[Adopted 2-8-1967; amended in its entirety 6-13-1996 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.
[Amended 12-11-2003 by L.L. No. 2-2003; 2-22-2008 by L.L. No. 1-2008]
A.
2008 property tax roll. With regard to the 2008 property
tax roll, beginning on July 1, 2007, the maximum income level for
the fifty-percent exemption for senior citizens is established at
$27,000, and the following partial exemptions are established for
persons with income greater than $27,000 but less than $35,400:
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
|---|---|
|
More than $27,000.00
but less than $27,999.99
|
45%
|
|
More than $28,000.00
but less than $28,999.99
|
40%
|
|
More than $29,000.00
but less than $29,999.99
|
35%
|
|
More than $30,000.00
but less than $30,899.99
|
30%
|
|
More than $30,900.00
but less than $31,799.99
|
25%
|
|
More than $31,800.00
but less than $32,699.99
|
20%
|
|
More than $32,700.00
but less than $ 33,599.99
|
15%
|
|
More than $33,600.00
but less than $34,499.99
|
10%
|
|
More than $34,500.00
but less than $35,399.99
|
5%
|
B.
2009 property tax roll. With regard to the 2009 property
tax roll, beginning on July 1, 2008, the maximum income level for
the fifty-percent exemption for senior citizens is established at
$28,000, and the following partial exemptions are established for
persons with income greater than $28,000 but less than $36,400:
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
|---|---|
|
More than $28,000.00
but less than $28,999.99
|
45%
|
|
More than $29,000.00
but less than $29,999.99
|
40%
|
|
More than $30,000.00
but less than $30,999.99
|
35%
|
|
More than $31,000.00
but less than $31,899.99
|
30%
|
|
More than $31,900.00
but less than $32,799.99
|
25%
|
|
More than $32,800.00
but less than $33,699.99
|
20%
|
|
More than $33,700.00
but less than $34,599.99
|
15%
|
|
More than $34,600.00
but less than $35,499.99
|
10%
|
|
More than $35,500.00
but less than $36,399.99
|
5%
|
C.
2010 property tax roll. With regard to the 2010 property
tax roll, beginning on July 1, 2009, the maximum income level for
the fifty-percent exemption for senior citizens is established at
$29,000, and the following partial exemptions are established for
persons with income greater than $29,000 but less than $37,400:
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
|---|---|
|
More than $29,000.00
but less than $29,999.99
|
45%
|
|
More than $30,000.00
but less than $30,999.99
|
40%
|
|
More than $31,000.00
but less than $31,999.99
|
35%
|
|
More than $32,000.00
but less than $32,899.99
|
30%
|
|
More than $32,900.00
but less than $33,799.99
|
25%
|
|
More than $33,800.00
but less than $34,699.99
|
20%
|
|
More than $34,700.00
but less than $35,599.99
|
15%
|
|
More than $35,600.00
but less than $36,499.99
|
10%
|
|
More than $36,500.00
but less than $37,399.99
|
5%
|
