[Adopted 8-18-1986 as Ch. 59, Art. I, of the 1968 Code; amended in its entirety 2-6-1995 by L.L. No. 2-1995]
[Amended 11-10-2014 by L.L. No. 6-2014]
The following taxable amounts of income and percentage of exemption are hereby established as the basis of the limitation of the annual income for determining eligibility for partial tax exemption on real property owned by persons 65 years of age or over pursuant to § 467, Subdivision 1, of the Real Property Tax Law:
Annual Income
Percentage of Assessed Valuation Exempt from Taxation
$0 to $16,600
50
$16,600.01 to $17,599.99
45
$17,600 to $18,599.99
40
$18,600 to $19,599.99
35
$19,600 to $20,499.99
30
$20,500 to $21,399.99
25
$21,400 to $22,299.99
20
$22,300 to $23,199.99
15
$23,200 to $24,099.99
10
$24,100 to $24,999.99
5