[Adopted 9-22-1966 (Ch. 154, Art. II, of the 1991 Code)]
A. 
The City of Fulton hereby exempts from taxation 50% of the assessed valuation of the premises belonging to senior citizens in the City of Fulton who qualify for said exemption pursuant to § 467 of the Real Property Tax Law of the State of New York.
B. 
Pursuant to § 467, Subdivision 1(b), of the Real Property Tax Law, entitled "Persons 65 years of age or over," which states "Any local law, ordinance or resolution adopted pursuant to paragraph (a) of this subdivision may be amended, or a local law, ordinance or resolution may be adopted, to provide an exemption so as to increase the maximum income eligibility level of such municipal corporation as provided in subdivision three of this section, to the extent provided in the following schedule," the schedule of income eligibility shall be as follows:
[Added 4-16-1974; amended 2-8-1987; 9-19-1989; 2-6-1990; 1-3-1995; 9-3-1996; 11-15-2022 by L.L. No. 14-2022]
Percentage of Assessed Valuation
Annual Income
Exempt From Taxation
$29,000 or less
50%
More than $29,000 but less than $30,000
45%
More than $29,999 but less than $31,000
40%
More than $30,999 but less than $32,000
35%
More than $31,999 but less than $32,900
30%
More than $32,899 but less than $33,800
25%
More than $33,799 but less than $34,700
20%
More than $34,699 but less than $35,600
15%
More than $35,599 but less than $36,500
10%
More than $36,499 but less than $37,400
5%
More than $37,399
0%
[Added 2-6-1990]
Pursuant to Chapter 287 of the Laws of 1989, which amends Subdivision 5 of the Real Property Tax Law, effective January 1, 1990, senior citizen exemptions will be granted to otherwise eligible senior citizens who become 65 after the taxable status date but before December 31 of each calendar year; provided, however, that the applicant files his or her application for the exemption on or before the taxable status date of each year.