In accordance with the Real Property Tax Law § 467,
a 50% tax exemption shall be granted on real property owned by persons
who meet the regulations of § 467 of the Real Property Tax
Law and who make application to the City Assessor.
[Amended 4-13-1978; 3-26-1980; 4-16-1980; 12-23-1980; 9-14-1982]
The exemption shall not be granted if the income of the owner
of the property for the income tax year immediately preceding the
date of making the application for exemption exceeds $12,025.
[Added 10-24-1989; amended 12-2-1993; 1-19-1995; 11-16-1995]
The senior citizens tax exemption shall be in the following
amounts:
Income
|
Percentage
|
---|
$17,500.00 or less
|
50
|
$17,500.00 to $18,500.00
|
45
|
$18,500.00 to $19,500.00
|
40
|
$19,500.00 to $20,500.00
|
35
|
$20,500.00 to $21,400.00
|
30
|
$21,400.00 to $22,300.00
|
25
|
$22,300.00 to $23,200.00
|
20
|
$23,200.00 to $24,100.00
|
15
|
$24,100.00 to $25,000.00
|
10
|
$25,000.00 to $25,899.99
|
5
|
[Amended 4-13-1978; 3-26-1980; 12-30-1980; 9-14-1982]
This resolution is passed under authority of New York State
Real Property Tax Law § 467, as amended in 1982.