[Adopted 11-9-1966]
[Amended 12-19-1983]
The purpose of this article is to grant a partial exemption from taxation to the extent of 50% of the assessed valuation of real property which is owned by certain persons with limited income who are 65 years of age or over meeting the requirements set forth in § 467-d of the Real Property Tax Law.[1]
[1]
Editor's Note: Section 467-d of the Real Property Tax Law was repealed by Chapter 440 of the Laws of 1985. See now § 467.
Real property owned by persons 65 years of age or over shall be exempt from Town taxes to the extent of 50% of the assessed valuation subject to the following conditions:
A. 
The owner or all of the owners must file an application annually in the Assessor's office at least 90 days before the day for filing the final assessment roll or such other time as may be hereafter fixed by law.
B. 
Eligibility for the exemption shall be based on the income of the owner or the combined income of the owners for the 12 consecutive months prior to the date that the application is filed, as follows:
[Amended 12-13-1982; 12-19-1983; 11-10-1986; 12-27-1990; 7-8-1991 by L.L. No. 3-1991; 11-18-1991; 1-11-1993; 3-13-1995; 2-9-2009 by L.L. No. 2-2009]
Annual Income
Percentage of Assessed Valuation Exempt from Taxation
$28,000 or less
50%
$28,000.01 to $28,999.99
45%
$29,000 to $29,999.99
40%
$30,000 to $30,999.99
35%
$31,000 to $31,899.99
30%
$31,900 to $32,799.99
25%
$32,800 to $33,699.99
20%
$33,700 to $34,599.99
15%
$34,600 to $35,499.99
10%
$35,500 to $36,400.00
5%
C. 
Title to the property must be vested in the owner or, if more than one, in all the owners for at least 60 consecutive months prior to the date that the application is filed.
D. 
The property must be used exclusively for residential purposes, be occupied in whole or in part by the owners and constitute the legal residence of the owners.