Low Income Property Tax Exemption Policy — full text

This is an automated transcription (OCR) of the captured official document — minor recognition errors are possible; the source document governs. Snapshot f6f50300c087 · verified 2026-06-05 · original document · archived snapshot · unofficial consolidation, the official version is held by the municipal clerk.

Low Income Property Tax Exemption ## TITLE This Policy is entitled the "Low Income Property Tax Exemption Policy." ## PURPOSE It shall be the policy of the Town of Lockeport to have clear terms and conditions to provide annual partial property tax relief to low-income property owners. ## Policy Details In September of each year, the Town shall advertise the availability of the LowIncome Property Tax Exemption Policy provisions. Applications shall be accepted until the third Friday of October of any fiscal year for the current fiscal year therein. To qualify for the Low-Income Property Tax Exemption, a property owner's gross income from all sources, including all persons of the same family residing within the household as the applicant (taxpayer), for the preceding calendar year for which the exemption is sought, is as follows: $23,000 or less $150.00 $18,000 or less $300.00 $12,000 or less $500.00 Total income does not include War Veterans Pensions and Allowance. All other income is included. The exemption is granted only in respect of property occupied by the applicant ratepayer as their primary residence year-round. A copy of the applicant's previous year's Income Tax Notice of Assessment is required. To qualify for the exemption, a property owner's previous year's taxes must be paid in full at the time of their application. Application forms will be available at the Lockeport Town Office at 26 North Street, Lockeport. Each year the Low-Income Property Tax Exemption Policy shall be reviewed to determine if the income level and amount of exemption need to be revised. ## TOWN OF LOCKEPORT POLICY STATEMENT Policy GG-042 Effective Date: October 10, 2023 Revision Date: March 7, 2024 Low Income Property Tax Exemption ## TOWN OF LOCKEPORT POLICY STATEMENT Effective Date: October 10, 2023  Policy GG-042 Revision Date: March 7, 2024  ## Town Clerk/Treasurer's Annotation for Official Policy Book Date of Passage of Current Policy: Oct 10, 2023 I certify that this Policy was adopted by Council as indicated above. tune Harden Tow Clerk/Treasurer - Date Now. 19/24 March 7, 2024 Revision Date