[Adopted 1-27-1998 by L.L. No. 2-1998
(Ch. 31A of the 1969 Code)]
This article is adopted pursuant to authority
of Real Property Tax Law § 459-c; and Chapter 315 of the
Laws of 1997. All definitions, terms and conditions of such statute
shall apply to this article. This article shall be known as the "Farmington
Partial Exemption From Taxation on Certain Real Property Owned by
Persons with Disabilities."
Real property owned by persons 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 exemption authorized
by such § 459-c and implemented by this article, the maximum
income of such person shall not exceed $18,500 to qualify for the
fifty-percent exemption. Eligibility increments are as follows:
|
Annual Income
|
Percentage of Assessed Annual Exempt From
Taxation
|
|---|---|
|
More than $18,500, but less than $19,500
|
45%
|
|
$19,500 or more, but less than $20,500
|
40%
|
|
$20,500 or more, but less than $21,500
|
35%
|
|
$21,500 or more, but less than $22,400
|
30%
|
|
$22,400 or more, but less than $23,300
|
25%
|
|
$23,300 or more, but less than $24,200
|
20%
|
|
$24,200 or more, but less than $25,100
|
15%
|
|
$25,100 or more, but less than $26,000
|
10%
|
|
$26,000 or more, but less than $26,900
|
5%
|
Such income shall be offset by medical and prescription
drug expenses actually paid which were not reimbursed or which were
not paid for by insurance.
