[Adopted 10-23-1984 by L.L. No. 11-1984[1] (Ch. 134, Art. I, of the 1982 Code); amended in its entirety at time of adoption of Code (see Ch. 1, General Provisions, Art. I)]
[1]
Editor's Note: This local law also repealed former Art. I, Real Property Tax Reduction, adopted 3-13-1973 as Art. VI of Ch. VIII of the Walden Village Code, as amended.
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 Real Property Tax Law is hereby granted.
The schedule of exemptions is as follows:
Annual Income
Percentage of Assessed Valuation Exempt from Taxation
$0 to $29,000
50
More than $29,000 but less than $30,000
45
More than $30,000 but less than $31,000
40
More than $31,000 but less than $32,000
35
More than $32,000 but less than $32,900
30
More than $32,900 but less than $33,800
25
More than $33,800 but less than $34,700
20
More than $34,700 but less than $35,600
15
More than $35,600 but less than $36,500
10
More than $36,500 but less than $37,400
5