All references, qualification and definitions in this article are pursuant to State Real Property Tax Law § 467.
[Adopted 3-24-2003 by L.L. No. 1-2003 as § 130.0 of the 2003 Code]
Application for the seniors partial property tax exemption must be filed with the Village Clerk before the tax rolls for a given fiscal year close.
Seniors partial property tax exemptions are on a sliding scale based on the combined income of the owners, as follows:
Exemption | |
|---|---|
$17,500 or less | 50% |
$17,501 to $18,499 | 45% |
$18,500 to $19,499 | 40% |
$19,500 to $20,499 | 35% |
$20,500 to $21,399 | 30% |
$21,400 to $22,299 | 25% |
$22,300 to $23,199 | 20% |
$23,200 to $24,099 | 15% |
$24,100 to $24,999 | 10% |