[Adopted 2-1-1999 by L.L.
No. 2-1999 (Ch. 45A of the 1973 Code)]
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]
All real property in the Village of Walton meeting the application,
ownership, residency, income and use requirements of § 459-c
of the Real Property Tax Law shall receive an exemption equal to 50%
of the property's assessed value. The maximum income (M) for purposes
of the 50% exemption shall equal $29,000. The Village Board of Trustees
of Walton may alter the income maximum in the future by enactment
of a resolution providing for such change.
Any exemption provided by this chapter shall be computed after all other partial exemptions have been subtracted from the total assessed value. No parcel may receive an exemption pursuant to this Article IV, Exemption for Disabled Persons With Limited Income, and Article II, Senior Citizens Exemption, of this article of the Code of the Village of Walton (regarding aged persons with limited income).
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]
Application for such exemption must be made annually by the
owner or all of the owners of the property, on application forms prescribed
by the New York Commissioner of Taxation and Finance, and filed in
the Assessor's office on or before March 1 of each year; provided,
however, that proof of a permanent disability need be submitted only
in the year this exemption is first sought or the disability is first
determined permanent. At least 60 days prior to the taxable status
date, the Assessor shall annually mail to all exemption recipients
listed on the latest completed assessment roll an application form
and a notice that such application must be filed on or before the
taxable status date.
The computation of income pursuant to § 228-25 of this article shall exclude all medical and prescription expenses which are not reimbursed or paid by insurance.
This chapter shall take effect immediately and shall apply to
assessment rolls prepared on the basis of taxable status dates occurring
on or after March 1, 1999.
