N.Y. Real Property Tax Law Section 467-D
Assessment exemption for certain living quarters constructed to be occupied by a senior citizen or disabled individual

1.

A town which is bordered by the Hudson river on the west and a different county other than the one in which it is located on the north and is located in a county which has a county tax commission with members who serve five year overlapping terms and have powers and duties with respect to real property taxation, acting through its local legislative body is hereby authorized and empowered to adopt and amend local laws to provide for an exemption from taxation and special ad valorem levies 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 senior citizen, who is sixty-five years of age or older, or individuals considered disabled and receiving social security disability benefits. Such an exemption shall not exceed (a) the increase in assessed value resulting from construction or reconstruction of such property, or

(b)

twenty percent of the total assessed value of such property as improved, or

(c)

twenty percent of the median sale price of residential property as reported in the most recent statistical sales summary published by the office of real property services for the county in which the property is located, whichever is less.

2.

No such exemption shall be granted unless:

(a)

the zoning ordinance of such town in which such property is located permits the construction or reconstruction of residential property for the purpose of providing living quarters for senior citizens or disabled individuals;

(b)

the property is located within the geographical area in which such construction or reconstruction is permitted; and

(c)

the residential property is so constructed or reconstructed such that it is the principal place of residence for the owner.

3.

Such exemption shall be applicable only to construction or reconstruction which occurred subsequent to the effective date of this section and shall only apply during taxable years in which such living quarters are the legal residence of the senior citizen or disabled person.

4.

Such exemption from taxation shall be granted upon an application which shall include a statement that a qualified senior citizen or disabled individual resides at the residence and shall be made annually upon a form to be promulgated by the office of real property services and filed by the owner of such property to the assessor of such town which has the power to assess property for taxation on or before the appropriate taxable status date of such town. If the assessor is satisfied that the property is qualified for an exemption pursuant to this section, then such residential improvements shall be exempt from taxation and special ad valorem levies as herein provided.

5.

Any conviction of having made any willful false statements in the application for such exemption shall result in the revocation thereof, be punishable by a civil penalty of not more than two hundred dollars and shall disqualify the applicant or applicants from further exemptions for a period of two years.

Source: Section 467-D — Assessment exemption for certain living quarters constructed to be occupied by a senior citizen or disabled individual, https://www.­nysenate.­gov/legislation/laws/RPT/467-D (updated Sep. 22, 2014; accessed Oct. 26, 2024).

