[Adopted 5-2-1984 by L.L. No. 5-1984; amended in its entirety 12-4-1996 by L.L. No. 8-1996]
A. 
Pursuant to Real Property Tax Law § 467, local law and Chapter 139 of the Laws of 1996, senior citizens with a maximum level of income of less than $18,500 are eligible to receive an exemption from real property taxation from the town to the extent of 50% of the assessed valuation.
B. 
Chapter 139 of the Laws of 1996 also permits a municipality to amend a local law granting real property tax exemptions for senior citizens to include those with an income of less than $26,900, according to a specified schedule.
Eligible persons 65 years of age or over in the Town of New Hartford with a maximum level of income of less than $18,500 may apply for and will receive an exemption from real property taxation from the town to the extent of 50%. Those eligible persons 65 years of age or older with income less than $26,900 will also be eligible for real property tax exemptions as follows:
Annual Income
Percentage Assessed Valuation Exempt from Taxation
More than $18,500 but less than $19,500
45%
$19,500 or more but less than $20,500
40%
$20,500 or more but less than $21,500
35%
$21,500 or more but less than $22,400
30%
$22,400 or more but less than $23,300
25%
$23,300 or more but less than $24,200
20%
$24,200 or more but less than $25,100
15%
$25,100 or more but less than $26,000
10%
$26,000 or more but less than $26,900
5%