[Adopted 2-27-1989 by L.L. No. 2-1989;
amended in its entirety 2-26-1997 by L.L. No. 2-1997]
[Amended 11-18-1998 by L.L. No. 3-1998]
Pursuant to the authority vested in it by Real
Property Tax Law § 467, the Village of LeRoy does adopt
an over age 65 sliding scale tax exemption with an income ceiling
of $14,000, effective the first eligible taxable status date.
[Amended 2-23-2003 by L.L. No. 2-2003]
The sliding scale exemption shall be as follows:
|
Annual Income
|
Percentage Assessed Valuation Exemption
From Taxation
|
|---|---|
|
Less than $16,500
|
50%
|
|
Equal or more than $16,500 but less than $17,500
|
45%
|
|
Equal or more than $17,500 but less than $18,500
|
40%
|
|
Equal or more than $18,500 but less than $19,500
|
35%
|
|
Equal or more than $19,500 but less than $20,400
|
30%
|
|
Equal or more than $20,400 but less than $21,300
|
25%
|
|
Equal or more than $21,300 but less than $22,200
|
20%
|
|
Equal or more than $22,200 but less than $23,100
|
15%
|
|
Equal or more than $23,100 but less than $24,000
|
10%
|
|
Equal or more than $24,000 but less than $24,900
|
5%
|
