Pursuant to the provisions of § 467
of the Real Property Tax Law of the State of New York, and as therein
provided, the real property owned by one or more persons, each of
whom is 65 years of age or over, shall be exempt from taxation by
the Village as hereinafter provided. Such exemptions shall be computed
after all other partial exemptions allowed by law have been subtracted
from the total amounts assessed.
Maximum Annual Income
From
To
Percentage of Assessed
Valuation Exempt from Taxation
$0
27,000
50%
27,001
28,000
45%
28,001
29,000
40%
29,001
30,000
35%
30,001
30,900
30%
30,901
31,800
25%
31,801
32,700
20%
32,701
33,600
15%
33,601
34,500
10%
Amended 12-8-1986 by L.L. No. 4-1986; 2-12-1990 by L.L. No.
1-1990; 12-10-1990 by L.L. No. 3-1990; 1-13-1992 by L.L. No. 1-1992; 12-14-1992 by L.L. No. 7-1992; 12-12-1994 by L.L. No. 5-1994; 11-18-1996 by L.L. No. 5-1996; 12-10-2007 by L.L. No. 5-2007
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