This article is adopted pursuant to the authority of Real Property Tax Law § 459-c. All definitions, terms and conditions of such statute shall apply to this article.
[Adopted 2-17-1998 by L.L. No. 1-1998]
Real property owned by a person with disabilities whose income is limited by such disabilities, and used as the legal residence of such person, shall be entitled to a partial exemption from taxation to the extent of 50% of assessed valuation.
[Amended 2-20-2007 by L.L. No. 2-2007; 6-13-2008 by L.L. No. 3-2008; 2-15-2011 by L.L. No. 1-2011]
The Town of Hillsdale hereby adopts the following schedule for income levels and the percentage of assessed valuation which shall be exempt from real property taxation:
Annual Income | Percent of Exemption |
|---|---|
$29,000 and under | 50% |
$29,000.01 to $29,999.99 | 45% |
$30,000 to $30,999.99 | 40% |
$31,000 to $31,999.99 | 35% |
$32,000 to $32,899.99 | 30% |
$32,900 to $33,799.99 | 25% |
$33,800 to $34,699.99 | 20% |
$34,700 to $35,599.99 | 15% |
$35,600 to $36,499.99 | 10% |
$36,500 to $37,399.99 | 5% |
This article shall take effect immediately upon its filing in the office of the Secretary of State.