[Adopted 10-13-1977 by L.L. No. 3-1977; amended in its entirety 2-13-1980 by L.L. No. 1-1980]
[Amended 2-28-1990 by L.L. No. 2-1990]
A.
Real property owned by one or more persons, each of
whom is 65 years of age or over at the time of the filing of the application
or each of whom will turn 65 on or before December 31 of the applicable
taxable year, or real property owned by husband and wife, one of whom
is 65 years of age at the time of filing application or who will turn
65 on or before December 31 of the applicable taxable year, shall
be exempt from taxation in the Town of Lloyd to the extent and under
the conditions and requirements set forth in the Real Property Tax
Law, § 467, Subdivisions 1 through 6, and any and all amendments
thereof or successors thereto, which hereby are incorporated by reference
as fully as if set forth herein.
B.
The Assessor for the Town of Lloyd is directed to
offset the income of the senior citizen filing for this exemption
by all medical and prescription drug expenses actually paid which
were not reimbursed or paid for by insurance in making the determination
for income eligibility under this provision.
[Added 12-18-1996 by L.L. No. 5-1996]
[Amended 2-11-1981 by L.L. No. 1-1981; 12-15-1982 by L.L. No. 8-1982; 12-14-1983 by L.L. No. 9-1983; 9-21-1988 by L.L. No. 7-1988; 12-6-1989 by L.L. No. 8-1989; 3-13-1991 by L.L. No. 2-1991; 2-12-1992 by L.L. No. 1-1992; 2-10-1993 by L.L. No. 1-1993; 2-8-1995 by L.L. No. 1-1995; 3-13-1996 by L.L. No. 1-1996; 12-18-1996 by L.L. No. 5-1996; 1-13-1999 by L.L. No. 1-1999; 5-14-2003 by L.L. No. 3-2003; 12-8-2004 by L.L. No.
5-2004; 1-10-2007 by L.L. No. 1-2007]
No exemption shall be granted if the income
or combined incomes of the owners of the property for the income tax
year immediately preceding the date of making the application for
exemption exceeds the following income ranges, and the Assessor of
the Town of Lloyd is directed to utilize the amounts set forth herein
as the maximum amounts for a full fifty-percent exemption, and lesser
percentages, as set forth in Real Property Tax Law § 467.
The maximum exemption based on income shall be as set forth herein.
The percentages of exemption shall be based on the maximum annual
income ranges for the calendar years, which are as follows:
|
2007 Income Range
|
Percentage of Exemption
|
|---|---|
|
$0.00 to $27,000.00
|
50%
|
|
$27,000.01 to $27,999.99
|
45%
|
|
$28,000.00 to $28,999.99
|
40%
|
|
$29,000.00 to $29,999.99
|
35%
|
|
$30,000.00 to $30,899.99
|
30%
|
|
$30,900.00 to $31,799.99
|
25%
|
|
$31,800.00 to $32,699.99
|
20%
|
|
$32,700.00 to $33,599.99
|
15%
|
|
$33,600.00 to $34,499.99
|
10%
|
|
$34,500.00 to $35,399.99
|
5%
|
|
$34,400.00 and over
|
0%
|
|
2008 Income Range
|
Percentage of Exemption
|
|---|---|
|
$0.00 to $28,000.00
|
50%
|
|
$28,000.01 to $28,999.99
|
45%
|
|
$29,000.00 to $29,999.99
|
40%
|
|
$30,000.00 to $30,999.99
|
35%
|
|
$31,000.00 to $31,899.99
|
30%
|
|
$31,900.00 to $32,799.99
|
25%
|
|
$32,800.00 to $33,699.99
|
20%
|
|
$33,700.00 to $34,599.99
|
15%
|
|
$34,600.00 to $35,499.99
|
10%
|
|
$35,500.00 to $36,399.99
|
5%
|
|
$36,400.00 and over
|
0%
|
|
2009 Income Range
|
Percentage of Exemption
|
|---|---|
|
$0.00 to $29,000.00
|
50%
|
|
$29,000.01 to $29,999.99
|
45%
|
|
$30,000.00 to $30,999.99
|
40%
|
|
$31,000.00 to $31,999.99
|
35%
|
|
$32,000.00 to $32,899.99
|
30%
|
|
$32,900.00 to $33,799.99
|
25%
|
|
$33,800.00 to $34,699.99
|
20%
|
|
$34,700.00 to $35,599.99
|
15%
|
|
$35,600.00 to $36,499.99
|
10%
|
|
$36,500.00 to $37,399.99
|
5%
|
|
$37,400.00 and over
|
0%
|
Any person who makes any willful false statement
in the application for exemption pursuant to this article and the
Real Property Tax Law § 467 and who is convicted of having
made such false statement shall be punished as set forth in the Real
Property Tax Law § 467, Subdivision 7, which is hereby incorporated
by reference as fully as if set forth herein.
