§ 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\nto be occupied by a senior citizen or disabled individual. 1. A town\nwhich is bordered by the Hudson river on the west and a different county\nother than the one in which it is located on the north and is located in\na county which has a county tax commission with members who serve five\nyear overlapping terms and have powers and duties with respect to real\nproperty taxation, acting through its local legislative body is hereby\nauthorized and empowered to adopt and amend local laws to provide for an\nexemption from taxation and special ad valorem levies to the extent of\nany increase in assessed value of residential property resulting from\nthe construction or reconstruction of such property for the purpose of\nproviding living quarters for a senior citizen, who is sixty-five years\nof age or older, or individuals considered disabled and receiving social\nsecurity disability benefits. Such an exemption shall not exceed (a) the\nincrease in assessed value resulting from construction or reconstruction\nof such property, or (b) twenty percent of the total assessed value of\nsuch property as improved, or (c) twenty percent of the median sale\nprice of residential property as reported in the most recent statistical\nsales summary published by the office of real property services for the\ncounty in which the property is located, whichever is less.\n 2. No such exemption shall be granted unless:\n (a) the zoning ordinance of such town in which such property is\nlocated permits the construction or reconstruction of residential\nproperty for the purpose of providing living quarters for senior\ncitizens or disabled individuals;\n (b) the property is located within the geographical area in which such\nconstruction or reconstruction is permitted; and\n (c) the residential property is so constructed or reconstructed such\nthat it is the principal place of residence for the owner.\n 3. Such exemption shall be applicable only to construction or\nreconstruction which occurred subsequent to the effective date of this\nsection and shall only apply during taxable years in which such living\nquarters are the legal residence of the senior citizen or disabled\nperson.\n 4. Such exemption from taxation shall be granted upon an application\nwhich shall include a statement that a qualified senior citizen or\ndisabled individual resides at the residence and shall be made annually\nupon a form to be promulgated by the office of real property services\nand filed by the owner of such property to the assessor of such town\nwhich has the power to assess property for taxation on or before the\nappropriate taxable status date of such town. If the assessor is\nsatisfied that the property is qualified for an exemption pursuant to\nthis section, then such residential improvements shall be exempt from\ntaxation and special ad valorem levies as herein provided.\n 5. Any conviction of having made any willful false statements in the\napplication for such exemption shall result in the revocation thereof,\nbe punishable by a civil penalty of not more than two hundred dollars\nand shall disqualify the applicant or applicants from further exemptions\nfor a period of two years.\n