[Adopted 2-16-2016 by L.L. No. 1-2016]
This article authorizes the real property tax exemption for
persons 65 years of age or older as provided for in Real Property
Tax Law § 467 by increasing the maximum income eligibility
as detailed in Real Property Tax Law § 467, Subdivision
3.
Real property owned by one or more persons, each of whom is
65 years of age or over, or real property owned by a husband and wife,
or by siblings, one of whom is 65 years of age or over, shall be exempt
from taxation by the Village of Woodridge to the extent of 50% of
the assessed value thereof or such lesser per centum of assessed value
thereof for qualified persons based upon the maximum income eligibility
as determined in accordance with the provisions of Real Property Tax
Law § 467, Subdivision 1(b)(1), (2), and (3).
The maximum income eligibility determined in accordance with
Subdivision 3 of § 467 of the Real Property Tax Law shall
be $20,500, and shall entitle qualified owners to a fifty-percent
exemption.
No exemption shall be allowed except in accordance with the
provisions of § 467 of the Real Property Tax Law for real
property which qualifies by use and ownership upon application submitted
in the manner provided by such section.
