The Town Board of the Town of Milan adopts this article exercising the option, pursuant to the authority contained in New York Real Property Tax Law § 459-c, that from and after the first day of January 2018, the exemption for persons with disabilities and limited income as provided for in § 459-c of the New York Real Property Tax Law shall be as follows:
A.
Real property owned by one or more persons with disabilities, or real property owned by a husband, wife, or both, or by siblings, at least one of whom has a disability, or real property owned by one or more persons, some of whom qualify under this section and § 457 of the Real Property Tax Law, and whose income, as hereafter defined, is limited by reason of such disability, shall be exempt from taxation by any municipal corporation in which located to the extent of 50% of the assessed valuation thereof as hereinafter provided for income up to $24,000. The Town hereby also provides an exemption so as to increase the maximum income eligibility level of such municipal corporation as provided in the following schedule:
Annual Income | Percentage of Exempt Amount |
|---|---|
Income less than or equal to $24,000 | 50% |
More than $24,000 but less than $25,000 | 45% |
More than $25,000 but less than $26,000 | 40% |
More than $26,000 but less than $27,000 | 35% |
More than $27,000 but less than $27,900 | 30% |
More than 527,900 but less than $28,800 | 25% |
More than $28,800 but less than $29,700 | 20% |
More than $29,700 but less than $30,600 | 15% |
More than $30,600 but less than $31,500 | 10% |
More than 531,500 but less than $32,400 | 5% |
$32,400 or more | 0% |