[Adopted 11-20-1991 by L.L. No. 7-1991 (Ch. 158, Art. V of
the 1982 Code)]
A.
Real property owned by one or more persons, each of
whom is 65 years of age or over, or real property owned by husband
and wife, one of whom is 65 years of age or over, shall be exempt
from real property taxes levied by the Village of North Hills pursuant
to Real Property Tax Law § 467 to the extent provided in
this section.
B.
The percentage of the assessed valuation of any real
property which shall be exempt from taxation pursuant to this section
shall be based upon income as provided in Real Property Tax Law § 467
and upon the following table:
[Amended 9-16-1992 by L.L. No. 7-1992; 12-28-1994; 3-26-1997[1]; 1-19-2005 by L.L. No. 1-2005; 10-19-2022]
|
Annual Income
|
Percentage of Assessed Valuation Exempt
from Taxation
| |
|---|---|---|
|
Less than $42,600
|
45
| |
|
More than $42,600 but less than $43,600
|
40
| |
|
More than $43,600 but less than $44,600
|
35
| |
|
More than $44,600 but less than $45,500
|
30
| |
|
More than $45,500 but less than $46,400
|
25
| |
|
More than $46,400 but less than $47,300
|
20
| |
|
More than $47,300 but less than $48,200
|
15
| |
|
More than $48,200 but less than $49,100
|
10
| |
|
More than $49,100 but less than $50,000
|
5
| |
|
$50,000 or more
|
0
|
[1]
Editor's Note: This resolution also provided
that this amendment shall be effective for assessment rolls which
are completed 60 days or more after the adoption date of this resolution.
C.
No person otherwise qualified for a real property
tax exemption pursuant to Real Property Tax Law § 467 shall
be denied the exemption if such person becomes 65 years of age after
the appropriate taxable status date and before December 31 of the
same year.
D.
Any person who has been granted an exemption pursuant
to this section on five consecutive assessment rolls shall not be
subject to the requirements of Real Property Tax Law § 467,
Subdivision 6(a), provided that such person shall file the sworn affidavit
required by Real Property Tax Law § 467, Subdivision 6(b).
