Agenda - Council - 10/25/1983 - Laserfiche WebLink

Home

I I I I '1 I 3. Interest on Deferred Assessment. Interest on the deferred assessment shall accrue at the same rate as on non-deferred assessments. Interest shall cease to accrue on the date ~hen the assessment ~-ould have been paid in full had it not been deferred. The maximum amount due on the assessment will then be the original assessment plus interest accrued during the original assessment term. 4. Termination of Right to Deferred Payment. The option to defer the payment of special assessments shall term/nate and all amounts accumulated plus applicable interest shall become due upon the occurrence of any of the following events: (a) the death of the o~ner~ provided that the spouse is otherwise not eligible for the benefits of this Section; (b) the sale, transfer or subdivision of the property or any part thereof; (c) if the property should for any reason lose its homestead status; or (d) if for any reason the City Council shall deter~ine that there ~ould be no hardship to require i~mediate or partial payment. 5. Standards and Guidelines for Determining the Existence of a Hardship I I I I I I I I I I I and a Disability. A. A hardship shall be deemed prima facie to exist when all of the following apply: a. The annual gross income of the applicant according to his most recent federal income tax return plus his tax-exempt income does not exceed $11~000.00. If no such return ~ras made~ the clerk/administrator shall require the applicant to submit other pertinent infomtion to show that this qualification is mot. b. The average annual payment due for all assessments levied against the property exceeds t~o (2%) per cent of the applicant's income as thus calculated. c. The special assessments to be deferred exceed $300.00. d. The applicant~s total assets exclusive of the homestead do not exceed $20~000.00. Notwithstanding the foregoing provisions of this subdivisions the City Council ~ay consider exceptional and unusual circumstances pertaining to an applicant not covered by the above standards; but any determination shall be made in a nondfscri~natory manner and shall not give the applicant an unreasonable preference or advantage over other applicants. B. Retirement by reason of per~anent and total disability shall be deemed prima facie to exist ~hen the applicant presents a s~orn affidavit by (2) licensed ~edical doctors attesting that the applicant is unable to be gainfully employed because of a permanent and total disability. SKCTION 2. KFFKCTIVK DATK This Ordinance shall be effective upon its passage and publication.