[Adopted 10-3-1966 (Ch. 92, Art. I, of the 1983 Code); amended in its entirety
at time of adoption of Code (see Ch. 1, General Provisions, Art. I
]
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
set forth in § 467 of the Real Property Tax Law is hereby granted.
The schedule of exemptions is as follows:
|
Annual Income
|
Percentage of Assessed Valuation Exempt from Taxation
|
|---|---|
|
Up to $24,999.99
|
50
|
|
More than $24,999.99 but less than $25,999.99
|
45
|
|
$25,999.99 or more but less than $26,999.99
|
40
|
|
$26,999.99 or more but less than $27,999.99
|
35
|
|
$27,999.99 or more but less than $28,899.99
|
30
|
|
$28,899.99 or more but less than $29,799.99
|
25
|
|
$29,799.99 or more but less than $30,699.99
|
20
|
|
$30,699.99 or more but less than $31,599.99
|
15
|
|
$31,599.99 or more but less than $32,499.99
|
10
|
|
$32,499.99 or more but less than $33,399.99
|
5
|
