[Adopted 3-13-1967 by L.L. No. 1-1967]
[Amended 12-15-1987 by L.L. No. 5-1987]
The purpose of this article is to grant a partial exemption
from taxation to the extent of a maximum 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 over meeting the requirements set forth
in § 467 of the Real Property Tax Law.
Real property owned by persons 65 years of age or over shall
be exempt from County taxes to the extent of 50% of the assessed valuation
subject to the following conditions:
A.
The owner or all of the owners must file an application annually
in the Assessor's office at least 90 days before the day for filing
the final assessment roll or such other time as may be hereafter fixed
by law.
B.
The income of the owner or the combined income of the owners must
not exceed $15,001 for the 12 consecutive months prior to the date
that the application is filed. Where title is vested in either the
husband or wife, the combined income may not exceed such sum.
[Amended 3-12-1973 by L.L. No. 1-1973; 3-10-1975 by L.L. No. 1-1975; 5-5-1977 by L.L. No. 3-1977; 3-21-1977 by L.L. No. 4-1977; 3-15-1978 by L.L. No. 4-1978; 12-4-1979 by L.L. No. 8-1979; 12-30-1980 by L.L. No. 5-1980; 3-15-1983 by L.L. No. 4-1983; 1-21-1986 by L.L. No. 1-1986; 12-15-1987 by L.L. No.
5-1987][1]
C.
Title to the property must be vested in the owner or, if more than
one, in all the owners for at least 60 consecutive months prior to
the date that the application is filed.
D.
The property must be used exclusively for residential purposes, be
occupied in whole or in part by the owners, and constitute the legal
residence of the owners.
[Added 12-15-1987 by L.L. No. 5-1987; amended 2-23-1990 by L.L. No. 3-1990; 2-28-1995 by L.L. No. 2-1995; 11-15-2022 by L.L. No. 4-2022]
Real property owned by persons 65 years of age or over shall be exempt from county taxes in accordance with the same conditions set forth in § 310-8 of this article on a decreasing percentage basis pursuant to the following schedule:
|
Annual Income Less
|
Percentage Exemption
|
|---|---|
|
Less than $30,000
|
50%
|
|
$30,001 but less than $31,000
|
45%
|
|
$31,001 but less than $32,000
|
40%
|
|
$32,001 but less than $33,000
|
35%
|
|
$33,001 but less than $33,900
|
30%
|
|
$33,901 but less than $34,800
|
25%
|
|
$34,801 but less than $35,700
|
20%
|