420‑A
Nonprofit organizations 420‑B
Nonprofit organizations 420‑C
Exemption from local real property taxation of certain low income housing accommodations in a city having a population of one million or ... 421‑A
Affordable New York Housing Program 421‑B
Exemption of certain private dwellings, multiple dwellings and improvements from local taxation 421‑C
Exemption of certain new multiple dwellings from local taxation 421‑D
Exemption of multiple dwellings financed by the New York state housing finance agency from local taxation 421‑E
Exemption of cooperative, condominium, homesteading and rental projects from local taxation 421‑F
Exemption of capital improvements to residential buildings and certain new construction 421‑FF
Exemption of capital improvements to residential buildings in cities with a population between twenty-seven thousand five hundred and twe... 421‑G
Exemption from local taxation of certain multiple dwellings 421‑H
Exemption of capital improvements to multiple dwelling buildings within certain cities 421‑H*2
Exemption of capital improvements to residential buildings 421‑I
Exemption of capital improvements to multiple dwelling buildings within certain cities 421‑I*2
Exemption of capital improvements to multiple dwelling buildings within certain cities 421‑J
Exemption of capital investment in multiple dwelling buildings within certain cities 421‑J*2
Exemption of capital improvements to multiple dwelling buildings within certain cities 421‑K
Exemption of certain multiple dwellings 421‑L
Exemption of capital improvements to residential buildings in certain towns 421‑M
Exemption of certain new or substantially rehabilitated multiple dwellings from local taxation 421‑N
Exemption of capital improvements to multiple dwelling buildings within certain cities 421‑O
Exemption of capital improvements to multiple dwelling buildings within certain cities 421‑O*2
Exemption of capital improvements to multiple dwelling buildings within certain cities 421‑P
Exemption of newly-constructed or converted rental multiple dwellings 421‑P*2
Exemption of capital improvements to residential new construction involving the creation of accessory dwelling units 422
Not-for-profit housing companies 423
Phase out of exemption for redevelopment company projects upon the cessation of the tax exemption granted pursuant to contract 424
Institute of arts and sciences 425
School tax relief (STAR) exemption 425‑A
Abatement of county taxes in special assessing units 426
Opera houses 427
Performing arts buildings 428
Fraternal organizations 429
Real property used for professional major league sports 430
Interdenominational centers 432
Theatrical corporations created by act of congress 434
Academies of music 436
Officers of religious denominations 438
Trustees of a hospital, playground and library 440
Infant homes 442
Soldiers monument corporations 444
Historical societies 444‑A
Historic property 446
Cemeteries 450
Agricultural societies 452
Veterans organizations 454
Indians 455
Exemption option 456
Municipal railroads 457
Exemption for first-time homebuyers of newly constructed homes 458
Veterans 458‑A
Veterans 458‑B
Exemption for Cold War veterans 458‑C
Improvements to property of severely injured members of the armed forces of the United States 459
Persons who are physically disabled 459‑A
Improvements to property made pursuant to the Americans with Disabilities Act of 1990 459‑B
Physically disabled crime victims 459‑C
Persons with disabilities and limited incomes 460
Clergy 462
Religious corporations 464
Incorporated associations of volunteer firefighters 466
Volunteer firefighters and fire companies in villages 466‑A
Volunteer firefighters and volunteer ambulance workers 466‑A*2
Volunteer firefighters and volunteer ambulance workers 466‑B
Volunteer firefighters and volunteer ambulance workers 466‑C
Volunteer firefighters and volunteer ambulance workers 466‑C*2
Volunteer firefighters and volunteer ambulance workers 466‑C*3
Volunteer firefighters and volunteer ambulance workers 466‑C*4
Volunteer firefighters and volunteer ambulance workers 466‑C*5
Volunteer firefighters and volunteer ambulance workers 466‑C*6
Volunteer firefighters and volunteer ambulance workers 466‑C*7
Volunteer firefighters and volunteer ambulance workers 466‑D
Volunteer firefighters and volunteer ambulance workers 466‑D*2
Volunteer firefighters and volunteer ambulance workers 466‑D*3
Volunteer firefighters and volunteer ambulance workers 466‑D*4
Volunteer firefighters and volunteer ambulance workers 466‑E
Volunteer firefighters and volunteer ambulance workers 466‑E*2
Volunteer firefighters and volunteer ambulance workers 466‑E*3
Volunteer firefighters and volunteer ambulance workers 466‑E*4
Volunteer firefighters and volunteer ambulance workers 466‑F
Volunteer firefighters and volunteer ambulance workers 466‑F*2
Volunteer firefighters and volunteer ambulance workers 466‑F*3
Volunteer firefighters and volunteer ambulance workers 466‑F*4
Volunteer firefighters and volunteer ambulance workers 466‑F*5
Un-remarried spouses of volunteer firefighters or volunteer ambulance workers killed in the line of duty 466‑G
Volunteer firefighters and volunteer ambulance workers 466‑G*2
