[Adopted 3-18-1998 by L.L. No. 3-1998]
This article is adopted pursuant to the authority of Real Property Tax Law § 459-c. All definitions, terms and conditions of such statute shall apply to this article.
Real property owned by a person with disabilities whose income is limited by such disabilities, and used as the legal residence of such person, shall be entitled to a partial exemption from taxation to the extent of 50% of assessed valuation.
To be eligible for the maximum exemption of 50% of assessed valuation authorized by § 459-c and implemented by this article, the maximum income of such person shall not exceed $14,999. Any such person having a higher income shall be eligible for exemption in accordance with the schedule set forth in Table 1 below:
Table 1
Annual Income
Percentage Assessed Valuation Exempt from Taxation
$0 to $14,999
50%
$15,000 to $15,999
45%
$16,000 to $16,999
40%
$17,000 to $17,999
35%
$18,000 to $18,899
30%
$18,900 to $19,799
25%
$19,800 to $20,699
20%
$20,700 to $21,599
15%
$21,600 to $22,499
10%