HomeMy WebLinkAbout2022-11-09 Draft Resolution - Modification of Income Eligibility level for Senior Citizens Tax Exemption
Town of Cortlandville
Proposed Resolution for November 9, 2022 Town Board Meeting
RESOLUTION # APPROVE MODIFICATION OF INCOME ELIGIBILITY
LEVEL FOR SENIOR CITIZENS TAX EXEMPTION
REQUIREMENTS FOR THE TOWN OF CORTLANDVILLE
Motion by Councilman
Seconded by Councilman
VOTES: AYE – NAY –
ADOPTED
WHEREAS, the Town Board of the Town of Cortlandville by Resolution #194 of 1994, adopted
December 7, 1994, established the maximum income eligibility level of $16,200.00 for
exemption from taxation for real property owned by persons sixty-five (65) years of age or older,
and
WHEREAS, the Town Board of the Town of Cortlandville by Resolution #54 of 2008, adopted
February 20, 2008, modified the maximum income eligibility level up to $22,200.00 for
exemption from taxation for real property owned by persons sixty-five (65) years of age or older,
with the percentage of exemption based on the maximum annual income range as authorized by
Real Property Tax Law § 467-d, and
WHEREAS, the Town Board desires to modify the levels of income and corresponding
exemptions for persons over age sixty-five (65), and
WHEREAS, a Public Hearing was held by the Town Board on November 9, 2022 in relation to
such modification, now therefore
BE IT RESOLVED, that the maximum income eligibility level of $22,200 as set forth in
Resolution #54 of 2008 is hereby modified pursuant to and in accordance with Real Property Tax
Law § 467-d, and it is further
RESOLVED, the percentage of exemption shall be based on the maximum annual income range
specified herein, as follows:
INCOME RANGE PERCENTAGE OF EXEMPTION
$ 0.00 to 25,000.00 50%
$25,000.01 to 25,999.99 45%
$26,000.00 to 26,999.99 40%
$27,000.00 to 27,999.99 35%
$28,000.00 to 28,899.99 30%
$28,900.00 to 29,799.99 25%
$29,800.00 to 30,699.99 20%
AND IT IS FURTHER RESOLVED, this modification for Senior Citizens Tax Exemption shall
take effect with the 2023 Town of Cortlandville Final Roll.