[Adopted 8-10-1971 by L.L. No. 5-1971
as Ch. 101 of the 1971 Code]
As provided in § 467 of the Real Property Tax Law, real property
owned by persons 65 years of age or older meeting the requirements set forth
in said § 467 shall be exempt of 50% of the assessed valuation thereof.
[Amended 9-6-1977; 11-4-1980]
No exemption shall be granted where the income of the owner or the combined
income of the owners of the property for the income year immediately preceding
the date of making the application for exemption exceeds the sum, the current
amount of which is kept on file in the Village Clerk's office. Where
title is vested in either the husband or wife, their combined income may not
exceed such sums.
The words and terms used in this article shall have the same meaning
as the words and terms are defined in § 467 of the Real Property
Tax Law.
