[Adopted 5-13-1996 by L.L. No. 1-1996]
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.
The maximum income level for exemption shall be as set forth in the table below:
Annual Income
Percentage of Assessed
Valuation Exempt From Taxation
$0 to $16,499
50%
$16,500 to 17,499
45%
$17,500 to $18,499
40%
$18,500 to $19,499
35%
$19,500 to $20,399
30%
$20,400 to $21,299
25%
$21,300 to $22,199
20%
$22,200 to $23,099
15%
$23,100 to $23,999
10%