[Adopted 3-12-2018 by L.L. No. 2-2018]
Editor’s Note: This local law also repealed former Art. I, Senior Citizens Tax Exemption, adopted 8-6-2007 by L.L. No. 2-2007.
Pursuant to § 467 of the Real Property Tax Law of the State of New York, real property owned by one or more persons, each of whom is 65 years of age or over, or real property owned by husband and wife or by siblings, one of whom is 65 years of age or over, or real property owned by one or more persons, some of whom qualify under § 467 of the Real Property Tax Law, shall be exempt from taxation by the Town of Cornwall to the extent of 50% of the assessed valuation thereof, as shown on the following graduated income scale where the income of the owner or combined income of the owners of the property for the income tax year immediately preceding the date of application for the exemption is less than the amount shown thereon. This section shall be construed and interpreted in accordance with the applicable provisions set forth in § 467 of the Real Property Tax Law of the State of New York and is in all respects governed thereby, and said law is incorporated herein by reference