LAKE PLACID — The Lake Placid Village Board of Trustees is considering a tax exemption for property owners with disabilities, according to a discussion at Monday’s board meeting.

If the board decides to move forward with this, the next step would be to draft a local law, according to Deputy Mayor Jackie Kelly. Then they would need to hold a public hearing before passing a resolution. Kelly said she hopes the public hearing would take place before the end of the year, preferably late November or early December.

The state allows municipalities the option to offer this tax exemption. Last October, the village board approved a similar exemption for volunteer firefighters and ambulance workers. The village also provides an exemption for seniors and veterans of the military. Kelly said it was brought to the board’s attention a year ago that they should offer the same benefit to residents with disabilities.

To be eligible for the exemption, in localities that offer it, all of the owners of a property must have an eligible disability, unless the property is owned by a married couple or siblings, in which case only one owner needs to have a disability.

It is incumbent upon residents to apply for this exemption by providing proof of disability. Those applications would be filed with the town assessor.

The state gives municipalities guidelines for determining income limits for the opt-in tax exemption. Kelly said they would utilize the same tax table used for the similar law applying to seniors to determine the maximum income for this law. The maximum income to be eligible would be $38,000 per year, which would qualify for a 5% reduction in the accessed value of the property.