The purpose of this article is to provide for
the real property tax exemption for senior citizens pursuant to § 467
of the Real Property Tax Law of the State of New York.
This article is enacted pursuant to the provisions
of Subdivision 1 of § 467 of the Real Property Tax Law of
the State of New York.
[Amended 12-28-2017 by L.L. No. 3-2017]
Pursuant to the provisions of Subdivision 1
of § 467 of the Real Property Tax Law of the State of New
York, the sliding scale provision for real property tax exemptions
for persons who are 65 years of age or over is henceforth set as follows:
Annual Income
|
Percentage Assessment Valuation Exempt
from Taxation
|
---|
Up to $24,000
|
50%
|
$24,001 to $25,000
|
45%
|
$25,001 to $26,000
|
40%
|
$26,001 to $27,000
|
35%
|
$27,001 to $27,900
|
30%
|
$27,901 to $28,800
|
25%
|
$28,801 to $29,700
|
20%
|
$29,701 to $30,600
|
15%
|
$30,601 to $31,500
|
10%
|
$31,501 to $32,400
|
5%
|