The provisions of § 467 of the Real
Property Tax Law of the State of New York shall be effective and shall
apply to real property located in the Town of Ontario.
All applicable provisions of § 467
of the Real Property Tax Law of the State of New York, including all
subdivisions, together with any and all appropriate amendments to
that law, are hereby approved and adopted as and for the law and procedures
of the Town of Ontario except where provisions of this article or
any other local law or ordinance of the Town of Ontario shall prescribe
differently. In such event, compliance with the provisions of such
local law or ordinance shall constitute proper compliance with this
article.
[Amended 11-21-2022 by L.L. No. 4-2022; 1-9-2023 by L.L. No. 1-2023]
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, Subdivision 1(a), of the Real Property
Tax Law shall be exempt from taxation by any municipal corporation
in which located, based upon the following graduated scale, with the
maximum of 50% of the assessed valuation for persons whose combined
incomes total less than or equal to $41,601, up to a minimum of 5%
of the assessed valuation for persons whose combined incomes total
less than or equal to $50,000.99. For the purposes of this section,
"siblings" shall mean a brother or a sister, whether related through
half-blood, whole blood, or adoption:
Annual Income Range
|
Exemption Percentage
|
---|
$41,601 or less
|
50%
|
$41,601 to $42,600.99
|
45%
|
$42,601 to $43,600.99
|
40%
|
$43,601 to $44,600.99
|
35%
|
$44,601 to $45,500.99
|
30%
|
$45,501 to $46,400.99
|
25%
|
$46,401 to $47,300.99
|
20%
|
$47,301 to $48,200.99
|
15%
|
$48,201 to $49,100.99
|
10%
|
$49,101 to $50,000.99
|
5%
|
$50,001 or more
|
Not eligible
|