For the purposes of this chapter, the following definitions shall apply:
GRANTEE: A person who receives an abatement under this chapter.
HOUSEHOLD: The grantee, the grantee's spouse and any child of the grantee over age eighteen (18) years living in the assessed property.
HOUSEHOLD ASSETS: Stocks, bonds, certificates of deposit, savings accounts or other similar liquid assets which can easily be converted to cash, owned by the grantee, the grantee's spouse and any child of the grantee over the age of eighteen (18) years residing in the assessed property.
HOUSEHOLD INCOME: The aggregate gross income of the grantee, the grantee's spouse, if any, and any child of the grantee over age eighteen (18) years living on the premises during the twelve (12) months prior to the date the assessment payment is due, and is calculated as follows:
A. Except as provided in subsection B of this definition, one hundred percent (100%) of all private or government pensions, unemployment benefits, VA benefits, military retirement pensions, other general assistance and all other sources of income, regardless of source;
B. Fifty percent (50%) of the income which is derived from:
1. Old age survivors and disability payments under social security, and
2. Railroad retirement and survivors benefits. (Ord. 17-17)