Town of Waterford, NY Article II Exemption for Persons Age 65 or Older

[Adopted 1-5-2010 by L.L. No. 1-2010[1]]

[1] Editor's Note: This local law also superseded former Art. II, Senior Citizens Tax Exemption, adopted 7-31-2008 by L.L. No. 1-2008, as amended.

§ 148-2 Statutory authority; requirements and qualifications.

As permitted by § 467 of the Real Property Tax Law, real property owned by one or more persons, each of whom is 65 years of age or over as therein defined, or by a husband and wife, either of whom is 65 years of age or over, or by siblings, one of whom is 65 years of age or over, shall be exempt, to the extent set forth in § 148-3 hereof, from taxation by the Shenendehowa Central School District, provided:

A. The real property, and the owners thereof, meet all requirements and qualifications established by § 467 for obtaining such exemption.

B. The owner or owners comply with all procedural requirements of said statute in applying for the exemption.

§ 148-3 Income limitations; extent of exemption.

Real property which meets the requirements for exemption pursuant to § 148-2 hereof shall be exempt to the extent indicated below, provided that the income of the owner, or combined incomes of the owners if there is more than one, does not exceed the sum set forth below:

Annual Income	Percentage of Assessed Value Exempt from Taxation
Up to and including $29,000	50%
More than $29,000 but less than $30,000	45%
$30,000 or more but less than $31,000	40%
$31,000 or more but less than $32,000	35%
$32,000 or more but less than $32,900	30%
$32,900 or more but less than $33,800	25%
$33,800 or more but less than $34,700	20%
$34,700 or more but less than $35,600	15%
$35,600 or more but less than $36,500	10%
$36,500 or more but less than $37,400	5%

§ 148-4 When effective; applicability.

This article shall take effect immediately and shall apply to assessment rolls prepared after January 1, 2010.