[Adopted 2-12-1998 by L.L. No. 1-1998]
This article is adopted pursuant to the authority
of Real Property Tax Law § 459-c. All definitions, terms
and conditions of such statute shall apply to this article.
Real property owned by a person with disabilities
whose income is limited by such disabilities, and used as the legal
residence of such person, shall be entitled to a partial exemption
from taxation to the extent of 50% of assessed valuation.
[Amended 2-8-2001 by L.L. No. 1-2001; 3-10-2003; 2-12-2004; 12-14-2006]
To be eligible for the exemption authorized
by such § 459-c and implemented by this article, the maximum
income of such person shall not exceed the amounts set forth below
to qualify for the fifty-percent exemption. Any such person having
a higher income shall be eligible for exemption in accordance with
the following schedule:
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%
|
[Added 2-8-2001 by L.L. No. 1-2001]
The Town Board of the Town of Schodack, after
public hearing, may, by resolution, amend the income qualifications
for the subject exemption.
