[Added 7-3-2000 by L.L. No. 3-2000]
Real property owned by one or more persons with disabilities, or real property owned by a husband, wife, or both, or by siblings, at least one of whom has a disability, and whose income, as defined in § 459-c of the Real Property Tax Law, is limited by reason of such disability, shall be exempt from taxation by any municipal corporation in which located to the extent of 50% of the assessed evaluation as provided in said § 459-c.
[Amended 2-2-2004 by L.L. No. 1-2004; 2-5-2007 by L.L. No. 1-2007]
Furthermore, real property owned by one or more persons with disabilities, or real property owned by a husband, wife, or both, or by siblings, at least one of whom has a disability, and whose income, as defined in said section, is limited by reason of such disability and is in excess of $26,000, shall be partially exempt from taxation by any municipal corporation in which located, subject to the sliding scale income/exemption schedule as provided in said § 459-c and as shown below:
Annual Income
Percentage Of Assessed Valuation Exempt From Taxation
Up to $26,000
50%
More than $26,000 but less than $27,000
45%
$27,000 or more but less than $28,000
40%
$28,000 or more but less than $29,000
35%
$29,000 or more but less than $29,900
30%
$29,900 or more but less than $30,800
25%
$30,800 or more but less than $31,700
20%
$31,700 or more but less than $32,600
15%
$32,600 or more but less than $33,500
10%
$33,500 or more but less than $34,400
5%