[Adopted 12-11-2002 by L.L. No. 2-2002]
The purpose of this article is to increase the
income eligibility level of persons with Social Security classified
disabilities, who are less than 65 years of age, for exemption from
real property taxes in the Town of Rush.
[Amended 2-11-2004 by L.L. No. 2-2004; 2-14-2007 by L.L. No.
1-2007; 2-13-2008 by L.L. No. 3-2008]
A.Â
An exemption shall be granted on the income of the
owner or the combined income of the owners of the property for the
income tax year immediately preceding the date of making application
for exemption and will be made according to the following schedule:
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
|---|---|
|
Less than $27,000
|
50%
|
|
$27,000 to $28,000
|
45%
|
|
$28,000 to $29,000
|
40%
|
|
$29,000 to $30,000
|
35%
|
|
$30,000 to $30,900
|
30%
|
|
$30,900 to $31,800
|
25%
|
|
$31,800 to $32,700
|
20%
|
|
$32,700 to $33,600
|
15%
|
|
$33,600 to $34,400
|
10%
|
|
$34,500 to $35,400
|
5%
|
B.Â
The eligible income levels will then increase $1,000
annually through 2009, such that in 2009 there will be a fifty-percent
exemption for incomes up to $29,000 and a graduated reduction in exemption
for incomes more than $29,000 but less than $37,400.
