A partial exemption from taxation of the assessed
valuation of real property which is owned by certain persons with
limited income who are 65 years of age or older meeting the requirements
set forth in § 467 of the Real Property Tax Law is hereby
granted.
[Added 1-17-2017 by L.L.
No. 1-2017]
A. 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 for Town purposes to the extent as provided in the following
schedule:
Annual Income
|
Exemption Percentage
|
---|
Less than $21,000
|
50%
|
$21,000 to $21,999.99
|
45%
|
$22,000 to $22,999.99
|
40%
|
$23,000 to $23,999.99
|
35%
|
$24,000 to $24,899.99
|
30%
|
$24,900 to $25,799.99
|
25%
|
$25,800 to $26,699.99
|
20%
|
$26,700 to $27,599.99
|
15%
|
$27,600 to $28,499.99
|
10%
|
B. Any person otherwise qualifying under this section shall not be denied
the exemption under this section if he or she becomes 65 years of
age after the appropriate taxable status date and on or before December
31 of the same year.
C. This schedule shall be employed by the Town of Niagara Assessor in
the preparation of any assessment roll beginning with the 2017-2018
assessment roll.