News Flash

Home Page News and Announcements

Posted on: March 13, 2023

Senior Tax Break

Senior Tax Break

Smithtown Town Board Unanimously Approves Tax Exemption for Seniors Living on a Limited Income

The Town of Smithtown Town Board voted unanimously to expand a partial real property tax exemption for senior citizens living on a limited income. The amendment, passed during the February 16th, 2023 Town Board meeting, removed outdated information and increased the amount of the maximum income of a person entitled to the exemption to as much as $58,400 as of July 1, 2022. Notice of the updated partial real property tax exemption was sent via mail to potentially eligible homeowners.

 

“Our hope is that this change will provide relief to our seniors, so that they may enjoy retirement without undue stress. Times have been especially tough for our senior residents living on a fixed income. The pandemic, the cost of inflation, oil and gas have all inevitably resulted in unforeseen expenses, which can make living on a fixed income especially difficult for seniors. Increasing the maximum income to as high as $58,400, so that residents over the age of 65 can take advantage of the partial tax exemption, can help to alleviate some of this burden.” - Supervisor Ed Wehrheim

 

Senior residents over the age of 65 making an annual income of no more than $58,400 (beginning as of July 1, 2022) are eligible to apply for the partial tax exemption. Thereafter at the percentage of assessed valuation thereof as determined by the following schedule, with the amount for each year represented as (M), pursuant to the provisions of § 467 of the Real Property Tax Law. (M) equals $50,000.



Annual Income

Percentage of Assessed Valuation Exempt From Taxation


More than (M) but less than (M) +$1,000

45%


(M) +$1,000 or more but less than (M) +$2,000

40%


(M) +$2,000 or more but less than (M) +$3,000

35%


(M) +$3,000 or more but less than (M) +$3,900

30%


(M) +$3,900 or more but less than (M) +$4,800

25%


(M) +$4,800 or more but less than (M) +$5,700

20%


(M) +$5,700 or more but less than (M) +$6,600

15%


(M) +$6,600 or more but less than (M) +$7,500

10%


(M) +$7,500 or more but less than (M) +$8,400

5%

 

Once granted, the property tax partial exemption can not be rescinded solely due to the death of the older spouse, provided that the surviving spouse is at least 62 years of age. 

 

For a list of tax exemptions and eligibility criteria, visit the Town of Smithtown’s Assessor's Department online at https://www.smithtownny.gov/103/Assessors-Office or call 631-360-7560. 

Additional Info...
Facebook Twitter Email

Other News in Home Page News and Announcements

Maizee

Smithtown Pet of the Week

Posted on: December 6, 2023
Buddy

Smithtown Pet of the Week

Posted on: November 29, 2023
TOS

Men's Softball

Posted on: November 28, 2023
TOS

Scorekeepers Wanted

Posted on: November 28, 2023
Jack

Smithtown Pet of the Week

Posted on: November 21, 2023
Huey, Dewey, Louie

Smithtown Pets of the Week

Posted on: November 15, 2023
Buster

Smithtown Pet of the Week

Posted on: November 8, 2023
Callahan's Beach

Callahan's Beach Now Open

Posted on: November 7, 2023
Hoyt Farm Halloweekend

A Hoyt Farm Halloweekend

Posted on: November 6, 2023
Akneada Baker

Smithtown Pet of the Week

Posted on: October 31, 2023
Candyland

Smithtown Pet of the Week

Posted on: October 25, 2023
Shred Event

Smithtown Shreds 8.37 Tons of Paper

Posted on: October 23, 2023
Hoyt Ribbon Cutting

Hoyt Farm Renovations Completed

Posted on: October 18, 2023
Lilly

Smithtown Pet of the Week

Posted on: October 18, 2023
Sweet Tea

Smithtown Pet of the Week

Posted on: October 4, 2023
Jitterbug

Smithtown Pet of the Week

Posted on: September 27, 2023
Barbie

Smithtown Pet of the Week

Posted on: September 20, 2023
Childhood Cancer Tree Lighting

Smithtown Goes Gold for Childhood Cancer

Posted on: September 14, 2023
Smokey

Smithtown Pet of the Week

Posted on: September 13, 2023
September 11th Ceremony

Remembering September 11, 2001

Posted on: September 14, 2023
Hannibal

Smithtown Pet of the Week

Posted on: September 6, 2023
Lanieri Park

Lanieri Park Dedication

Posted on: September 6, 2023
Hoyt Farm Memorials

Hoyt Family Homecoming

Posted on: August 9, 2023
Cherry Blossom

Celebrating Arbor Day 2023

Posted on: April 20, 2023
Stream Cleaning

Nissequogue River Stream Cleaning

Posted on: April 18, 2023
Residential Repair

Home Repair Services for Senior Citizens

Posted on: February 22, 2023