(A) Special assessment deferral. Pursuant to M.S. §§ 435.193 through 435.195, as they may be amended from time to time, senior citizens and retired disabled homeowners may defer special assessments levied against homestead property owned by the applicant if the criteria set forth in this section are met by the applicant.
(B) Eligibility. Any person 65 years of age or older or totally and permanently disabled as determined by the Social Security Administration may defer special assessments levied against real property for public improvements if the following conditions are met.
(1) Ownership. The applicant must be the fee simple owner of the property or must be a contract vendee for fee simple ownership. An applicant must provide either a recorded deed or contract for deed with the application to establish a qualified ownership interest as required herein.
(2) Homestead. The property must be the applicant’s principal place of domicile and classified on the city’s and county’s real estate tax rolls as the applicant’s homestead.
(3) Net income. The applicant’s net income and net income of all other joint tenants, tenant in common or contract vendees in title to the property may not exceed the Section 8 income limit as determined by the Department of Housing and Urban Development for the county for the year preceding the year in which the deferral is requested.
(C) Interest on deferred assessment. All deferred special assessments shall be subject to and charged simple interest at a rate established by the City Commission at the time of the deferral. The interest shall be payable upon termination of the deferral status.
(D) Termination of deferral status. Special assessment payments deferred pursuant to this section shall become payable effective upon the occurrence of one of the following events:
(1) Sale of the property. The subject property is sold, transferred, subdivided or in any way conveyed to another by the fee owner qualified for deferral status;
(2) Death of owner. The death of the fee owner qualified for deferral status unless a surviving joint tenant, tenant in common or contract vendee is eligible for the deferral benefit provided hereunder;
(3) Non-homestead property. The subject property loses its homestead status for any reason; or
(4) No hardship. The City Commission determines, in its sole discretion, that there would be no hardship to require an immediate or partial payment of the deferred special assessment.
(E) Filing for deferral status.
(1) An eligible applicant must file an application on or before September 15 of the year preceding the year for which deferral status is requested in order to implement the deferral program for the year.
(2) All deferral applications must be made on forms approved by the city and submitted to the City Clerk.
(3) If a deferred assessment is granted, the County Auditor shall record a notice thereof with the County Recorder setting fourth the amount of the assessment and the rate of interest thereon.
(Ord. 69, passed 12-14-1999)