[Adopted 2-8-1995; amended in its entirety 11-10-2003 by L.L. No. 4-2003]
[Amended 2-1-2016 by L.L. No. 1-2016]
A. 
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 or by siblings, one of whom is 65 years of age or over, shall be exempt from Town taxes to the following extent:
Annual Income
Percentage Assessed Valuation Exempt From Taxation
$20,500 or less
50%
Over $20,500 but less than $21,500
45%
$21,500 but less than $22,500
40%
$22,500 but less than $23,500
35%
$23,500 but less than $24,400
30%
$24,400 but less than $25,300
25%
$25,300 but less than $26,200
20%
$26,200 but less than $27,100
15%
$27,100 but less than $28,000
10%
$28,000 but less than $28,900
5%
B. 
Income shall not include veterans disability compensation as defined in Title 38 of the United States Code, as provided in Paragraph (a) of Subdivision 3 of § 467 of the Real Property Tax Law of the State of New York.
C. 
Where a renewal application for the exemption authorized by this section has not been filed on or before the taxable status date, and the owner believes that good cause existed for the failure to file the renewal application by that date, the owner may, no later than the last day for paying taxes without incurring interest or penalty, submit a written request to the assessor asking him or her to extend the filing deadline and grant the exemption. Such request shall contain an explanation of why the deadline was missed, and shall be accompanied by a renewal application, reflecting the facts and circumstances as they existed on the taxable status date. The assessor may extend the filing deadline and grant the exemption if he or she is satisfied that (i) good cause existed for the failure to file the renewal application by the taxable status date, and that (ii) the applicant is otherwise entitled to the exemption. The assessor shall mail notice of his or her determination to the owner. If the determination states that the assessor has granted the exemption, he or she shall thereupon be authorized and directed to correct the assessment roll accordingly, or, if another person has custody or control of the assessment roll, to direct that person to make the appropriate corrections. If the correction is not made before taxes are levied, the failure to take the exemption into account in the computation of the tax shall be deemed a "clerical error" for purposes of Title 3 of Article 5 of the Real Property Tax Law, and shall be corrected accordingly.
[Added 12-5-2016 by L.L. No. 4-2016]