Town of Schodack, NY
Rensselaer County
By using eCode360 you agree to be legally bound by the Terms of Use. If you do not agree to the Terms of Use, please do not use eCode360.
Table of Contents
Table of Contents
[Adopted 10-25-1990 by L.L. No. 5-1990[1]]
[1]
Editor's Note: This local law also repealed former Art. I, Senior Citizens Exemption, adopted 2-11-1971 by L.L. No. 1-1971, as amended.
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, shall be exempt from taxation by the Town of Schodack to the extent set forth in this chapter.
[Amended 2-28-2001; 2-24-2003; 2-12-2004; 12-14-2006]
Such real property tax exemption shall be subject to the provisions of § 467 of the Real Property Tax Law, including but not limited to the income qualifications, restrictions and penalties set forth therein, and the following income limitations:
A. 
For the year 2007:
Annual Income
Percentage of Assessed Valuation Exempt From Taxation
$26,000 or less
50%
More than $26,001 to $27,000
45%
More than $27,001 to $28,000
40%
More than $28,001 to $29,000
35%
More than $29,001 to $29,900
30%
More than $29,901 to $30,800
25%
More than $30,801 to $31,700
20%
More than $31,701 to $32,600
15%
More than $32,601 to $33,500
10%
More than $33,501 to $34,400
5%
B. 
For the year 2008:
Annual Income
Percentage of Assessed Valuation Exempt From Taxation
$27,000 or less
50%
More than $27,001 to $28,000
45%
More than $28,001 to $29,000
40%
More than $29,001 to $30,000
35%
More than $30,001 to $30,900
30%
More than $30,901 to $31,800
25%
More than $31,801 to $32,700
20%
More than $32,701 to $33,600
15%
More than $33,601 to $34,500
10%
More than $34,501 to $35,400
5%
C. 
For the year 2009:
Annual Income
Percentage of Assessed Valuation Exempt From Taxation
$28,000 or less
50%
More than $28,001 to $29,000
45%
More than $29,001 to $30,000
40%
More than $30,001 to $31,000
35%
More than $31,001 to $31,900
30%
More than $31,901 to $32,800
25%
More than $32,801 to $33,700
20%
More than $33,701 to $34,600
15%
More than $34,601 to $35,500
10%
More than $35,501 to $36,400
5%
D. 
For the year 2010:
Annual Income
Percentage of Assessed Valuation Exempt From Taxation
$29,000 or less
50%
More than $29,001 to $30,000
45%
More than $30,001 to $31,000
40%
More than $31,001 to $32,000
35%
More than $32,001 to $32,900
30%
More than $32,901 to $33,800
25%
More than $33,801 to $34,700
20%
More than $34,701 to $35,600
15%
More than $35,601 to $36,500
10%
More than $36,501 to $37,400
5%
The Town Board of the Town of Schodack, after public hearing, may by resolution amend the income qualifications for the subject real property tax exemption.