[Adopted 11-18-2021 by L.L. No. 3-2021[1]]
[1]
Editor's Note: This local law also superseded former Art. I, Senior Citizens Exemption, adopted 11-30-2010 by L.L. No. 3-2010.
This article shall be known as "A Local Law Establishing Income Levels for Real Property Tax Exemptions for Senior Citizens."
This article is enacted pursuant to the requirements set forth in the New York State Real Property Tax Law § 467 to establish real property tax income levels for senior citizens.
[Amended 6-15-2023 by L.L. No. 5-2023]
The Town of Chatham hereby adopts the following sliding scale schedule relative to income levels and the percentage of assessed valuation exempt from taxation:
Annual Income
% of Exemption
$34,000 and under
50
$34,000.01-34,999.99
45
$35,000-35,999.99
40
$36,000-36,999.99
35
$37,000-37,899.99
30
$37,900-38,799.99
25
$38,800-39,699.99
20
$39,700-40,599.99
15
$40,600-41,499.99
10
$41,500-42,399.99
5