T A B L E O F C O N T E N T S P RT I A ... - Broome County

§ 185-31 BROOME COUNTY CHARTER AND CODE
§ 185-32
combined income must be less than the maximum set forth in the following schedule for
each percentage class. Such income shall include social security and retirement benefits,
interest, dividends, total gain from the sale or exchange of a capital asset which may be
offset by a loss from the sale or exchange of a capital asset in the same income tax year,
net rental income, salary or earnings and net income from self-employment, but shall not
include a return of capital, gifts or inheritances. In computing net rental income and net
income from self-employment, no depreciation deduction shall be allowed for the
exhaustion, wear and tear of real or personal property held for the production of income.
Annual Income
(Combined income of spouses)
SCHEDULE OF PERCENTAGE OF EXEMPTION
Percentage of Assessed Valuation
Exempt From Taxation
More than $24,000 but less than $25,000 45%
$25,000 or more but less than $26,000 40%
$26,000 or more but less than $27,000 35%
$27,000 or more but less than $27,900 30%
$27,900 or more but less than $28,800 25%
$28,800 or more but less than $29,700 20%
$29,700 or more but less than $30,600 15%
$30,600 or more but less than $31,500 10%
C. Income, as determined pursuant to Subsections A through B above, shall be offset by all
medical and prescription drug expenses actually paid which were not reimbursed or paid
for by insurance.
§ 185-32. Qualifications. [Amended 5-10-1983 by L.L. No. 8-1983; 11-7-1984 by L.L. No.
6-1984; 9-27-1988 by L.L. No. 6-1988; 9-25-1990 by L.L. No. 12-1990; 10-3-1991 by L.L.
No. 14-1991; 1-18-1996 by L.L. No. 1-1996; 5-15-1997 by L.L. No. 3-1997; 5-15-1997 by
L.L. No. 4-1997]
A. No exemption shall be granted from real property taxes levied by the County of Broome
for the year commencing January 1, 1981, and ending December 31, 1981, if the income
of the owner or the combined income of the owners of the real property for the income
tax year immediately preceding the date of making application for exemption exceeds the
sum of $8,200. "Income tax year" shall mean the twelve-month period for which the
owner or owners file a federal personal income tax return, or, if no return is filed, the
calendar year. Where title is vested in either the husband or wife, their combined income
may not exceed the sum of $8,200. 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 gifts or inheritances.
185:18
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