[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%