A. Certificate Of Discharge Of Property Subject To Lien: If any property, real or personal, shall be subject to a lien for the payment of any tax due the City, the Director may issue a certificate of discharge of any part of the property subject to the lien if the Director finds that the fair-market value of that part of the property remaining subject to the lien is at least double the amount of the liability remaining unsatisfied in respect to the tax and the amount of all prior liens upon the property.
B. Certificate Of Discharge To Part Of Property: If any property, real or personal, shall be subject to a lien for the payment of any tax due the City, the Director may issue a certificate of discharge of any part of the property subject to the lien if there be paid over to the Director in part satisfaction of the liability in respect to the tax an amount determined by the Director, which shall not be less than the value, as determined by the Director, of the interest of the City in the part to be so discharged.
C. How Values Determined: In determining the values, the Director shall give consideration to the fair-market value of the part to be so discharged and to the lien or liens thereon as shall have priority over the lien of the City.
D. Certificate Of Release Conclusive: A certificate of release or of partial discharge issued under this section shall be held conclusive that the lien of the City upon the property released therein is extinguished, but shall not extinguish nor release any portion of the lien property not specified in the release. (1968 Code §3-101; Ord. 76-168; Ord. 01-42)