All existing residential and commercial structures at least 25 years old may qualify for a reassessment moratorium if:
(A) The costs of the improvements made to the structure to repair, rehabilitate, restore, or stabilize it equal at least 25% of the value of the improvements to the property based on the latest assessment made by the County Property Valuation Administrator; or
(B) The qualifying property is within a "target area", a census tract where at least 70% of the residents living in that tract have incomes below 80% of the median income for Jefferson County or 20% of the residents living in that tract have incomes below the poverty level, the cost of the improvements must be equal 8 to at least 10% of the value of the improvements to the property based on the latest assessment.
(Ord. 90-12, passed 11-27-90)