[Adopted 12-17-1970]
The purpose of this article is to grant a partial exemption from taxation to the extent of 50% of the assessed valuation of real property which is owned by any one person with limited income who is 65 years of age or over meeting the requirements set forth in § 467 of the Real Property Tax Law.
Real property owned by persons 65 years of age or over shall be exempt from town taxes to the extent of 50% of the assessed valuation, subject to the following conditions:
A. 
The owner or all of the owners must file an application annually in the Assessor's office at least 90 days before the day for filing the final assessment roll or such other time as may be hereafter fixed by law.
B. 
The income eligibility levels are hereby modified pursuant to and in accordance with § 467 of the Real Property Tax Law. The percentage of exemption shall be based on the maximum annual income ranges specified herein as follows:
[Amended 2-20-1975; 10-20-1977; 2-19-1981; 4-18-1982; 12-29-1983; 9-15-1988; 2-15-1990 by Ord. No. 1-1990; 4-18-1991 by L.L. No. 1-1991; 10-27-1997 by L.L. No. 1-1997; 3-18-1999 by L.L. No. 4-1999; 5-16-2002 by L.L. No. 1-2002; 4-20-2006 by L.L. No. 3-2006; 2-16-2023 by L.L. No. 3-2023]
Income Range
Percentage of Exemption
Between $0 and $33,999
50%
Between $34,000 and $34,999
45%
Between $35,000 and $35,999
40%
Between $36,000 and $36,999
35%
Between $37,000 and $37,899
30%
Between $37,900 and $38,799
25%
Between $38,800 and $39,699
20%
Between $39,700 and $40,599
15%
Between $40,600 and $41,499
10%
Between $41,500 and $42,399
5%
$42,400 or more
No exemption
C. 
Title to the property must be vested in the owner or, if more than one, in all owners for at least 12 consecutive months prior to the date that the application is filed. However, in the event that any person or persons have owned property, actually used and occupied for residential use, for which an exemption was granted under § 467 of the Real Property Tax Law, such prior exemption shall qualify the applicant under this subsection.
[Amended 4-18-1991 by L.L. No. 1-1991; 3-18-1999 by L.L. No. 4-1999]
D. 
The property must be used exclusively for residential purposes, be occupied in whole or in part by the owners and constitute the legal residence of the owners.
[Amended 2-15-1990 by Ord. No. 1-1990; 4-18-1991 by L.L. No. 1-1991]
Any person otherwise qualifying for a partial exemption from taxation under § 467 of the Real Property Tax Law shall not be denied the exemption under that section if he becomes 65 years of age after the appropriate taxable status date and before December 31 of the same year.