[Adopted as Ch. 190, Art. I of the 1976 Code;
amended in its entirety 11-17-2009 by L.L. No. 12-2009]
Pursuant to the provisions of Subdivision 1
of § 467 of the Real Property Tax Law, real property within
the Village of Great Neck owned by one or more persons, each of whom
is 65 years of age or over, or real property owned by husband and
wife or by siblings, one of whom is 65 years of age or over, or real
property owned by one or more persons, some of whom qualify under
Real Property Tax Law § 467 and the others of whom qualify
under Real Property Tax Law § 459-c, Persons with disabilities
and limited incomes, shall be exempt from taxation by the Village
to the extent of 50% of the assessed valuation thereof. For the purposes
of this section, "sibling" shall mean a brother or a sister, whether
related through half blood, whole blood, or adoption.
A.
Qualifications for a real property tax exemption under this article shall be governed by the provisions of § 467 of the Real Property Tax Law and the income eligibility levels hereinafter set forth in Subsection B hereof.
B.
Income eligibility shall be as follows:
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
| |
|---|---|---|
|
$0 to $29,000
|
50%
| |
|
More than $29,000 but less than $30,000
|
45%
| |
|
$30,000 or more but less than $31,000
|
40%
| |
|
$31,000 or more but less than $32,000
|
35%
| |
|
$32,000 or more but less than $32,900
|
30%
| |
|
$32,900 or more but less than $33,800
|
25%
| |
|
$33,800 or more but less than $34,700
|
20%
| |
|
$34,700 or more but less than $35,600
|
15%
|
