[Adopted 2-14-2001 by L.L. No. 1-2001]
The purpose of this article is to grant a partial
exemption from Town taxes to the extent of the scheduled percentage
exemption as set forth below as assessed valuation of real property
which is owned by certain persons with disabilities and limited income
meeting the requirements set forth in § 459-c of the Real
Property Tax Law.
[Amended 12-12-2012 by L.L. No. 2-2012[1]]
Real property owned by persons with disabilities shall be exempt
from Town taxes to the extent of the scheduled percentage exemption
as set forth below in accordance with § 459-c of the Real
Property Tax Law and subject to the following:
A.
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 used to compute
the percentage of exemption in accordance with the following schedule:
|
Annual Income
|
Percentage Assessed Valuation Exempt From
Taxation
| ||
|---|---|---|---|
|
$29,000 or less
|
50%
| ||
|
$29,000.01 to $29,999.99
|
45%
| ||
|
$30,000 to $30,999.99
|
40%
| ||
|
$31,000 to $31,999.99
|
35%
| ||
|
$32,000 to $32,899.99
|
30%
| ||
|
$32,900 to $33,799.99
|
25%
| ||
|
$33,800 to $34,699.99
|
20%
| ||
|
$34,700 to $35,599.99
|
15%
| ||
|
$35,600 to $36,499.99
|
10%
| ||
|
$36,500 to $37,399.99
|
5%
| ||
|
$37,400 or over
|
No exemption
|
B.
"Income tax year" shall mean the twelve-month period
for which the owner or owners filed a federal personal income tax
return or, if no such return was filed, the calendar year.
[1]
Editor's Note: This local law applies to taxable status dates
occurring on or after 1-1-2013.
