[Adopted 8-10-2009 by L.L. No. 1-2009]
[Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. I)]
The purpose of this article is to grant a partial exemption from taxation to the assessed valuation of real property which is owned by certain persons with limited income who are 65 years of age or over meeting the requirements set forth in § 467 of the Real Property Tax Law, to the extent as provided in the following schedule:
Income Amount
Exempt %
Up to $29,000
50%
More than $29,000 to $30,000
45%
More than $30,000 to $31,000
40%
More than $31,000 to $32,000
35%
More than $32,000 to $32,900
30%
More than $32,900 to $33,800
25%
More than $33,800 to $34,700
20%
More than $34,700 to $35,600
15%
More than $35,600 to $36,500
10%
More than $36,500 to $37,400
5%
[Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. I)]
Real property owned by persons 65 years of age or over or owned jointly by husband and wife or by siblings, one of whom is 65 years of age or over, shall be exempt from Village taxes as set forth in § 117-8 of this article whereas the aforesaid section is subject to the following conditions:
A. 
The owner of all of the owners must file an application annually in the Assessor's office on forms prescribed by the Commissioner to be furnished by the Assessor's office on or before March first, the taxable status date, or such time as may be hereafter fixed by law.
B. 
The income of the owner or the combined income of the owners must not exceed the amounts as set forth in § 117-8 of this article for the income tax year immediately preceding the date of make application, or if no tax return is filed, the calendar year.
C. 
Title of the property must be vested in the owner or one of the owners of the property for at least 12 consecutive months prior to the date of the application is filed in accordance with Real Property Tax Law § 67, Subdivision 3(b).
D. 
The property must be used exclusively for residential purposes, be occupied in whole or part by the owners and constitute the legal residence of the owners in accordance with Real Property Tax Law § 467, Subdivision 3(c) and (d).