[Adopted 4-11-2000 by L.L. No. 1-2000]
This article is enacted to provide a partial
exemption from real property taxation pursuant to § 459-c
of the Real Property Tax Law to persons with disabilities who have
limited incomes.
To be eligible for this exemption provided by
this article, the maximum income of such person shall not exceed $19,500.
Real property owned by one or more persons with disabilities, or real
property owned by a husband and wife, or both, by siblings, at least
one of whom has a disability, and whose income, as hereinafter defined,
is limited by reason of such disability, shall be exempt from taxation
by the Town of Wales to the extent provided in the following table:
|
Annual Income
|
Percentage of Assessed Valuation Exempt
from Taxation
|
|---|---|
|
Up to $19,500
|
50%
|
|
More than $19,500 but less than $20,000
|
45%
|
|
$20,500 or more, but less than $21,500
|
40%
|
|
$21,500 or more, but less than $22,500
|
35%
|
|
$22,500 or more, but less than $23,400
|
30%
|
|
$23,400 or more, but less than $24,300
|
25%
|
|
$24,300 or more, but less than $25,200
|
20%
|
|
$25,200 or more, but less than $26,100
|
15%
|
|
$26,100 or more, but less than $27,000
|
10%
|
|
$27,000 or more, but less than $27,900
|
5%
|
