Under New York State Law, all exemption applications must be filed with the Village of Upper Nyack on or before January 1st of each year.
Low Income Senior (RP-467)
This exemption must be renewed annually. Renewal notices are mailed the end of October to current recipients. You must be 65 years of age or older and reside in your own home. For this exemption, your prior year’s gross income from all sources, including Social Security, pensions, interest, etc. must be below $32,400. Out of pocket medical expenses are not deductible for Village purposes.
Veteran’s Exemption (RP-458-a)
The Veteran’s exemption does not need to be renewed although, from time to time, the veteran may have to submit proof of continued residency. To qualify for the base exemption, the veteran must have served on active duty during a period of war and been honorably discharged. Additional benefits are granted where the veteran served in a combat zone, as demonstrated by the award of an expeditionary medal, and/or the veteran received a compensation rating for a service-connected disability.
Volunteer Firefighter/Ambulance Worker (RP-466-a)
This exemption must be renewed annually. Beginning in 2007, a personal income tax credit up to $200 may be claimed if you are not benefitting from this program. This tax credit is likely to be more beneficial. Please check with your accountant.
The above is intended to provide some basic information on the most common exemptions. Application forms and additional information can be downloaded from the NYS Department of Taxation & Finance at www.tax.ny.gov. Forms can also be obtained at Village Hall.