[Adopted 1-29-1991 by L.L. No. 1-1991]
The purpose of this article is to grant 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 over meeting the requirements set forth in § 467 of the Real Property Tax Law. Qualifications and income definition are set forth therein.
Real property owned by persons 65 years of age or over, or real property owned by husband and wife, one of whom is 65 years of age or older, shall be exempt from Town taxes to the extent hereinafter set forth in § 467 of the Real Property Tax Law and to the following.
[Amended 2-28-1995 by L.L. No. 2-1995; 11-18-2008 by L.L. No. 2-2008; 12-13-2019 by L.L. No. 5-2019]
The income of the owner or the combined income of the owners of the property from the income tax year immediately preceding the date of making application for exemption must not exceed the sum set forth below. "Income tax year" shall mean the twelve-month period for which the owner or owners filed a federal personal tax return or, if no such return was filed, the calendar year.