[Adopted 12-4-1986 by L.L. No. 1-1987]
[Amended 9-7-1989 by L.L. No. 5-1989]
Pursuant to the provisions of § 467
of the Real Property Tax Law and as therein provided, real property
owned by one or more persons, each of whom is 65 years of age or over,
or real property owned by a husband and wife, one of whom is 65 years
of age or over, shall be exempt from taxation to the extent of the
percentage of assessed valuation thereof as herein provided.
[Last amended 11-16-2006 by L.L. No. 4-2006]
All of the provisions, conditions and requirements
of § 467 of the Real Property Tax Law and amendments thereto
shall apply to the application for and the granting of such an exemption
on the assessment roll of the Town of Philipstown. The maximum income
eligibility level of the owner or owners of the property for the income
fax year immediately preceding the date of making application for
exemption shall be based on the maximum annual income range specified
herein as follows:
A.
Beginning July 1, 2006:
Maximum Annual Income Range
|
Percentage of Assessed Valuation Exempt
from Taxation
|
---|---|
$0 or more, but less than $26,000
|
50%
|
$26,000 or more, but less than $27,000
|
45%
|
$27,000 or more, but less than $28,000
|
40%
|
$28,000 or more, but less than $29,000
|
35%
|
$29,000 or more, but less than $29,900
|
30%
|
$29,900 or more, but less than $30,800
|
25%
|
$30,800 or more, but less than $31,700
|
20%
|
$31,700 or more, but less than $32,600
|
15%
|
$32,600 or more, but less than $33,500
|
10%
|
$33,500 or more, but less than $34,400
|
5%
|
$34,400 or more
|
0% (no exemption)
|
B.
Beginning July 1, 2007:
Maximum Annual Income Range
|
Percentage of Assessed Valuation Exempt
from Taxation
|
---|---|
$0 or more, but less than $27,000
|
50%
|
$27,000 or more, but less than $28,000
|
45%
|
$28,000 or more, but less than $29,000
|
40%
|
$29,000 or more, but less than $30,000
|
35%
|
$30,000 or more, but less than $30,900
|
30%
|
$30,900 or more, but less than $31,800
|
25%
|
$31,800 or more, but less than $32,700
|
20%
|
$32,700 or more, but less than $33,600
|
15%
|
$33,600 or more, but less than $34,500
|
10%
|
$34,500 or more, but less than $35,400
|
5%
|
$35,400 or more
|
0% (no exemption)
|
C.
Beginning July 1, 2008:
Maximum Annual Income Range
|
Percentage of Assessed Valuation Exempt
from Taxation
|
---|---|
$0 or more, but less than $28,000
|
50%
|
$28,000 or more, but less than $29,000
|
45%
|
$29,000 or more, but less than $30,000
|
40%
|
$30,000 or more, but less than $31,000
|
35%
|
$31,000 or more, but less than $31,900
|
30%
|
$31,900 or more, but less than $32,800
|
25%
|
$32,800 or more, but less than $33,700
|
20%
|
$33,700 or more, but less than $34,600
|
15%
|
$34,600 or more, but less than $35,500
|
10%
|
$35,500 or more, but less than $36,400
|
5%
|
$36,400 or more
|
0% (no exemption)
|
D.
Beginning July 1, 2009:
Maximum Annual Income Range
|
Percentage of Assessed Valuation Exempt
from Taxation
|
---|---|
$0 or more, but less than $29,000
|
50%
|
$29,000 or more, 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%
|
$35,600 or more, but less than $36,500
|
10%
|
$36,500 or more, but less than $37,400
|
5%
|
$37,400 or more
|
0% (no exemption)
|
[Last amended 11-16-2006 by L.L. No. 4-2006]
This article shall apply to assessment rolls
beginning July 1, 2006, and the provisions of § 467 of the
Real Property Tax Law, as amended, shall govern the granting of exemptions.