This article is adopted pursuant to § 467 of the Real Property Tax Law. All terms, definitions, and conditions of such statute shall apply to this article.
The purpose of this article is to exempt real property taxes owned by persons classified as senior citizens, as authorized by § 467 of the Real Property Tax Law.
Pursuant to § 467 of the Real Property Tax Law, persons 65 years of age or over who are owners of real property shall be exempt from Town taxes to the extent of 50% of the assessed valuation if said owners fulfill certain qualifications, including a limited income of the owner, or the combined income of owners of real property who are 65 years of age or over, which does not exceed a maximum income limit of $27,500.
In addition, the provisions of Real Property Tax Law § 467, Paragraphs 1(b)(1), 1(b)(2), and 1(b)(3), known as the "sliding scale" option, be and are hereby adopted with regard to the senior citizen tax exemption as follows, where "M" is the maximum income limit provided in § 159-6 above:
Pursuant to § 467(5-a) of the Real Property Tax Law, an application for exemption may be accepted by the assessor after the taxable status date, but not later than the last date on which complaints of assessment may be filed, where failure to file a timely application resulted from: