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

§ 185-92 BROOME COUNTY CHARTER AND CODE
§ 185-95
ARTICLE XIV
Exemption for Living Quarters for Parents and Grandparents
[Adopted 3-18-2004 by L.L. No. 2-2004]
§ 185-92. Eligibility; limitations.
There shall be granted an exemption from taxation 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 parent or grandparent who is 62 years of age
or older. Such exemption shall not exceed: a) the increase in assessed value resulting from
construction or reconstruction of such property; b) 20% of the total assessed value of such
property as improved; or c) 20% of the median sale price of residential property as
represented in the most recent sale statistical summary published by the State Board for the
county in which the property is located, whichever is less.
§ 185-93. Conditions.
No such exemption shall be granted unless:
A. The property is within the geographical area in which such construction or reconstruction
is permitted; and
B. The residential property so constructed or reconstructed is the principal place of
residence of the owner.
§ 185-94. Applicable time periods.
Such exemption shall be applicable only to construction or reconstruction which occurred
subsequent to August 30, 2000, and shall only apply during the years during which at least
one parent or grandparent maintains a primary place of residence in such living quarters.
§ 185-95. Application for exemption.
Such exemption from taxation shall be granted upon an application made annually by the
owner of such property to the assessor of the municipality where the property is located on or
before the taxable status date for such municipality. If the Assessor is satisfied that the
property is entitled to an exemption pursuant to this article, he shall approve the application
and such residential improvements shall be exempt from taxation and special ad valorem
levies as provided in this article.
185:46
11 - 15 - 2004