Any person 65 years of age or older or totally and permanently disabled as determine by the Social Security Administration may defer special assessments levied against real property for public improvements if the following conditions are met.
(A) Ownership.
(1) The applicant must be the fee simple owner of the property or must be a contract vendee for fee simple ownership.
(2) 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 classified on the city’s and county’s real estate tax rolls as the applicant’s homestead.
(C) Net income. The applicant’s net income and net income of all other joint tenants, tenants in common or contract vendees entitled to the property may not exceed $10,000 during the preceding year for the assessment levy. The income determination shall be made under a formula as set forth on a form by the city.
(D) Total assets. The total assets for all members of the household does not exceed $50,000 in value (including homestead).
(E) Total assessment. The total special assessment exceeds $500.
(Prior Code, § 1D.03)