Schenectady County Senior Citizen Tax Exemption

New York State Real Property Tax Law, section 467, allows local governments the option of granting a reduction on the amount of property taxes paid by qualifying senior citizens. In Schenectady County, eligible residents can receive up to a 50% assessed valuation exemption from Schenectady County Taxes. Who is Eligible Schenectady County property owners 65 years and older with annual incomes $37,399 or less are eligible under the following conditions: Applicants must be 65 years of age or older in the year they are applying. If husband and wife own the property, only one must be 65 years of age. The combined income of all the owners cannot exceed $37,399. In case of husband and wife, if title is vested in one name only, the combined income of both must be considered. Income is figured for the calendar year immediately preceding the date of application. Income includes Social Security, retirement benefits, interest, net rental income, salary or earnings, and income from self-employment, but does not include gifts or inheritances. Unreimbursed medical expenses and unreimbursed prescription drug expenses may now be deducted from income. The applicant must have owned the property or another residential property in Schenectady County for at least two years prior to making the application. The property must be used exclusively for residential purposes. The property must be the legal residence of the applicant and be occupied in whole or in part by the owner or all the owners of the property.

Exceptions

Percentage Assessed Valuation

Annual Income Exempt
from County Taxation

 

Less than $29,000


50%

More than $29,001 but less than $29,999.99

45%

More than $30,000 but less than $30,999.99

40%

More than $31,000 but less than $31,999.99

35%

More than $32,000 but less than $32,899.99

30%

More than $32,900 but less than $33,799.99

25%

More than $33,800 but less than $34,699.99

20%

More than $34,700 but less than $35,599.99

15%

More than $35,600 but less than $36,499.99

10%

More than $36,500 but less than $37,399.99

05%

 

Contact

Deborah M. Mancini
    Director

Paul G. Romano
   Deputy Director

County Office Building
620 State Street, 3rd Floor
Schenectady, NY 12305
518-388-4246