[Added 2-27-1992; amended 2-16-1995; 4-27-2000 by L.L. No. 1-2000; 2-15-2001 by Res. No. 14; 2-16-2006 by Res. No. 18; 2-21-2008 by Res. No. 16; 2-17-2011 by Res. No. 17]
Pursuant to the provisions of § 467 of the Real Property Tax Law, the maximum amount of yearly income for the fifty-percent real property tax exemption for persons 65 years of age or over shall be $29,000, and the yearly income ceilings for partial exemptions shall be as follows:
Income | Exemption |
|---|---|
$29,000 | 50% |
$29,001 to $29,999 | 45% |
$30,000 to $30,999 | 40% |
$31,000 to $31,999 | 35% |
$32,000 to $32,899 | 30% |
$32,900 to $33,799 | 25% |
$33,800 to $34,699 | 20% |
$34,700 to $35,599 | 15% |
$35,600 to $36,499 | 10% |
$36,500 to $37,399 | 5% |