,400 for the year 2025. “Income tax year” shall mean the twelve-month period from which the owner or owners file a federal personal income tax return or, if no such return is filed, in the calendar year. When title is vested in either the husband or wife, the combined income of both may not exceed such sum.

§ 220-32 Applicability.

This article shall apply to the assessment roll as follows: for § 220-30B(1) commencing for the year 2023 and for the taxable year 2023/2024; for § 220-30B(2) commencing for the year 2024 and for the taxable year 2024/2025; and for § 220-30B(3) commencing for the year 2025 and for the taxable year 2025/2026.

§ 220-33 Penalties for offenses.

Any person or persons who willfully make a false statement in the application of this exemption shall be punishable by a fine of not more than $100 and shall disqualify the applicant or applicants from further exemption for a period of five years.

§ 220-34 When effective.

This article shall take effect immediately.

Section 2.
This local law shall take effect immediately upon its filing with the NYS Secretary of State.