Volunteer firefighters and volunteer ambulance workers 466‑H
Volunteer firefighters and volunteer ambulance workers 466‑H*2
Un-remarried spouses of deceased volunteer firefighters or volunteer ambulance workers 466‑I
Volunteer firefighters and volunteer ambulance workers 466‑J
Volunteer firefighters and volunteer ambulance workers 466‑K
Volunteer firefighters and volunteer ambulance workers 466‑L
Extension of benefits 467
Persons sixty-five years of age or over 467‑A
Partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having a populatio... 467‑B
Tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities 467‑C
Exemption for property owned by certain housing companies or sublessees of the battery park city authority and occupied by senior citizen... 467‑D
Assessment exemption for certain living quarters constructed to be occupied by a senior citizen or disabled individual 467‑E
Rebate for owners or tenant-stockholders of one, two or three family residences or residential property held in the condominium or cooper... 467‑F
Protective and safety devices tax abatement 467‑G
Rebate for owners of certain real property seriously damaged by the severe storm that occurred on the twenty-ninth and thirtieth of Octob... 467‑H
Partial abatement for certain rebuilt real property seriously damaged by the severe storm that occurred on the twenty-ninth and thirtieth... 467‑I
Real property tax abatement 467‑J
Exemption for certain residential properties located in certain counties 467‑K
Senior citizen longtime resident exemption 467‑K*2
Exemption for certain residential property required to participate in the federal flood insurance program 467‑L
Rebate for owners of certain real property in the city of New York 467‑M
Exemption from local real property taxation of certain multiple dwellings in a city having a population of one million or more 468
Fire patrol and salvage corps 469
Assessment exemption for living quarters for parent or grandparent 470
Exemption for improvements to real property meeting certification standards for green buildings 472
Pharmaceutical societies 474
Dental societies 476‑A
Railroad passenger stations 477
Tax exemption for industrial waste treatment facilities 477‑A
Tax exemption for air pollution control facilities 478
Tax exemption for off-street parking facilities providing underground shelters 479
Fallout shelter facilities 480
Forest and reforested lands 480‑A
Taxation of forest land 481
Taxation of land used for agricultural production 482
Quarantined lands 483
Exemption from taxation of structures and buildings essential to the operation of agricultural and horticultural lands 483‑A
Farm silos, farm feed grain storage bins, commodity sheds, bulk milk tanks and coolers, and manure storage and handling facilities 483‑B
Historic barns 483‑C
Temporary greenhouses 483‑D
Farm or food processing labor camps or commissaries 483‑E
Anaerobic digestion facilities 484
Urban redevelopment corporations and companies 485
Nuclear powered electric generating facilities 485‑A
Residential-commercial urban exemption program 485‑B
Business investment exemption 485‑C
Exemption from taxation of real property used in manufacture of steel in cities of fifty thousand or more persons 485‑D
Water-works corporations 485‑E
Empire zone exemption 485‑F
Banking development districts 485‑G
Infrastructure exemption 485‑H
Residential investment exemption 485‑I
Residential investment exemption 485‑I*2
Residential investment exemption 485‑J
Residential property improvement exemption 485‑J*2
Residential investment exemption 485‑J*3
Residential investment exemption 485‑J*4
Residential investment exemption 485‑J*5
Residential investment exemption 485‑K
Residential investment exemption 485‑L
Residential property improvement 485‑L*2
Residential investment exemption 485‑M
Residential investment exemption 485‑N
Residential-commercial exemption program 485‑O
New residential property exemption 485‑P
Economic transformation area exemption 485‑Q
Residential investment exemption 485‑R
Residential redevelopment inhibited property exemption 485‑S
Residential reassessment exemption 485‑S*2
Residential reassessment exemption 485‑S*3
Mixed use exemption program for villages 485‑T
Owner occupied residential property exemption program 485‑U
Class one reassessment exemption 485‑V
Residential revaluation exemption 485‑V*2
Residential and mixed-use investment exemption 485‑W
Newly constructed single-family and multi-family residential exemption 485‑X
Affordable neighborhoods for New Yorkers tax incentive 486
Non-profit medical and dental indemnity, or hospital service corporations 486‑A
Non-profit corporations operating as health maintenance organizations 487
Exemption from taxation for certain energy systems 487‑A
Exemption from taxation of conservation improvements to certain residential premises 488
Retirement systems 488‑A
Rehabilitation of certain class B multiple dwellings and class A multiple dwellings used for single room occupancy 489
Exemption from taxation of alterations and improvements to multiple dwellings to eliminate fire and health hazards
Green check means up to date. Up to date

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 467-D’s source at nysenate​.gov

Link Style