This article shall hereinafter be known and
may be cited as the "Aged Tax Exemption Law of the Village of New
Paltz."
The purpose of this article is to provide a
partial exemption from taxation imposed by the Incorporated Village
of New Paltz upon real property situated within the Village of New
Paltz owned by persons 65 years of age and over, pursuant to the authority
vested in the Village by § 467 of the Real Property Tax
Law of the State of New York.
The provisions of § 467 of the Real Property Tax Law of the State of New York, as amended through the effective date of this article, together with any further acts of the Legislature amendatory thereof or supplemental thereto, shall apply to and govern the determination of the exemption from taxation permitted by this article, to the extent specified in §
182-18 hereof, as if such § 467 had been more particularly set forth herein.
[Amended 10-22-2014 by L.L. No. 13-2014]
No exemption from taxation shall be granted hereunder if the
income of the owner or the combined income of the owners of the real
property for the income tax year immediately preceding the date of
application for exemption exceeds the sum as set annually by resolution
of the Board of Trustees.