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A Public Hearing w~s held on Wedne~d~y, July 9, 1997 at 7:15 P.M. in the American <br />Legion Hall on tb~ following proposed local laws: <br /> <br />Local Law #4 - a local law ~ending Local Law #1 of 1993 to increase the maximum <br />incc~e eligibility exemption for the granting of partial tax exemption to certain <br />persons sixty-five years and over. <br /> <br />Assessor WaLker reported Chapter 139 of the Real Property tax Law has been amended <br />to increase the maximum income ceiling for purposes of the senior citizens exempt- <br />ion frcm $17,500. to $18,000.. He said increase would also affect t_h~ sliding scale <br />option, which means that a municipality adopting the new ceiling may grant a <br />minimal (5%) exemption to seniors whose incc~es are less than $26,900. <br /> <br />Local law #5 - a local law in relation to the maximum exe~!3tion allowable for the <br />alternative veterans exemption frcm real property tax exemption. <br /> <br />Mr. Walker reported this ~roposal concerning this exemption affects the exemption <br />limits. The alternative veterans exemption provides a w~r time veteran an exemption <br />of 15% up to a maximum of $12,000. of full value assessment, a ccmbat veteran an <br />additional 10% up to $8,000. of full assessment and a disabled veteran an exemption <br />of a percent equal to one half his disability rating up to a maximum of $40,000 of <br />full value assesa~nt. <br />Mr. Walker explained the impact this proposal would have on the maximum full value <br />residence stating that, with the proposed nc~w limits, the ex~wption %ould apply <br />up to $120,000. of full value. <br /> <br />Mayor Beldir~ said that if anyone has any questions regarding the proposed local <br />laws, they should feel free to contact Assessor Walker at the Village Hall and b~ <br /> <br />Question arose as to how ~hese increased exemptions would effect our tax revenues <br />& Mr. Walker replied limits are increased due to inflation and shouldn't have any <br />effect. <br /> <br />M.. Jack Shay, resident of Clapp Ave., said veterans deserve the increased ~on <br />as ~ have served their country in cc~bat. <br /> <br />Public Hg. closed 7:30 P.M. <br /> <br />Village Clerk <br /> <br /> <br />