[Adopted 3-19-2001 by L.L.
No. 2-2001]
The purpose of this article is to grant a partial exemption from taxation
to the extent of 50% of the assessed valuation of real property which is owned
by certain persons with limited income who are 65 years of age or over meeting
the requirements set forth in § 467 of the Real Property Tax Law.
Real property owned by one or more persons, each of whom is 65 years
of age or over, or real property owned by husband and wife, one of whom is
65 years of age or over, meeting the requirements set forth in § 467
of the Real Property Tax Law, shall be exempt from real property village taxes
to the extent of 20% to 50% of the assessed valuation, subject to the following
conditions:
A.
The owner or all of the owners must file an application
annually in the Town of Hamburg Assessor's office at least 90 days before
the day for filing the final assessment roll or such other time as may be
hereafter fixed by law.
B.
The income of the owner or the combined income of the
owners must not exceed the following amounts for the 12 consecutive months
prior to the date that the application is filed. Where title is vested in
either the husband or wife, the combined income may not exceed such sum.
|
Annual Income
|
Percentage Assessed Valuation
Exempt From Taxation
| |
|---|---|---|
|
Less than $12,500
|
50%
| |
|
More than $12,500, but less than $13,500
|
45%
| |
|
$13,500 or more, but less than $14,500
|
40%
| |
|
$14,500 or more, but less than $15,500
|
35%
| |
|
$15,500 or more, but less than $16,400
|
30%
| |
|
$16,400 or more, but less than $17,300
|
25%
| |
|
$17,300 or more, but less than $18,200
|
20%
|
C.
Title to the property must be vested in the owner or,
if more than one, in all the owners for at least 12 consecutive months prior
to the date the application is filed.
D.
The property must be used exclusively for residential
purposes, be occupied in whole or in part by the owners and constitute the
legal residence of the owners.
