[Adopted 6-18-1980 by resolution]
Real property in the Incorporated Village of Laurel Hollow, owned by
one (1) or more persons, each of whom is sixty-five (65) years of age or over,
or real property owned by a husband and wife, one (1) of whom is sixty-five
(65) years of age or over, shall be exempt from taxation by said village to
the extent of fifty percent (50%) of the assessed valuation thereof, provided
that said person or persons, and the real property, shall meet and comply
with all of the qualifications, conditions and requirements of § 467
of the Real Property Tax Law; and provided further, however, that no exemption
shall be granted if the income of the owner or the combined income of the
owners of the property for the income tax year immediately preceding the date
of making application for exemption exceeds the sum of eight thousand dollars
($8,000.).
