Engle v. Talarico

We are called upon .to construe the meaning and intent of a statutory enactment granting certain tax exemptions for residential property owned by persons 65 years or older. By chapter 616 of the Laws of 1966, the Legislature enacted section 467 of the Real Property Tax Law which provides that, subject to certain conditions, the property of persons 65 years or older “ shall be exempt from taxation by any municipal corporation in which located to the extent of fifty per centum of the assessed valuation thereof ”, but that “ no exemption shall be granted (a) if the income of the owner * * *…