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d <br />General Information <br />Deferred Payment on Special Assessments <br />1. Senior Citizens and persons retired by virtue of pei-rrsanent and tatal dis- <br />ability special assessment hardship defexrals, applies to special assess- <br />ments levied after July 27, 198I. <br />2. Property must be classi.fa.ed as }lomestcad. <br />3. One or more of the owners is G5 years o£ age or older. <br />4. It shall be presumed that a proper�y owner is retired from employment by <br />virtue of a permanent and totai disability i£: <br />A. 'Fhe individual has in fact retired from employment; and <br />$• The individual suffers from the total and permanent lvss of the sight <br />of both eyes, the loss of both arms at the shoulder, the loss of botli <br />legs so close to the hips that no e£fective ar�z£icia� membexs can be <br />used, comple�e and permanent paralysis, total and permanent ioss of <br />mental faculties, or any other injury which to�ally inca�acitates the <br />person from worki�g at an occupation which brings an income. <br />S. It would create a hardship for the owner(s) of the property to pay the <br />special assessment ins�ta].lments as they become due. <br />A.. A hardship exists if the annual average assessment exceeds i% o£ <br />the previous yeax's toLal adjusted gross income, £or federal incame <br />tax purpases, for ail owners of the pxoperty. <br />B. In no e�ent shall total adjusted gro5s income include: <br />1. Social security bene£its <br />2. Razlroad retirements <br />3. Retzrement benefifis attributable to emplayee contributions <br />4. �isability benefits <br />5. 4�'orkmen's compensation benefits <br />fi. In cases where exceptiona2 and unusual circ�unstances exist, the City <br />Council may determine that a hardship�exists despite the £act that the <br />minimum income requirements ars not raet. � . <br />7. Termination of Deferrment � ' � � <br />A. Request of propertY owner. <br />B, Death of property owner who qualifies for the de£erral, providing <br />the surviving owner is otherwise not eligible for the deferraJ.. <br />C. Sale, transfer o� subdi�zsion of the progeriy, or any part thereof. <br />D. The City determines that a hardship no Zonger exists, <br />TYPTGAL ASSESShiEiVT EXAI�IPL�S <br />8a Interest for 20 years <br />Assessment Total payment Average Annual <br />Amount (incl. interest) Ins�allment <br />$ 2QO.G0 <br />300.00 <br />400.p0 <br />500.00 <br />600.00 <br />�ao.00 <br />800.00 <br />900.00 <br />�,000.ao <br />$ 374.00 <br />561.Q0 <br />748.�0 <br />935.g0 <br />1,222.00 <br />�,3os.ao <br />I,49b.00 <br />1,b83.00 <br />�,s�o.oa <br />$18.70 <br />28.05 <br />37.40 <br />4b.75 <br />56.1D <br />b5.45 <br />74.80 <br />84.15 <br />93.50 <br />Maximum Income <br />for Deferrment <br />$2,869.00 <br />2,804.00 <br />3,739.OQ <br />4,674.00 <br />5,609.00 <br />6,544.00 <br />7,479.00 <br />8,aI4.Q0 <br />9,34�J.00 <br />� <br />