[Adopted 7-15-2002 by L.L. No. 6-2002]
This article is adopted pursuant to the authority
granted by New York State 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 of up to 50% of the assessed valuation to the extent
permitted by New York State Real Property Tax Law § 459-c.
[Amended 4-28-2003 by L.L. No. 2-2003]
To be eligible for the exemption authorized
by Real Property Tax Law § 459-c and implemented by this
article, the maximum income of such person shall not exceed that amount
established or hereafter amended by resolution of the Village of Fayetteville
Board of Trustees. Such maximum income level shall be within the range
established by Real Property Tax Law § 459-c, including
amendments thereto. If authorized by resolution of the Village of
Fayetteville Board of Trustees, which resolution may be repealed,
any such person having a higher income shall be eligible for an exemption
in accordance with the following schedule:
|
M = maximum income limit as established pursuant
to the preceding paragraph.
|
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
|---|---|
|
More than (M) but less than (M+$1,000)
|
45%
|
|
(M+$ 1,000 or more) but less than (M+$2,000)
|
40%
|
|
(M+$2,000 or more) but less than (M+$3,000)
|
35%
|
|
(M+$3,000 or more) but less than (M+$3,900)
|
30%
|
|
(M+$3,900 or more) but less than (M+$4,800)
|
25%
|
|
(M+$4,800 or more) but less than (M+$5,700)
|
20%
|
|
(M+$5,700 or more) but less than (M+$6,600)
|
15%
|
|
(M+$6,600 or more) but less than (M+$7,500)
|
10%
|
|
(M+$7,500 or more) but less than (M+$8,400)
|
5%
|
