[Adopted 12-10-1985 by L.L. No. 4-1985]
[Amended 9-13-1989 by L.L. No. 1-1989]
Subject to the conditions, provisions and limitations
contained in § 467 of the Real Property Tax Law of the State
of New York, real property located in the village which is owned and
occupied as a residence by one or more persons 65 years of age or
over, or real property owned and occupied as a residence by a husband
and wife, one of whom is 65 years of age or over, and whose income
or, if more than one owner, whose combined income, as defined in § 469
of the Real Property Tax Law, does not exceed $12,025 a year shall
be exempt from taxation by the village to the extent of 50% of the
assessed valuation thereof.
