[Adopted 1-3-1984 by L.L. No. 2-1984]
Real property owned by one or more persons each
of whom is 65 years of age or over shall be exempt from taxation by
the Village of Northport to the extent of 50% of the assessed valuation
thereof or such lesser per centum as is provided in the schedule hereinbelow
set forth.
[Amended 9-2-1986 by L.L. No. 9-1986; 4-7-1992 by L.L. No. 3-1992; 6-8-1993 by L.L. No. 3-1993; 4-18-1995 by L.L. No. 1-1995; 8-17-1999 by L.L. No. 12-1999; 5-17-2005 by L.L. No. 4-2005; 9-4-2012 by L.L. No. 3-2012; 9-19-2017 by L.L. No. 4-2017]
A.Â
Any such exemption shall be subject to the limitations
and conditions as provided for in § 467 of the Real Property
Tax Law; however, as provided for in the aforesaid section, the income
of the owner or combined income of the owners of the property, which
income, for the purpose of the annual income in the schedule below,
shall be offset by all medical and prescription drug expenses actually
paid which were not reimbursed or paid for by insurance, for the tax
year immediately preceding the date of making application for exemption
shall not exceed the sum of $29,000 or such sum up to and in excess
of $29,000 as is provided in the schedule below, in which case, as
indicated therein, the exemption shall be as indicated.
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
|---|---|
|
$29,000 or less
|
50%
|
|
More than $29,000 but less than $30,000
|
45%
|
|
$30,000 or more but less than $31,000
|
40%
|
|
$31,000 or more but less than $32,000
|
35%
|
|
$32,000 or more but less than $32,900
|
30%
|
|
$32,900 or more but less than $33,800
|
25%
|
|
$33,800 or more but less than $34,700
|
20%
|
|
$34,700 or more but less than $35,600
|
15%
|
|
$35,600 or more but less than $36,500
|
10%
|
|
$36,500 or more but less than $37,400
|
5%
|
B.Â
Any qualified
senior citizen who has received an exemption under § 467
of the Real Property Tax Law for five consecutive assessment rolls
does not have to reapply for said exemption as long as they submit
a sworn affidavit that they continue to be eligible for such an exemption.
