§ 775-18. Exemption granted.

Real property owned by one or more persons with disabilities, or real property owned by a husband, wife, or both, or by siblings, at least one of whom has a disability, and whose income, as hereafter defined, is limited by reason of such disability, shall be exempt from taxation by any municipal corporation in which located to the extent of 50% of the assessed valuation thereof as hereinafter provided in the following schedule:

	Annual Income	Percentage of Assessed Valuation Exempt From Taxation
	More than (M) but less than (M + $1,000)	45%
	(M + $1,000) or more but less than (M + $2,000)	40%
	(M + $2,000) or more but less than (M + $3,000)	35%
	(M + $3,000) or more but less than (M + $3,900)	30%
	(M + $3,900) or more but less than (M + $4,800)	25%
	(M + $4,800) or more but less than (M + $5,700)	20%
	(M + $5,700) or more but less than (M + $6,600)	15%
	(M + $6,600) or more but less than (M + $7,500)	10%
	(M + $7,500) or more but less than (M + $8,400)	5%

M = maximum income exemption eligibility level.