N.Y. Real Property Tax Law § 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.