Chapter 75 FINANCE AND TAXATION.

75-16    TAX RELIEF FOR THE ELDERLY OR DISABLED - CHANGES IN STATUS

Changes in respect to income, financial worth, ownership of the property or other factors occurring during the taxable year for which the affidavit is filed and having the effect of exceeding or violating the limitations and conditions provided in this Article shall nullify any relief of real estate or assessment exemption or deferral for the then current taxable year and the taxable year immediately following; provided, however, that the change in ownership to a spouse, when such changes results solely from the death of the qualifying individual, shall result in a pro-rated exemption or deferral for the then current taxable year.  Such pro-rated portions shall be determined by multiplying the amount of the exemption or deferral by a fraction, wherein the number of complete months of the year such property was properly eligible for exemption or deferral is the numerator and the number twelve (12) is a denominator.

(Ord. No 7-88 Amended 9-12-88-Effective 1-1-89;Ord. No. 8-04 Amended 6-14-04-Effective 7-1-04)

(Ord. No. 11-04 Amended 10-11-04-Effective 11-1-04)