[Adopted 4-12-1983; amended in its entirety 12-23-1997 by L.L. No. 5-1997]
A partial exemption from taxation to the extent
of 50% of the assessed valuation of real property which is owned by
certain persons with limited income who are 65 years of age or older
meeting the requirements of § 467 of the Real Property Tax
Law is hereby granted.
[Amended 12-26-2019 by L.L. No. 6-2019]
The maximum income level for the fifty-percent
exemption is established as follows:
Annual Income
|
Percentage Assessed Valuation Exemption
From Taxation
|
---|
$15,500 or less
|
50%
|
$15,501 to $16,500
|
45%
|
$16, 501 to $17,500
|
40%
|
$17,501 to $18,500
|
35%
|
$18,501 to $19,400
|
30%
|
$19,401 to $20,300
|
25%
|
$20,301 to $21,200
|
20%
|
$21,201 to more
|
0%
|
[Adopted 1-2-1985 by L.L. No. 1-1985]
The purpose of this article is to provide that
no exemption from real property taxes shall be granted pursuant to
§ 458-a of the Real Property Tax Law of the State of New
York.
Pursuant to the provisions of Subdivision 4
of § 458-a of the Real Property Tax Law of the State of
New York, no exemption from property taxes shall be granted pursuant
to § 458-a of the Real Property Tax Law for purposes of
real property taxes levied for the Town of Geneva.