This article is adopted pursuant to authority of Real Property Tax Law § 459-c. All definitions, terms and conditions of such statute shall apply to this article.
[Adopted 12-30-1998 by L.L. No. 4-1998]
Real property owned by a person with disabilities whose income is limited by such disabilities, and used as the legal residence of such person, shall be entitled to a partial exemption from taxation to the extent of 50% of assessed valuation.
[Amended 10-4-2018 by L.L. No. 6-2018]
To be eligible for exemption authorized by such § 459-c and implemented by this article, the maximum income of such person shall not exceed $29,000. Any such person having a higher income shall be eligible for exemption in accordance with the following schedule:
Annual Income | Exempt from Taxation Percentage Assessed Valuation |
|---|---|
More than $0 but less than $29,000 | 50% |
More than $29,000 but less than $30,000 | 45% |
$30,000 or more but less than $31,000 | 40% |
$31,000 or more but less than $32,000 | 35% |
$32,000 or more but less than $32,900 | 30% |
$32,900 or more but less than $33,800 | 25% |
$33,800 or more but less than $34,700 | 20% |
$34,700 or more but less than $35,600 | 15% |
$35,600 or more but less than $36,500 | 10% |
$36,500 or more but less than $37,400 | 5% |