LL #04-198614)
LOCAL LAW NO. 4 of 1986
This Local Law amends the provisions of the following local laws providing
for partial tax exemptions of real property owned by certain persons with limited
income who are 65 years of age or older by implementing the provisions of Chapter
991 of the Laws of 1983 and Chapter 756 of the Laws of 1986.
A local law amending Local Law No. 1 of 1967, Local Law No. 5 of 1977,
Local Law No. 2 of 1980, Local Law No. 6 of 1980, Local Law No. 7 of 1982 and
Local Law No. 8 of 1983.
BE IT ENACTED by the Town Board of the Town of Wappinger, Dutchess County,
New York as follows:
SECTION I: Section 2 (b) of Local Law No 1 of 1967, Section 2 of Local Law
No. 5 of 1977, Local Law No. 2 of 1980, Local Law No. 6 of 1980 and Local Law
No. 7 of 1982 and Local Law No. 8 of 1983 are hereby amended to read as follows:
Section 2(b): The income of the owner or the combined income of the owners
of the property shall not and may not exceed the sum of Twelve Thousand and
Twenty -Five ($12,025.00) Dollars for the income tax year immediately preceding
the date of making the application for exemption. The income tax year shall mean
the twelve month period for which the owner or owners filed a federal personal
income tax return, or if no such return is filed, the preceding calendar year.
Where title is vested in either the husband or the wife, their combined income
may not exceed such income. Such income shall include social security and
retirement benefits, interest, dividends, net rental income, salary or earnings
and net income from self-employment, but shall not include a return of capital
gifts or inheritances. Rental income and self-employment shall not be reduced by
an allowance for depreciation.
SECTION II: Section 2(c) of Local Law No. 8 of 1983 is hereby amended to
read as follows:
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Section 2 (c): If the income of an eligible property owner or the combined income
of the owners of the property exceeds the sum of $12,025.00 for the income tax
year immediately preceding the date of making the application for tax exemption
and is not greater than $15,025.00, said owner shall be entitled to a partial
exemption as follows:
INCOME NET EXCEEDING:
EXEMPTION
$12,525.00
45%
$13,025.00
40%
$13,525.00
35%00
$14,025.00
30%
$14,525.00
25%
$15,025.00
20%
In administration of the foregoing, the provisions of Section 2 (b) shall
be applicable other than the provisions limiting income to $12,025.00.
SECTION III: This Local Law shall take effect immediately upon adoption
and filing.