[Adopted 9-7-1976 by L.L. No. 8-1976 as Ch. 28, Art. I, of the 1969 Code]
[Amended 4-15-2003 by L.L. No. 1-2003]
Pursuant to § 467 of the Real Property Tax Law, the Town Board of the Town of Binghamton hereby grants a tax exemption of 50% of assessed valuation on real property located in the Town of Binghamton and owned by persons 65 years of age or over, provided that the applicant for such exemption meets all of the requirements of § 467 of the Real Property Tax Law and the income of such applicant does not exceed the maximum figure set forth in § 199-4.
[Added 12-17-1985 by L.L. No. 5-1985; 4-15-2003 by L.L. No. 1-2003]
Pursuant to Subdivision 8 of § 467 of the Real Property Tax Law, in the event that the owner or all of the owners of property in the Town of Binghamton, who have received an exemption pursuant to § 467 of the Real Property Tax Law on the preceding assessment roll fail to file the application required pursuant to said § 467 on or before the taxable status date, such owner or owners may file the application, executed as if such application had been filed on or before the taxable status date, with the Assessor on or before the date for the hearing of complaints.
[Added 1-9-1988 by resolution; amended 2-7-1989 by L.L. No. 3-1989; 4-3-1990 by L.L. No. 1-1990; 2-5-1991 by resolution; 2-21-1991 by L.L. No. 1-1991; 1-21-1992 by L.L. No. 1-1992; 12-20-1994 by L.L. No. 3-1994; 4-15-2003 by L.L. No. 1-2003]
A. 
Pursuant to § 467 of the Real Property Law of the State of New York and this article, the following Schedule of Partial Exemptions for Senior Citizens from Real Property Taxation shall be adopted:
Annual Income
Percentage Assessed Valuation Exempt From Taxation
Up to $14,999
50%
$15,000 but less than $16,000
45%
$16,000 but less than $17,000
40%
$17,000 but less than $18,000
35%
$18,000 but less than $18,900
30%
$18,900 but less than $19,800
25%
$19,800 but less than $20,700
20%
$20,700 but less than $21,600
15%
$21,600 but less than $22,500
10%
B. 
This schedule shall take effect for the Town's 1995 fiscal year and shall continue in effect for succeeding fiscal years until further action is taken by the Town Board. Persons shall be eligible for this exemption provided that their 65th birthday falls within the fiscal year in which they claim the exemption.