[Adopted 8-10-1987 by L.L. No. 9-1987 (Ch. 104, Art. II,
of the 1987 Code)]
[Amended 6-12-2017 by L.L. No. 4-2017; 11-30-2022 by L.L. No. 4-2022]
Pursuant to § 467 of the Real Property Tax Law, the Town Board of the Town of Hamlin hereby grants a tax exemption of up to 50% of assessed valuation on real property located in the Town of Hamlin and owned by persons 65 years of age or over, provided that the applicant for such exemption meets all of the requirements of § 467 of the Real Property Tax Law and the income of such applicant does not exceed the amount specified in § 442-4 of this article.
[Last amended 1-8-2007 by L.L. No. 1-2007]
Such exemption shall not be granted if the income of the owner
or combined income of the owners of the property for the income tax
year immediately preceding the date of making application for exemption
exceeds the sum of $29,000, except that if the aforesaid income is
more than $29,000, then such real property shall be exempt to the
extent provided in the following table:
|
Percentage of Assessed Value Exempt from Taxation
|
Annual Income
|
|---|---|
|
50%
|
$29,000 or less
|
|
45%
|
$29,001 to $30,000
|
|
40%
|
$30,001 to $31,000
|
|
35%
|
$31,001 to $32,000
|
|
30%
|
$32,001 to $32,900
|
|
25%
|
$32,901 to $33,800
|
|
20%
|
$33,801 to $34,700
|
|
15%
|
$34,701 to $35,600
|
|
10%
|
$35,601 to $36,500
|
|
5%
|
$36,501 to $37,400
|
|
0%
|
Over $37,400
|
