Any person 65 years of age or older or totally and permanently disabled (as determined by the Social Security Administration or the city may adopt any other standard or guideline) may defer special assessments levied against real property for public improvements if the following conditions are met.
(A) 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.
(B) 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.
(C) Net income.
(1) The applicant’s net income and net income of all other joint tenants, tenants in common or contract vendees in title to the property may not exceed 150% of the U.S. Census Bureau’s poverty threshold during the preceding year from the assessment levy.
(2) Net income determinations shall be made under a formula as set forth on a form provided by the city (or use of federal or state tax forms).
(Ord. 72, passed 10-15-2003)