This article is enacted pursuant to the provisions of § 467 of the New York State Real Property Tax Law to establish the real property tax income levels for senior citizens.
[Adopted 2-20-2007 by L.L. No. 3-2007; amended in its entirety 2-15-2011 by L.L. No. 2-2011]
The Town of Hillsdale hereby adopts the following schedule of 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% |
$30,000.00 to $30,999.99 | 40% |
$31,000.00 to $31,999.99 | 35% |
$32,000.00 to $32,899.99 | 30% |
$32,900.00 to $33,799.99 | 25% |
$33,800.00 to $34,699.99 | 20% |
$34,700.00 to $35,599.99 | 15% |
$35,600.00 to $36,499.99 | 10% |
$36,500.00 to $37,399.99 | 5% |
This article shall repeal and supersede any prior local laws of the Town of Hillsdale which are inconsistent with the provisions of this article.
This article shall take effect immediately.