[HISTORY: Adopted by the Town Board of the Town of Spencer as indicated in article histories. Amendments noted where applicable.]
[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[1] 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."
[1]
Editor's Note: See Real Property Tax Law § 458.
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[1]]
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%
[1]
Editor's Note: Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. II).
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.