[Adopted 10-4-1983 (Ch. 39, Art. I, of the 1966 Code)]
The purpose of this article is to grant a partial exemption from taxation for a per centum of the assessed valuation of real property which is owned by certain persons with limited income who are 65 years of age or over and who meet the requirements set forth in § 467 of the Real Property Tax Law.
Real property owned by persons 65 years of age or over shall be exempt from Town taxes for a per centum of the assessed valuation subject to the following conditions:
A. 
The owner or all of the owners must file an application annually in the Assessor's office at least 90 days before the day for filing the final assessment roll or such other time as may hereafter be fixed by law.
B. 
Amount of exemption.
[Amended 3-4-1987; 12-20-1989; 12-5-1990; 11-20-1991; 3-17-1993; 11-16-1994; 4-2-2003]
(1) 
The Town Board of the Town of Glenville hereby increases the maximum income allowed to obtain a reduction of 50% in assessed valuation pursuant to § 467 of the Real Property Tax Law to $18,500, effective with the assessment roll to be completed and filed by May 1, 2004.
(2) 
Effective with the assessment roll to be completed and filed by May 1, 2004, the full benefit provided by § 467 of the Real Property Tax Law shall be as follows:
Minimum Income
Maximum Income
Exemption Percent
$0.00
$18,500.00
50%
$18,500.01
$19,499.99
45%
$19,500.00
$20,499.99
40%
$20,500.00
$21,499.99
35%
$21,500.00
$22,399.99
30%
$22,400.00
$23,299.99
25%
$23,300.00
$24,199.99
20%
$24,200.00
$25,099.99
15%
$25,100.00
$25,999.99
10%
$26,000.00
$26,899.99
5%
C. 
Title to the property must be vested in the owner or, if more than one, in all the owners for at least 12 consecutive months prior to the date that the application is filed.
[Amended 4-5-2006 by L.L. No. 3-2006]
D. 
The property must be used exclusively for residential purposes, be occupied in whole or in part by the owners and constitute the legal residence of the owners.