[Adopted 2-18-1998 by L.L. No. 3-1998]
This article is adopted pursuant to the authority
of Real Property Tax Law § 459-c. All definitions, terms
and conditions of such statute shall apply to this article.
Real property owned by a person with disabilities
whose income is limited by such disabilities, and used as the legal
residence of such person, shall be entitled to a partial exemption
from taxation to the extent of 50% of assessed valuation.
To be eligible for the exemption authorized
by such § 459-c and implemented by this article, the maximum
income of such person shall not exceed $18,500. Any such person having
a higher income shall be eligible for exemption in accordance with
the following schedule:
|
Annual Income
|
Percentage Assessed Valuation Exempt From
Taxation More than
|
|---|---|
|
$18,500 but less than $19,500
|
45%
|
|
$19,500 or more but less than $20,500
|
40%
|
|
$20,500 or more but less than $21,500
|
35%
|
|
$21,500 or more but less than $22,400
|
30%
|
|
$22,400 or more but less than $23,300
|
25%
|
|
$23,300 or more but less than $24,200
|
20%
|
|
$24,200 or more but less than $25,100
|
15%
|
|
$25,100 or more but less than $26,000
|
10%
|
|
$26,000 or more but less than $26,900
|
5%
|
