(a) An alternative rate is provided for qualified property owners who are not less than sixty-five years of age or who are permanently and totally disabled and who are eligible according to the provisions of this chapter. Persons qualifying for the alternative rate are deemed to be bearing an extraordinary personal property tax burden in relation to their income and financial worth.
(b) The effective date of this chapter shall be January 1, 1992.
(Ord. 91-26. Passed 11-19-91.)