[Adopted 11-7-1977; amended in its entirety at time of
adoption of Code (see Ch. 1, General Provisions, Art. I)]
A partial exemption from taxation to the extent
of 50% of the assessed valuation of real property which is owned by
certain persons with limited income who are 65 years of age or older
meeting the requirements set forth in § 467 of the Real
Property Tax Law is hereby granted.
[Amended 2-3-2014 by L.L. No. 2-2014[1] ]
For purposes of the exemption granted to senior citizens pursuant
to this article, real property within the Village of Cazenovia shall
be exempt from taxation for real estate taxes to be levied by the
Village of Cazenovia for the year 2014 and thereafter by the percentage
of exemption specified for the annual income ranges listed below:
|
Annual Income Ranges
|
Exemption Percentage
|
|---|---|
|
$24,000 or less
|
50%
|
|
More than $24,000 but less than $25,000
|
45%
|
|
More than $25,000 but less than $26,000
|
40%
|
|
More than $26,000 but less than $27,000
|
35%
|
|
More than $27,000 but less than $27,900
|
30%
|
|
More than $27,900 but less than $28,800
|
25%
|
|
More than $28,800 but less than $29,700
|
20%
|
|
More than $29,700 but less than $30,600
|
15%
|
|
More than $30,600 but less than $32,000
|
10%
|
[1]
Editor's Note: This local law also provided that it would
apply to taxation of real property within and by the Village of Cazenovia
based upon assessment and tax rolls prepared after 1-1-2014.
