2016 New York Laws
RPT - Real Property Tax
Article 4 - EXEMPTIONS
Title 2 - (420-A - 489) PRIVATE PROPERTY
469 - Assessment exemption for living quarters for parent or grandparent.

  469.  Assessment  exemption  for  living  quarters  for  parent  or
  grandparent. 1. A county, city, town, village or school district  acting
  through its local legislative body is hereby authorized and empowered to
  adopt  and  amend  local  laws,  or  resolutions  in  the case of school
  districts, to provide for an exemption from taxation to  the  extent  of
  any  increase  in  assessed value of residential property resulting from
  the construction or reconstruction of such property for the  purpose  of
  providing  living quarters for a parent or grandparent, who is sixty-two
  years of age or older. Such exemption shall not exceed (a) the  increase
  in  assessed value resulting from construction or reconstruction of such
  property, or (b) twenty percent of the  total  assessed  value  of  such
  property  as improved, or (c) twenty percent of the median sale price of
  residential property as reported in the most  recent  sales  statistical
  summary  published  by  the  commissioner  for  the  county in which the
  property is located, whichever is less.
2. No such exemption shall be granted unless:
(a) The property  is  within  the  geographical  area  in  which  such
  construction or reconstruction is permitted; and
(b)  The  residential  property so constructed or reconstructed is the
  principal place of residence of the owner.
3.  Such  exemption  shall  be  applicable  only  to  construction  or
  reconstruction  which  occurred subsequent to the effective date of this
  section and shall only apply during taxable years during which at  least
  one such parent or grandparent maintains a primary place of residence in
  such living quarters.
4.  Such  exemption from taxation shall be granted upon an application
  made annually, upon a form to be promulgated by the commissioner, by the
  owner of such property to the assessor of the  city,  town,  village  or
  county having the power to assess property for taxation on or before the
  appropriate  taxable  status date of such city, town, village or county.
  If the assessor is  satisfied  that  the  property  is  entitled  to  an
  exemption pursuant to this section, he shall approve the application and
  such  residential improvements shall be exempt from taxation and special
  ad valorem levies as provided in this section.
5. For the purposes of this section, the term "parent or  grandparent"
  shall  be  deemed  to  include  the  birth  or adoptive grandparents and
  parents of the owner or the spouse of the owner.
6. Any conviction of having made any willful false  statement  in  the
  application  for  such exemption shall result in the revocation thereof,
  be punishable by a civil penalty of not more than  one  hundred  dollars
  and  shall disqualify the applicant or applicants from further exemption
  for a period of five years.