[Adopted 2-9-1999 by L.L. No. 1-1999;
amended in its entirety 5-14-2019 by L.L. No. 5-2019]
This article is adopted pursuant to authority
of Real Property Tax Law § 459-c. All definitions, terms
and conditions of such statute shall apply to this article.
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
for 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 the amounts set forth herein.
Any such person shall be eligible for exemption in accordance with
the following schedule:
A.
For the taxable status date of June 1, 2007:
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
|---|---|
|
$0 to $26,000
|
50%
|
|
$26,001 to $27,000
|
45%
|
|
$27,001 to $28,000
|
40%
|
|
$28,001 to $29,000
|
35%
|
|
$29,001 to $29,900
|
30%
|
|
$29,901 to $30,800
|
25%
|
|
$30,801 to $31,700
|
20%
|
|
$31,701 to $32,600
|
15%
|
|
$32,601 to $33,500
|
10%
|
|
$33,501 to $34,400
|
5%
|
B.
For the taxable status date of June 1, 2008:
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
|---|---|
|
$0 to $27,000
|
50%
|
|
$27,001 to $28,000
|
45%
|
|
$28,001 to $29,000
|
40%
|
|
$29,001 to $30,000
|
35%
|
|
$30,001 to $30,900
|
30%
|
|
$30,901 to $31,800
|
25%
|
|
$31,801 to $32,700
|
20%
|
|
$32,701 to $33,600
|
15%
|
|
$33,601 to $34,500
|
10%
|
|
$34,501 to $35,400
|
5%
|
C.
For the taxable status date of June 1, 2009:
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
|---|---|
|
$0 to $28,000
|
50%
|
|
$28,001 to $29,000
|
45%
|
|
$29,001 to $30,000
|
40%
|
|
$30,001 to $31,000
|
35%
|
|
$31,001 to $31,900
|
30%
|
|
$31,901 to $32,800
|
25%
|
|
$32,801 to $33,700
|
20%
|
|
$33,701 to $34,600
|
15%
|
|
$34,601 to $35,500
|
10%
|
|
$35,501 to $36,400
|
5%
|
D.
For the taxable status date of June 1, 2010:
|
Annual Income
|
Percentage of Assessed Valuation Exempt
From Taxation
|
|---|---|
|
$0 to $29,000
|
50%
|
|
$29,001 to $30,000
|
45%
|
|
$30,001 to $31,000
|
40%
|
|
$31,001 to $32,000
|
35%
|
|
$32,001 to $32,900
|
30%
|
|
$32,901 to $33,800
|
25%
|
|
$33,801 to $34,700
|
20%
|
|
$34,701 to $35,600
|
15%
|
|
$35,601 to $36,500
|
10%
|
|
$36,501 to $37,400
|
5%
|
Such income shall be offset by medical and prescription
drug expenses actually paid, which were not reimbursed or paid by
insurance.
This exemption shall be extended to a legal
residence owned as a cooperative apartment as provided in such § 459-c.
