[Adopted 12-27-1966; amended in its entirety 5-8-1989 by L.L. No. 1-1989 (Ch. 106, Art. I of the 1971 Code)]
[Amended 4-9-1990 by L.L. No. 3-1990; 2-25-1991 by L.L. No. 1-1991; 4-13-1992 by L.L. No. 1-1992; 4-12-1993 by L.L. No. 2-1993; 2-27-1995 by L.L. No. 1-1995; 4-23-2007 by L.L. No. 1-2007]
The purpose of this article is to grant a partial exemption from taxation, to the extent as shown in a sliding scale in § 430-17, of 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 as set forth in § 467 of the Real Property Tax Law.
[Amended 4-9-1990 by L.L. No. 3-1990; 4-13-1992 by L.L. No. 1-1992]
Real property owned by persons 65 years of age or over shall be exempt from City taxes to the extent of the following sliding scale and subject to the following conditions:
A. 
The owner or all of the owners must file an application annually in the Assessor's office of the City of Middletown, New York, in which such real property is located, at least 90 days before the day for filing the final assessment roll, or such time as may be hereafter fixed by law.
B. 
Income limits.
[Amended 2-25-1991 by L.L. No. 1-1991; 4-13-1992 by L.L. No. 1-1992; 4-12-1993 by L.L. No. 2-1993; 2-27-1995 by L.L. No. 1-1995]
(1) 
The income of the owner or the combined incomes of the owners must not exceed the following for the calendar tax year immediately preceding the date that the application is filed:
Annual Income
Percentage Assessed Valuation Exempt From Taxation
$0 to $17,500
50%
$17,501 to $18,500
45%
$18,501 to $19,500
40%
$19,501 to $20,500
35%
$20,501 to $21,400
30%
$21,401 to $22,300
25%
$22,301 to $23,200
20%
$23,201 to $24,100
15%
$24,101 to $24,999
10%
(2) 
Where the title is vested in either the husband or wife, the combined income may not exceed each sum. Such income shall include social security and retirement benefits, interest, dividends, rental income, salary or earnings and income from self-employment, but shall not include gifts or inheritance.
C. 
Title to the property must be vested in the owner's or, if more than one, in all the owners' names for at least 12 consecutive months prior to the date that the application is filed.
[Amended 2-25-1991 by L.L. No. 1-1991; 4-13-1992 by L.L. No. 1-1992; 4-12-1993 by L.L. No. 2-1993; 2-27-1995 by L.L. No. 1-1995; 4-23-2007 by L.L. No. 1-2007]
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.
[Amended 4-13-1992 by L.L. No. 1-1992; 4-12-1993 by L.L. No. 2-1993; 2-27-1995 by L.L. No. 1-1995]
This article shall take effect with the 1995 - 1996 roll.