Pursuant to the amendment of the Real Property Tax Law by the
addition of a new § 459-c, real property owned by one or
more persons with disabilities and whose income is limited by reason
of such disability may be partially exempt from taxation, provided
that the Town, by local law, grants the partial exemption. Such partial
exemption shall be subject to the income limits established by § 459-c
of the Real Property Tax Law.
The persons who meet the eligibility requirements as set forth
in § 459-c of the Real Property Tax Law are entitled to
the partial tax exemption as set forth below.
[Last amended 2-21-2023 by L.L. No. 1-2023]
Pursuant to § 459-c of the Real Property Tax Law,
the percentage of the assessed valuation which is exempt from taxation
will be determined on the basis of income in accordance with the following
graduated schedule:
Effective January 1, 2024
|
---|
Annual Income of Applicant or Applicants
|
Percentage of Assessed Valuation Exempt from Taxation
|
---|
$50,000 or less
|
50%
|
More than $50,000, but less than $51,000
|
45%
|
More than $51,000, but less than $52,000
|
40%
|
More than $52,000, but less than $53,000
|
35%
|
More than $53,000, but less than $53,900
|
30%
|
More than $53,900, but less than $54,800
|
25%
|
More than $54,800, but less than $55,700
|
20%
|
More than $55,700, but less than $56,600
|
15%
|
More than $56,600, but less than $57,500
|
10%
|
More than $57,500, but less than $58,400
|
5%
|