Income tax

Mayor Barlow proposes disability, limited income tax exemption and increase for seniors exemption – Oswego County Today

Mayor Billy Barlow

OSWEGO – Oswego Mayor Billy Barlow today announced a proposal to introduce a new tax exemption for people with disabilities on limited incomes in the City of Oswego.

If approved, the exemption would provide tax relief to eligible persons with disabilities under the property tax law on a sliding scale with incomes below $37,400 per year.

Barlow is also proposing to update and expand various tax exemptions for Oswego residents age 65 and older, likely living on fixed incomes.

The proposal raises the income threshold for seniors to qualify for a city property tax exemption from a cap of $30,500 to a cap of $37,400, the maximum amount allowed by the state of New York. Barlow also said the city will incorporate more income deductions for seniors, including the amount paid for prescription drug costs not covered by insurance can now be deducted from income and amounts received as the Veterans Disability Award can now be deducted from income.

“Under my proposals, the municipal government is able to ease the tax burden of the elderly, the disabled and those who have served our country by adopting and expanding these tax exemptions authorized by state law,” Barlow said. “My administration has worked hard to reduce taxes and water and sewer bills in recent years. These exemptions can advance our efforts by providing additional relief to members of our community who need it most and deserve it the most. »

New Disability and Limited Income Exemption

Annual revenue Exemption
$29,000 or less 50%
$29,001 to $29,999 45%
$30,000 to $30,999 40%
$31,000 to $31,999 35%
$32,000 to $32,899 30%
$32,900 – $33,799 25%
$33,800 to $34,699 20%
$34,700 – $35,599 15%
$35,600 to $36,499 ten%
$36,500 to $37,399 5%

senior exemption

Existing Propose

Annual revenue % exempt Annual revenue % exempt
$22,500 or less 50% $29,000 or less 50%
$22,501 – $23,500 45% $29,001 to $29,999 45%
$23,501 – $24,500 40% $30,000 to $30,999 40%
$24,501 – $25,500 35% $31,000 to $31,999 35%
$25,501 – $26,500 30% $32,000 to $32,899 30%
$26,501 – $27,500 25% $32,900 – $33,799 25%
$27,501 – $28,500 20% $33,800 to $34,699 20%
$28,501 – $29,500 15% $34,700 – $35,599 15%
$29,501 to $30,500 ten% $35,600 to $36,499 ten%
$36,500 to $37,399 5%

“Increasing the income levels of this program is absolutely the right thing to do for our residents who need it and I fully support it,” Oswego Common Council Chair Rob Corradino said. “Updating the income guidelines was last done by Common Council in 2019 and this proposal from Mayor Barlow continues our commitment to making sure we help as many people as possible.”

Barlow will present his proposal to Common Council on Monday, May 2 at 6:30 p.m. at Oswego City Hall, 13 West Oneida Street, Oswego.

Under the proposal, water and sewer bills will also have corresponding structures to reflect tax exemptions.

As part of the changes, eligible individuals will be able to register for the year of the assessment roll in which they turn 65. Currently, individuals must be 65 on tax status day for the seniors exemption. If approved, the exemptions would come into effect for the 2023 tax roll.