[Amended 6-18-1993]
Real property owned by one (1) or more persons,
each of whom is sixty-five (65) years of age or over, or real property
owned by husband and wife, one (1) of whom is sixty-five (65) years
of age or over, previously exempt from taxation pursuant to § 467
of the Real Property Tax Law of the State of New York and Village
Local Law No. 8-1981, shall be exempt from taxation commencing June 1, 1986,
pursuant to the provisions of § 467-d of said Real Property
Tax Law to the extent set forth in the following table based on
the maximum annual income of the owner(s), as that term is defined
in the Real Property Tax Law.
Income Level
|
Percentage of Assessed
Valuation Exempt From Taxation
|
---|
$15,000 and under
|
50
|
$15,001 to $15,600
|
45
|
$15,601 to $16,200
|
40
|
$16,201 to $16,800
|
35
|
$16,801 to $17,400
|
30
|
$17,401 to $18,000
|
25
|
$18,001 to $18,600
|
20
|
$18,601 to $19,200
|
15
|
$19,201 to $19,800
|
10
|