[Adopted 11-11-1997 by L.L. No. 12-1997]
The New York State Legislature has heretofore amended the Real
Property Tax Law in relation to the amount of deductions available
to persons 65 years of age or older.
The purpose of this article is to adopt an additional exemption
for persons 65 years of age or older for unreimbursed medical and
prescription drug expenses in an amount equal to such expenses. This
amount shall serve to increase the level of income by such amount
as paid for the foregoing, in such a manner as to apply to the income
ceilings as set forth in Real Property Tax Law § 467(3)(a),
as amended. This provision shall apply to real property taxes levied
by the Town of Waterford.
This article shall be applied to an Assessment Roll prepared
on the basis of a taxable status date occurring on or after August
1, 1997.
