[HISTORY: Adopted by the Board of Trustees of the Village of Yorkville as indicated in article histories. Amendments noted where applicable.]
[Adopted 9-26-1967 by resolution; amended in its entirety 3-2-1993 by L.L. No. 1-1993]
[Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. I)]
Pursuant to § 467 of the Real Property Tax Law, the Board of Trustees of the Village of Yorkville hereby grants a tax exemption of 50% of assessed valuation on real property located in the Village of Yorkville and owned by persons 65 years of age or over, provided that the applicant for such exemption meets all of the requirements of § 467 of the Real Property Tax Law and the income of such applicant does not exceed $10,000.
An application for such exemption shall be made on the forms provided for such purpose at the office of the Village Clerk on or before December 31 of each year.
[Adopted 5-3-1988 by L.L. No. 2-1988]
Pursuant to the authority of Subdivision 7 of § 485-b of the Real Property Tax Law, the partial exemption from taxation, special and valorem levies and service charges provided by Subdivision 2 of such § 485-b to eligible real property assessed for town purposes is hereby reduced as provided herein. The exemption granted for the first year shall be to the extent of 0%. Thereafter, for each of the next succeeding nine years, such exemption shall be 0%.