[Adopted 4-17-2001 by L.L. No. 2-2001]
Real property in the City of Saratoga Springs owned by one or
more persons with disabilities, or real property owned by a husband
or wife, or both, or by siblings, at least one of whom has a disability,
and whose income, as hereafter defined, is limited by reason of such
disability, shall be exempt from taxation by the City of Saratoga
Springs to the extent of 50% of the assessed valuation thereof; provided,
however, that eligibility for such exemption shall be determined in
accordance with the provisions of § 459-c of the New York
Real Property Tax Law.
[Amended 2-28-2007 by L.L. No. 2-2007]
For the purpose of determining eligibility under § 459-c
of the Real Property Tax Law, the income of the owner or the combined
income of the owners of the property for the income tax year immediately
preceding the date of making application for exemption shall be as
follows:
|
Income
|
Tax Exemption
|
|---|---|
|
Up to and including $24,000
|
50%
|
|
More than $24,000 but less than $25,000
|
45%
|
|
$25,000 or more but less than $26,000
|
40%
|
|
$26,000 or more but less than $27,000
|
35%
|
|
$27,000 or more but less than $27,900
|
30%
|
|
$27,900 or more but less than $28,800
|
25%
|
|
$28,800 or more but less than $29,700
|
20%
|
|
$29,700 or more but less than $30,600
|
15%
|
|
$30,600 or more but less than $31,500
|
10%
|
|
$31,500 or more but less than $32,400
|
5%
|
