[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Editor's Note: This local law also repealed former Art.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
|
