[Adopted 2-19-1986 by L.L.
No. 1-1986]
[Amended 12-5-1996 by L.L.
No. 2-1996]
A partial exemption from taxation to the extent of fifty percent (50%)
of the assessed valuation of real property which is owned by certain persons
with limited income who are sixty-five (65) years of age or older, meeting
the requirements set forth in § 467 of the Real Property Tax Law,
is hereby granted.
[Amended 2-20-1992; 3-1-1996; 12-5-1996 by L.L. No. 2-1996; 2-13-2003
by L.L. No. 2-2003]
A.
Real property owned by persons 65 years of age or over
shall be exempt from Town tax on a decreasing percentage basis.
B.
The income of the owner or the combined income of the
owners must not exceed $20,700 for the 12 consecutive months prior to the
date that the application is filed. Where title is vested in either the husband
or wife, the combined income may not exceed such sum.
C.
Real property owned by persons 65 years of age or over shall be exempt from Town taxes in accordance with the same conditions set forth in Subsections A and B of this section on a decreasing percentage basis pursuant to the following schedule:
|
Annual Income
|
Percentage of Exemption
| |
|---|---|---|
|
Less than $15,001
|
50%
| |
|
$15,001 but less than $16,000
|
45%
| |
|
$16,001 but less than $17,000
|
40%
| |
|
$17,001 but less than $18,000
|
35%
| |
|
$18,001 but less than $18,900
|
30%
| |
|
$18,901 but less than $19,800
|
25%
| |
|
$19,801 but less than $20,700
|
20%
|
[Added 4-6-1989 by L.L. No.
2-1989]
A.
The Assessors of the Town of Corinth are hereby authorized
to accept applications for renewal of exemptions relating to persons sixty-five
(65) years of age or over, pursuant to § 467 of the Real Property
Tax Law, after the taxable status date.
B.
In the event that the owner of property which has received
an exemption pursuant to said section on the preceding assessment roll fails
to file the application required pursuant to said section on or before the
taxable status date, such owner may file the application, executed as if such
application had been filed on or before the taxable status date, with the
Assessor on or before the date for the hearing of complaints.
