Income min for tax exemptions increases for senior citizensIn a move aimed at providing relief to the elderly during this time of high inflation and costs, the Oswego City School District passed a measure allowing more district senior citizens to benefit from property tax exemption savings.
This senior citizen tax exemption works on a sliding scale where the lower a household’s income is the higher the percentage savings will be on the school tax bill, up to 50%.
OCSD Executive Director of Business and Finance Nancy Squairs said the exemptions generally would now apply to all OCSD homeowners aged 65 or older prior to March 1 of this year whose property is their primary residence and the combined income of all owners, and their spouses, is $37,400 gross before tax deductions.
“Knowing how tough times are financially, it was important to do something to raise this tax exemption limit to ease the burden on some of our senior citizens who are already facing rising costs elsewhere,” said Oswego Superintendent Dr. Mathis Calvin III. “Between rising food, medicine and healthcare costs, it was important to the Board and myself get this measure passed.”
To apply, submit a completed RP-467 application to your local Assessor no later than March 1, 2023. Click here for an online version of application Form RP-467: https://www.tax.ny.gov/pdf/current_forms/orpts/rp467_fill_in.pdf. Physical applications are available online or at your local assessor’s office.
Anyone who submitted a new application or a renewal application this year for tax exemption will automatically receive the correct benefit based on this higher income scale, officials said. Those with questions on property tax exemptions is encouraged to call their local city or town assessor.
A list of local assessors can be found on Oswego County’s website at http://www.oswegocounty.com/rpts or by calling the county at 315-349-8315.