Notice of Public Hearing

NOTICE IS n HEREBY GIVEN THAT THE Schroon Town Board will hold a public hearing on February 12^th, 2024, beginning at 5:30 P.M at the Town Hall, 15 Leland Ave, Schroon Lake New York, concerning A Local Law Providing A Real Property Tax Exemption

TOWN OF SCHROON

LOCAL LAW NO. 1 OF 2024

A LOCAL LAW PROVIDING A REAL PROPERTY TAX EXEMPTION

FOR PERSONS SIXTY-FIVE (65) YEARS OF AGE OR OVER

BE IT ENACTED BY TOWN BOARD OF THE TOWN OF SCHROON AS FOLLOWS:

Section 1. Purpose and Authority. The purpose of this Local Law is to establish a partial exemption on real property taxation for eligible persons sixty-five (65) years of age or over and to establish the income limit for the exemption. It is adopted pursuant to Municipal Home Rule Law §10 and Real Property Tax Law §467.

Section 2. Exemption Granted. Real property owned by persons 65 years of age or over shall be exempt from Town taxes to the extent of 50% of the assessed valuation, subject to the following conditions:

1. The income of the owner, or the combined income of the owners, of the property for the applicable income tax year must not exceed Thirty-five Thousand Dollars ($35,000).
2. The real property must be the legal residence of the property owners.
3. Applications for the exemption must be filed annually. The applicable tax year for purposes of reporting income on the exemption application shall be the second most recent calendar year. For taxpayers whose income tax returns are filed on a basis of a fiscal year rather than a calendar year, the applicable tax year shall be the most recent fiscal year for which an income tax return has been filed.
4. All the requirements, provisions and conditions of Section 467 of the New York Real Property Tax Law and amendments thereto shall apply to the exemption, exemption eligibility and exemption applications provided for in this Local Law.

Section 3. Repeal, Adoption and Supersession. This Local Law supersedes any Town of Schroon Local Laws, Resolutions or Ordinances previously adopted regarding a real property tax exemption for persons aged 65 years or over pursuant to Section 467 of the New York Real Property Tax Law.

Section 4. Severability. If any part of this Local Law is declared invalid by a Court of competent jurisdiction, such declaration shall not affect or impair in any way any other provision and all other provisions shall remain in full force and effect.

Section 5. Effective Date. This Local Law shall take effect immediately upon filing by the Department of State as provided in the Municipal Home Rule Law.

PLEASE TAKE FURTHER NOTICE that at the time and place of the Public Hearing all interested persons will be given an opportunity to comment.

Erica Hedden

Town of Schroon

Town Clerk