[Adopted 1-15-1985 by L.L. No. 1-1985]
In order to evaluate the potential impact of exemptions granted
by Chapter 525 of the Laws of 1984 upon all taxpayers of the Town of Spencer, the Board of
Councilmen do hereby enact the following chapter, to be known as the
"Veterans Real Property Tax Exemption."
No exemption shall be granted for taxes due from owners of real
property located in the Town of Spencer as a result of the status
of the taxpayers as veterans as authorized by Chapter 525 of the Laws
of 1984.
[Adopted 2-14-1995 by L.L. No. 1-1995]
[Amended 4-14-1998 by L.L. No. 1-1998]
Pursuant to § 467, Subdivisions a and b et seq., of
the Real Property Tax Law of the State of New York, as amended, persons
who are owners of property subject to taxation by the Town of Spencer
who qualify for an exemption under the terms of such statute and/or
any rules and regulations of the Commissioner of Taxation and Finance
and/or by any rules and regulations of any local assessment authorities
for the various tax districts located within the Town of Spencer shall
be partially exempt from taxation by the Town in accordance with the
following schedule as it applies to such persons and their annual
income as determined by such assessing units:
Annual Income
(dollars)
|
Percentage Assessed Valuation Exempt From Taxation
(percent)
|
---|
Up to and including $9,200
|
50%
|
$9,200.01 to $10,199.99
|
45%
|
$10,200 to $11,199.99
|
40%
|
$11,200 to $12,199.99
|
35%
|
$12,200 to $13,099.99
|
30%
|
$13,100 to $13,999.99
|
25%
|
$14,000 to $14,899.99
|
20%
|
$14,900 to $15,799.99
|
15%
|
$15,800 to $16,699.99
|
10%
|
$16,700 to $17,599.99
|
5%
|
For incomes over $17,600
|
0%
|
Such revised schedule of assessment exemption shall be effective
for any taxes levied and collected after March 1, 1995, and, subsequent
to that date, shall supersede any prior exemption granted by the Town
pursuant to such statute.
The Clerk of the Town of Spencer is directed to provide a certified
copy of this article to each of the Assessors and any other authority
responsible for the compilation of the assessment roll and/or collection
of taxes for each property subject to taxation by the Town of Spencer.