[Adopted 10-15-2003 by L.L. No. 2-2003; amended in its entirety at time of adoption of Code (see Ch. 1, General Provisions, Art. I)]
A partial exemption from taxation to the extent of 50% of the assessed valuation of real property which is owned by certain persons with limited income who are 65 years of age or older meeting the requirements set forth in § 467 of the Real Property Tax Law is hereby granted.
The maximum income level for the fifty-percent exemption is established at $20,500.