This article is adopted pursuant to the authority
of Real Property Tax Law § 459-c. All definitions, terms
and conditions of such statute shall apply to this article.
Real property owned by a person with disabilities
whose income is limited by such disabilities, and used as the legal
residence of such person, shall be entitled to a partial exemption
from taxation to the extent of 50% of assessed valuation.
To be eligible for the maximum exemption of
50% of assessed valuation authorized by § 459-c and implemented
by this article, the maximum income of such person shall not exceed
$14,999. Any such person having a higher income shall be eligible
for exemption in accordance with the schedule set forth in Table 1
below:
Table 1
|
---|
Annual Income
|
Percentage Assessed Valuation Exempt from
Taxation
|
---|
$0 to $14,999
|
50%
|
$15,000 to $15,999
|
45%
|
$16,000 to $16,999
|
40%
|
$17,000 to $17,999
|
35%
|
$18,000 to $18,899
|
30%
|
$18,900 to $19,799
|
25%
|
$19,800 to $20,699
|
20%
|
$20,700 to $21,599
|
15%
|
$21,600 to $22,499
|
10%
|