[Adopted 5-20-1998 by L.L. No. 1-1998]
This chapter is adopted pursuant to the authority
of Real Property Tax Law § 459-c, and all definitions, terms
and conditions of such statute shall apply to this chapter.
Real property, owned by a person with disabilities
whose income is limited by such disabilities, and used as the legal
residence of such persons, 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 § 459-c and implemented by this article, the maximum
income of such person shall not exceed $15,000. Any such person having
a higher income shall be eligible for exemption in accordance with
the following schedule:
|
Annual Income
|
Percentage of Valuation Exempt From Taxation
|
|---|---|
|
Up to $15,000
|
50%
|
|
$15,001 to $16,000
|
45%
|
|
$16,001 to $17,000
|
40%
|
|
$17,001 to $18,000
|
35%
|
|
$18,001 to $18,900
|
30%
|
|
$18,901 to $19,800
|
25%
|
|
$19,801 to $20,700
|
20%
|
|
$20,701 to $21,600
|
15%
|
|
$21,601 to $22,500
|
10%
|
