Town of Halfmoon Assessor Provides Important Update On Partial Tax Exemptions For Senior Citizens

Halfmoon — On Feb. 15, the Town of Halfmoon Assessor Anne Marie Zarelli, SCA, provided an informational update on partial tax exemptions for senior citizens, as well as the deadline for application submission.  

The informational update is regarding RP 467 (Real Property Tax Law, section 467), which gives local governments and school districts the option of granting a reduction in the amount of property taxes paid by qualifying senior citizens. Applications for the exemption are due by 4 p.m. on Wednesday, March 1, 2023, at the Town of Halfmoon Assessor’s Office. 

Zarelli noted that the County of Saratoga and each school district set the maximum income limit they will allow, with equalization rates applied to the maximum gross limit amount. The respective age, residency, and income qualifications are listed below. 

Owner Eligibility Requirements: 

• The property must be the “legal residence” of, and must be occupied by, all of the owners of the property; 

• At least one owner must be 65 by March 1, 2023; 

• An individual must own the property for at least 12 consecutive months prior to the date of filing for the exemption; 

• There can be no school-age children residing in the home to receive the benefit off of the school tax bill; 

• The life tenant is entitled to possession and use of the property for the duration of his or her life and is deemed the owner for all purposes, including taxation. The exemption also may be allowed if the property is in trust and all the trustees, or all the beneficiaries qualify; and 

• Homes in mobile home parks are not eligible as they do not receive their own tax bill. 

If an individual believes they qualify for this exemption, they should either visit the Town of Halfmoon Tax Assessor’s office or call 518-371-7410 ext. 2244.  

On November 15, 2022, the Saratoga County Board of Supervisors passed a resolution adopting a higher income limit for seniors.  

Please note: this new scale is only applicable to the January tax bill beginning in 2024. Under the sliding scale option, a qualifying senior can have a yearly gross income as high as each taxing jurisdiction sets as shown on the chart below: 

Taxing Jurisdiction                                                         Maximum Gross Income Limit 

Saratoga County                                                               $35,700 

Mechanicville School District                         $14,700 

Shenendehowa School District                        $37,400 

Waterford-Halfmoon School District             $34,700 

Gross income for 2021 will be utilized to determine eligibility. Income includes: 

All Social Security payments; 

Salary and wages (including bonuses); 

Interest (including nontaxable interest on state or local bonds), total dividends; 

Net earnings from farming, rentals, business, or profession (if any amounts have been claimed as depreciation for income tax purposes, they must be added back in); 

Income from estates or trusts; 

Gains from sales and exchanges; 

The total amount received from governmental or private retirement or pension plans; 

Annuity payments (excluding amounts representing a return of capital); 

Alimony or support money; and 

Unemployment insurance payments, disability payments, workers’ compensation, etc. 

None of the taxing jurisdictions allow for medical expenses to be deducted from income. 

Assessor Zarelli noted that renewal applications were sent out in December for anyone already on this program. All renewal applications and tax returns require signatures from all owners and their spouses. If an individual believes they qualify for this exemption, they should either visit the Town of Halfmoon Tax Assessor’s office or call 518-371-7410 ext. 2244.