(b) No exemptions shall be granted if the income of the owner(s) or the combined income of all the owner(s) and spouse of the property exceeds $18,500 for the income tax year immediately preceding the date of the making application for exemption, except as otherwise provided for in subdivision (c).

(c) Pursuant to the Real Property Tax Law Section 467, the sliding scale option is as follows:

$ -0- to $18,500.00 - 50%

$18,500.01 to $19,500.00 - 45%

$19,500.01 to $20,500.00 - 40%

$20,500.01 to $21,500.00 - 35%

$21,500.01 to $22,400.00 - 30%

$22,400.01 to $23,300.00 - 25%

$23,300.01 to $24,200.00 - 20%

$24,200.01 to $25,100.00 - 15%

$25,100.01 to $26,000.00 - 10%