[Adopted 3-12-1984 by L.L. No. 2-1984; amended in its entirety 2-13-2001 by L.L. No.
4-2001 (Ch 67, Art. I, of the 1978 Code)]
Subject to and in accordance with the provisions of § 467 of the New York State Real Property Tax Law (RPTL), real property owned by one or more persons, each of whom is 65 years of age or over, or real property owned by husband and wife or by siblings, one of whom is 65 years of age or over, shall be exempt from taxation by the Town to the extent provided in § 224-2 of this article. For the purpose of this section, "sibling" shall mean a brother or a sister, whether related through half blood, whole blood or adoption. This exemption applies to assessment rolls based on taxable status dates occurring on and after January 1, 2001.
[Amended 1-13-2003 by L.L. No. 1-2003; 1-12-2004 by L.L. No.
1-2004; 12-11-2006 by L.L. No. 8-2006; 2-11-2008 by L.L. No.
4-2008; 10-20-2008 by L.L. No. 8-2008; 12-14-2009 by L.L. No.
4-2009]
The exemption granted pursuant to § 224-1 of this article shall be based upon the combined annual income of all of the owners of the real property and computed as set forth in the following table:
|
Annual Income
|
Assessed Valuation Exempt From Taxation
(percent)
| |
|---|---|---|
|
Up to $29,000
|
50%
| |
|
More than $29,000 but less than $30,000
|
45%
| |
|
More than $30,000 but less than $31,000
|
40%
| |
|
More than $31,000 but less than $32,000
|
35%
| |
|
More than $32,000 but less than $32,900
|
30%
| |
|
More than $32,900 but less than $33,800
|
25%
| |
|
More than $33,800 but less than $34,700
|
20%
| |
|
More than $34,700 but less than $35,600
|
15%
| |
|
More than $35,600 but less than $36,500
|
10%
| |
|
More than $36,500 but less than $37,400
|
5%
| |
|
More than $37,400
|
0%
|
