AUTHORIZING A REAL PROPERTY TAX EXEMPTION PURSUANT TO REAL PROPERTY TAX LAW SECTION 467, AS AMENDED BY
CHAPTER 488 OF THE LAWS OF 2022, AND SUPERSEDING RESOLUTION #23 OF 2024
Glenn R. Hall, Town Supervisor, introduced to the Town Board a proposed Resolution authorizing a real property tax exemption pursuant to Real Property Tax Law Section 467, as amended by Chapter 488 of the Laws of 2022, and establishing the income limitation relative to partial exemption from real property taxes for persons 65 years of age and over and to include in the term “income” for purposes of applying the exemption distributions received from an individual retirement account or individual retirement annuity that were included in an applicant’s federal adjusted gross income plus any social security benefits not included in such federal adjusted gross income.
Supervisor Glenn R. Hall then offered the following proposed Town Board Resolution, Councilman Roger Volles moved for its adoption and s Councilman Jesse Spaulding seconded the motion.
WHEREAS, the Town of Otisco enacted Local Law No. One of 1966 granting a partial exemption from real property taxation for real property owned by certain persons with limited income who are 65 years of age and over; and
WHEREAS, the Town of Otisco, by Local Law #3 of 2024, repealed Local Law No. One of 1966; and
WHEREAS, the Town Board of the Town of Otisco thereafter adopted Resolution #23 of 2024 establishing income limitations for the senior citizens real property tax exemption pursuant to Real Property Tax Law Section 467; and
WHEREAS, Real Property Tax Law Section 467, as amended, authorizes municipalities to establish maximum income eligibility levels for persons sixty-five years of age and over; and
WHEREAS, Onondaga County, pursuant to Real Property Tax Law Section 467, has adopted a sliding-scale income schedule for the senior citizens real property tax exemption, and the Town Board of the Town of Otisco now desires to revise its income eligibility limits to conform to the current Onondaga County schedule and to supersede Resolution #23 of 2024; and
WHEREAS, the Town Board duly held a public hearing on the 12th day of January, 2026, after publishing notice o the public hearing as required by law;
NOW, THEREFORE, BE IT
RESOLVED, that the Town of Otisco hereby enacts a partial exemption from real property taxes for persons 65 years of age and over pursuant to Real Property Tax Law Section 467, as amended, and adopts the following income limitations for such exemption, consistent with the income schedule adopted by Onondaga County:
EXEMPTION INCOME LIMITS
50% $50,000.00
45% $50,999.99
40% $51,999.99
35% $52,999.99
30% $53,899.99
25% $54,799.99
20% $55,699.99
15% $56,599.99
10% $57,499.99
5% $58,399.99
and be it further
RESOLVED, that effective for the assessment roll prepared on the basis of the taxable status date next following the adoption of this Resolution, and for all subsequent assessment rolls until further action of this Board, the term “income” for purposes of applying the exemption shall include distributions received from an individual retirement account or individual retirement annuity that were included in an applicant’s federal adjusted gross income plus any social security benefits not included in such federal adjusted gross income; and be it further
RESOLVED, that this Resolution shall supersede Resolution #23 of 2024 and any prior resolutions of the Town Board establishing income limits for the senior citizens exemption under Real Property Tax Law Section 467, and to the extent inconsistent therewith, such prior resolutions are hereby repealed.
The Town Board thereupon voted to adopt the proposed Resolution as a Resolution of the Town Board of the Town of Otisco as follows:
Ayes 4 Nays -0-