[1]
Editor's Note: This local law also superseded
L.L. No 10-1987, adopted 10-8-1987.
[Amended 12-26-1991 by L.L. No. 2-1991; 12-29-1992 by L.L. No. 4-1992; 2-9-1995 by L.L. No. 2-1995; 2-23-2012 by L.L. No. 1-2012]
Pursuant to § 467-d of the Real Property
Tax Law[1] of the State of New York, real property owned by one or
more persons, each of whom is 65 years of age or over, or real property
owned by husband and wife, one of whom is 65 years of age or over,
shall be exempt from taxation by the Town of Wallkill to the extent
of the percentage of the assessed valuation thereof as shown on the
following graduated income scale where the income of the owner or
the combined income of the owners of the property for the income tax
year immediately preceding the date of application for the exemption
is less than the amount shown thereon. This article shall be construed
and interpreted in accordance with those applicable provisions set
forth in § 467-d of the Real Property Tax Law[2] of the State of New York and is in all respects governed
thereby, and said law is incorporated herein by reference.
|
Annual Income
|
Percentage of Assessed
Valuation Exempt from Taxation
|
|---|---|
|
0 but less than $29,000
|
50%
|
|
$29,001 but less than $30,000
|
45%
|
|
$30,001 but less than $31,000
|
40%
|
|
$31,001 but less than $32,000
|
35%
|
|
$32,001 but less than $32,900
|
30%
|
|
$32,901 but less than $33,800
|
25%
|
|
$33,801 but less than $34,700
|
20%
|
|
$34,701 but less than $35,600
|
15%
|
|
$35,601 but less than $36,500
|
10%
|
|
$36,501 but less than $37,400
|
5%
|
[1]
Editor's Note: Section 467-d of the Real Property
Tax Law was repealed by L. 1985, c.440, § 3, eff. 1-2-1986.
See now §467 of the Real Property Tax Law.
[2]
Editor's Note: Section 467-d of the Real Property
Tax Law was repealed by L. 1985, c.440, § 3, eff. 1-2-1986.
See now §467 of the Real Property Tax Law.
