Each eligible resident shall be entitled to up to, but not to exceed, a $2,000 reduction in property taxes otherwise due from that resident for the fiscal year next following the certification date. The tax abatement under this subchapter shall be applied first as against any real property taxes owing to the town and then against any motor vehicle taxes owing to the town. In the event that the tax to which the abatement is applied is paid in installments, then the exemption shall be applied 50% to each installment. The Tax Collector of the town shall maintain a record of all taxes abated in accordance with this subchapter.
(Ord. passed 5-17-2001; Ord. passed 6-15-2022)