[Adopted 9-13-1982 as L.L. No. 2-1982
(Ch. 130, Art. II, of the 1980 Code)]
[Amended 7-31-1990 by L.L. No. 7-1990]
A.
Real property owned by one (1) or more persons, each
of whom is sixty-five (65) years of age or over, or real property
owned by husband and wife, one (1) of whom is sixty-five (65) years
of age or over, shall be exempt from taxation by the Village of Thomaston
pursuant to Real Property Tax Law § 467, to the extent provided
in this section.
B.
Exemption table.
(1)
The percentage of the assessed value of any property
which shall be exempt from taxation pursuant to this section shall
be based upon income as provided in Real Property Tax Law § 467
and upon the following table:
[Amended 8-19-1992; 9-27-1994; 11-19-2002; 4-8-2019 by Res. No. 19-78]
|
Income
|
Percentage of Exemption
| |
|---|---|---|
|
Up to $29,000
|
50%
| |
|
More than $29,000 but less than $30,000
|
45%
| |
|
More than $30,000 but less than $31,000
|
40%
| |
|
More than $31,000 but less than $32,000
|
35%
| |
|
More than $32,000 but less than $32,900
|
30%
| |
|
More than $32,900 but less than $33,800
|
25%
| |
|
More than $33,800 but less than $34,700
|
20%
| |
|
More than $34,700 but less than $35,600
|
15%
| |
|
More than $35,600 but less than $36,500
|
10%
| |
|
More than $36,500 but less than $37,400
|
5%
| |
|
$37,400 or higher
|
0%
|
(2)
The maximum income limitations in the foregoing table
and the maximum percentage of exemption in the foregoing table may
be amended or revised by the Board of Trustees from time to time,
by resolution, provided that no such amendment or revision shall authorize
an income limitation or a percentage of exemption greater than the
maximum permitted by Real Property Tax Law § 467, and further
provided that no such resolution shall be applicable to any assessment
roll unless the resolution is adopted at least sixty (60) days prior
to the last day to complete said assessment roll.
[Added 9-16-1991 by L.L. No. 8-1991]
C.
No person otherwise qualifying for a real property
tax exemption pursuant to Real Property Tax Law § 467 shall
be denied the exemption if such person becomes sixty-five (65) years
of age after the appropriate taxable status date and before December
31 of the same year.
D.
Any person who has been granted an exemption pursuant
to this section on five (5) consecutive assessment rolls shall not
be subject to the requirements of Real Property Tax Law § 467,
Subdivision 6(a), provided that such person shall file the sworn affidavit
required by Real Property Law § 467, Subdivision 6(b).[1]
[1]
Editor's Note: Former §§ 130-20,
Qualifications, 130-21, Income limitations, 130-22, Property to be
used for residential purposes, and 130-23, Application for exemption,
which immediately followed this subsection, were repealed 7-31-1990
by L.L. No. 7-1990.
E.
The exemption authorized by Real Property Tax Law
§ 467, Subdivision 3-a for that portion of real property
owned by a cooperative apartment corporation in which a tenant stockholder
of such corporation, resides and which is represented by such stockholder's
share of stock in such corporation as determined by its or their proportional
relationship to the total outstanding stock of the corporation, including
shares owned by the corporation, shall be permitted in the Village
of Thomaston.
[Added 3-11-1996 by L.L. No. 4-1996]
