A. The tax imposed by this chapter shall be subject to the exemptions set forth in this section.
B. Low-Income Homeowner Exemption. Exempt from this tax are owners of single-family residential units in which they reside whose combined family income, from all sources for the previous calendar year, is at or below the income level qualifying as "very low-income" for a family of such size under Section 8 of the United States Housing Act of 1937 [42 U.S C.A. Sections 1437 et seq.], for such year. The application process will be in the form of self-certification under penalty of perjury. Owners must apply for the exemption provided for in this section annually by petition to the Finance Director of the City in the manner and at the time set forth by the Finance Director. Such petitions shall be on forms provided by the Finance Director and shall provide such information as the Finance Director may require. If the Finance Director determines the need to audit an application, the Finance Director may require additional information, including, but not limited to, federal income tax returns and W-2 forms of owner-occupants eligible for this exemption.
(Ord. 760, 2006).