[Adopted 11-12-1986 by L.L. No. 6-1986 (Ch. 57, Art. I, of the 1978 Code)]
[Amended 2-8-1989 by L.L. No. 1-1989; 2-27-1995]
Real property owned by one or more persons,
each of whom is 65 years of age or over, or real property owned by
husband and wife, one of whom is 65 years of age or over, shall be
exempt from taxation by the Village of Millerton to the extent of
50% of the assessed valuation thereof, provided that the income of
the owner or the combined income of the owners of the property does
not exceed the sum of $17,500 pursuant to the terms and conditions
of § 467 of the Real Property Tax Law.
[Amended 2-8-1989 by L.L. No. 1-1989; 12-13-1989; 2-13-1991; 2-27-1995]
A.
Real property owned by one or more persons, each of whom is 65 years
of age or over, or real property owned by husband and wife one of
whom is 65 years of age or over, shall be exempt from taxation by
the Village of Millerton in an amount corresponding to the following
maximum annual income range and exemption percentages:
[Amended 2-17-2009 by L.L. No. 3-2009; 10-18-2010 by L.L. No.
2-2010]
|
Maximum Annual Income Range
|
Percentage of Exemption
| |
|---|---|---|
|
Less than $29,000
|
50%
| |
|
Between $29,000 and $30,000
|
45%
| |
|
Between $30,000 and $31,000
|
40%
| |
|
Between $31,000 and $32,000
|
35%
| |
|
Between $32,000 and $32,900
|
30%
| |
|
Between $32,900 and $33,800
|
25%
| |
|
Between $33,800 and $34,700
|
20%
| |
|
Between $34,700 and $35,600
|
15%
| |
|
Between $35,600 and $36,500
|
10%
| |
|
Between $36,500 and $37,400
|
5%
| |
|
$37,400 or more
|
No exemption
|
B.
The Board hereby provides that any individual, otherwise
qualified pursuant to the provisions of § 467 of the Real
Property Tax Law is eligible for the exemption if s/he becomes 65
years of age after the appropriate taxable status date and before
December 31 of the same year.
Application shall be made as provided in § 467
of the Real Property Tax Law.
