[1]
Editor's Note: This local law also provided
that it shall apply to assessment rolls prepared on the basis of taxable
status dates occurring on or after 1-1-2003.
[Amended 12-21-2022 by L.L. No. 5-2022; 8-2-2023 by L.L. No. 4-2023; 9-20-2023 by L.L. No. 7-2023]
A.
Real property
in the Town of Van Buren owned by persons with disabilities, as defined
in § 459-c of the Real Property Tax Law, shall be exempt
from taxation to the extent of the following percentages based on
income limits as hereinafter set forth pursuant to the requirements
of said § 459-c of the Real Property Tax Law, as follows.
Sliding scale income level for partial tax exemption of real property
where income is:
|
Annual Income
|
Percentage of Exemption
|
|---|---|
|
Less than $50,000
|
50%
|
|
More than $50,000.01 but less than $50,999.99
|
45%
|
|
More than $51,000.00 but less than $51,999.99
|
40%
|
|
More than $52,000.00 but less than $52,999.99
|
35%
|
|
More than $53,000.00 but less than $53,899.99
|
30%
|
|
More than $53,900.00 but less than $54,799.99
|
25%
|
|
More than $54,800.00 but less than $55,699.99
|
20%
|
|
More than $55,700.00 but less than $56,599.99
|
15%
|
|
More than $56,600.00 but less than $57,499.99
|
10%
|
|
More than $57,500.00 but less than $58,399.99
|
5%
|
B.
The term
"income" shall include distributions received from an individual retirement
account or individual retirement annuity that were included in the
owner's federal adjusted gross income.
