Chapter 75 FINANCE AND TAXATION.

75-17.1    POSTPONEMENT OF PAYMENT FOR LOCAL IMPROVEMENT ASSESSMENTS - ELIGIBILITY; DEFERRAL; REQUIREMENTS

75-17.1            ELIGIBILITY; DEFERRAL; REQUIREMENTS

A.  Any elderly or permanently and totally disabled property owner who meets the eligibility requirements for age and/or disability and/or income and financial worth, as more particularly set forth in Sections 75-11 and 75-13A through E of the Front Royal Town Code pertaining to tax relief for the elderly or disabled, and who otherwise is eligible under the requirements of state law set forth in Article 2 and Article 2.1 of Chapter 32 of the Code of Virginia (Sections 58.1-3210 through 58.1-3219.3), as amended), may apply to the Town Treasurer for a postponement in the payments of any assessment for local improvements made against the property owner by the Town of Front Royal in accordance with its authority under Code of Virginia, Section 15.1-239 et seq.

B.  Application for postponement shall be made in accordance with the provisions established under Sections 75-12 and 75-14B through E of the Front Royal Town Code pertaining to tax relief for the elderly and disabled.  No application shall be permitted until such time as the lien of assessment is due and owing to the town.  Application may be made at any time during the calendar year.

C. Payment of assessment.

1. Upon approval of the application by the Town Treasurer, payment of the assessment in question shall be postponed until one (1) of the following occurs:

  a. Sale, gift or transfer of the real property subject to the assessment.

  b. Death of the last eligible owner.

  c. Loss of eligibility under this Article by the property owner.

2. In accordance with the requirements of the Code of Virginia Section 58.1-3219.1, the postponed assessment payment shall be subject to statutory interest computed at the rate       established pursuant to Section 6621 of the United States Internal Revenue Code.  All accumulated assessment payments and interest shall be paid immediately on sale, gift or transfer of the property, or shall be due and payable immediately upon loss of eligibility by the property owner or shall be paid within one (1) year of the date of death of the last qualifying owner, as applicable.

(Ord. No. 13-93 Amended(C)(2) 10-11-93-Effective Upon Passage)

D. Property owners qualifying for postponement under this Article shall be required to report changes in status as provided in Town Code Section 75-16.

E. Violators of this Article shall be punished as provided in Town Code Section 75-17.