[Adopted 1-7-1999 by L.L. No. 1-1999]
This article shall be known as the "Senior Citizens
Medical Expenses Tax Credit on Real Property."
This article is enacted pursuant to Article
2 of the Municipal Home Rule Law of the State of New York.
The purpose of this article is to provide a
medical expenses tax credit on real property owned by senior citizens
by excluding certain expenditures for medical care from the definition
of "income."
The provisions of Real Property Tax Law § 467,
Subdivision 3(a), shall exclude medical and prescription drug expenses
actually paid but which were not reimbursed or paid by insurance from
the computation of a senior citizen's income to determine what percentage
of assessed valuation is exempt from the town's real property taxes.
This article shall be applied to assessment
rolls prepared on the basis of a taxable status date of March 1, 1999,
and thereafter.
