This article is adopted pursuant to the authority of Real Property Tax Law § 459-c. All definitions, terms and conditions of such statute shall apply to this article.
[Adopted 2-25-1998 by L.L. No. 3-1998 (Ch. 101, Art. VI, of the 1980 Code)]
Real property owned by a person with disabilities whose income is limited by such disabilities, and used as the legal residence of such person, shall be entitled to a partial exemption from taxation to the extent of 50% of assessed valuation.
To be eligible for the exemption authorized by such § 459-c and implemented by this article, the maximum income of such person shall not exceed $18,500 to qualify for the 50% exemption. Any such person having a higher income shall be eligible for exemption in accordance with the following schedule:
Income | Percentage of Assessed Valuation Exempt from Taxation |
|---|---|
$18,500 and under | 50% |
$18,500 to $19,499 | 45% |
$19,500 to $20,499 | 40% |
$20,500 to $21,499 | 35% |
$21,500 to $22,399 | 30% |
$22,400 to $23,299 | 25% |
$23,300 to $24,199 | 20% |
$24,200 to $25,099 | 15% |
$25,100 to $25,999 | 10% |
$26,000 to $26,899 | 5% |
$26,900 and over | 0% |
The Town Board may from time to time amend, supplement, change, modify or repeal this article by resolution, pursuant to the provision of the Town Law, the General Municipal Law and the Real Property Tax Law of New York State applicable thereto.