This article is adopted pursuant to authority of the Real Property
Tax Law § 459-c. All definitions, terms, and conditions
of such statute shall apply to this article.
The purpose of this article is to exempt from real property
taxes property owned by persons with disabilities and limited incomes,
as authorized by § 459-c of the Real Property Tax Law.
Pursuant to § 459-c of the Real Property Tax Law,
persons with disabilities who are owners of real property used exclusively
for residential purposes 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, which does not exceed a maximum income limit
of $27,500.
In addition, the provisions of Real Property Tax Law § 459-c, Paragraph 1(b), known as the "sliding scale" option, be and are hereby adopted with regard to the senior disabled persons with limited incomes exemption as follows, where "M" is the maximum income limit provided in § 159-11 above:
|
Annual Income
|
Percentage Assessed Valuation Exempt From Taxation
|
|---|---|
|
More than (M) but less than (M + $1,000)
|
45%
|
|
(M + $1,000 or more) but less than (M + $2,000)
|
40%
|
|
(M + $2,000 or more) but less than (M + $3,000)
|
35%
|
|
(M + $3,000 or more) but less than (M + $3,900)
|
30%
|
|
(M + $3,900 or more) but less than (M + $4,800)
|
25%
|
|
(M + $4,800 or more) but less than (M + $5,700)
|
20%
|
|
(M + $5,700 or more) but less than (M + $6,600)
|
15%
|
|
(M + $6,600 or more) but less than (M + $7,500)
|
10%
|
|
(M + $7,500 or more) but less than (M + $8,400)
|
5%
|
