A. An applicant meeting all eligibility requirements and the household income and asset tests is entitled to a one hundred percent (100%) abatement of the annual assessment payment then due.
B. An applicant who exceeds the household income and asset test in section 3.04.110 of this chapter, but who is otherwise eligible for an abatement may nonetheless remain eligible for a reduced abatement as follows:
1. The abatement is reduced by twenty percent (20%) for each two thousand four hundred dollars ($2,400.00) of household income in excess of the household income test;
2. The abatement is reduced by twenty percent (20%) for each two thousand four hundred dollars ($2,400.00) in excess of the twelve thousand dollars ($12,000.00) household asset test;
3. The grantee is obligated to pay the unabated portion of the assessment in the same manner and payment scheduled as is required of noneligible owners of property in the same improvement district. (Ord. 17-17)