[Amended 4-13-1990 by L.L. No. 7-1990; 12-14-1990 by L.L. No. 25-1990; 12-13-1991 by L.L. No. 16-1991; 12-14-1992 by L.L. No. 13-1992; 10-11-1994 by L.L. No. 14-1994; 5-13-1996 by L.L. No. 8-1996; 9-19-1997 by L.L. No. 10-1997; 12-14-1998 by L.L. No. 11-1998; 9-10-2001 by L.L. No. 13-2001; 9-8-2003 by L.L. No. 11-2003; 10-6-2005 by L.L. No. 7-2005; 11-1-2007 by L.L. No. 12-2007; 1-8-2009 by L.L. No. 1-2009; 11-5-2009 by L.L. No. 9-2009; 1-5-2023 by L.L. No. 1-2023; 3-2-2023 by L.L. No. 6-2023]
Real property owned by one or more persons, each of whom has become 65 years of age or older after an assessing unit's taxable status date and before December 31 of the same year, or real property owned by husband and wife, one of whom has become 65 years of age or older after an assessing unit's taxable status date and before December 31 of the same year, shall be exempt from taxation by the Village of Westhampton Beach to the extent of 50% based upon an annual income of no more than $50,000 and thereafter at the percentage of assessed valuation thereof as provided in the following schedule:
Annual Income | Percentage of Assessed Valuation Exempt From Taxation |
|---|---|
Up to $50,000 | 50% |
Up to $51,000 | 45% |
Up to $52,000 | 40% |
Up to $53,000 | 35% |
Up to $53,900 | 30% |
Up to $54,800 | 25% |
Up to $55,700 | 20% |
Up to $56,600 | 15% |
Up to $57,500 | 10% |
Up to $58,400 | 5% |