Minerva board adopts sliding-scale property tax exemption for residents 65 and older

The Town of Minerva board adopted Local Law No. 1 of 2025 on May 1, changing income limits and establishing a sliding scale for partial real property tax exemptions for owners 65 years and older. Supervisor Stephen McNally read the proposed law at the public hearing and explained the schedule of exemptions tied to annual income.

Under the new schedule, owners with annual income less than $25,000 would receive a 50% exemption of assessed valuation, $25,001–$30,000 a 40% exemption, $30,001–$34,999 a 30% exemption, $40,000–$44,999 a 20% exemption, and $45,000–$50,000 a 10% exemption. The law specifies that “annual income shall include income from all sources including non-taxable social security, retirement and pension income, interest and IRA income and income from employment,” and it cites authority in Section 467 of the New York Real Property Tax Law. Supervisor McNally said the measure will take effect upon filing with the New York Secretary of State for the 2026 assessment cycle.

At the public hearing McNally answered residents’ questions about eligibility and outreach, saying the exemption is limited to a primary residence and that the town expects the change to allow roughly 25 additional residents to qualify. He said application materials will be posted on the town website and that the annual application window will open early in 2026 and close in March for the 2026 assessment cycle.

The board voted 5-0 to adopt the local law on a motion moved by Councilman David LaBar and seconded by Councilman Keith Dubay. The board recorded the roll-call vote as Aye – McNally, McCall, Dubay, LaBar, Fish; Nay – none.