§ 4-14-2. Eligibility for exemptions.  


Latest version.
  • A.

    Any persons not less than 65 years of age or any person permanently and totally disabled as provided in Section 4-14-3, or any person or husband and wife who owns a dwelling jointly wherein at least one spouse is not less than 65 or is permanently and totally disabled, by December 31 of the year preceding the date of the application, who owns, or partially owns, a dwelling as the sole dwelling and residence of that person or persons during the year for which the exemption is sought, shall be eligible for, and may apply for, an exemption from real estate taxes specified in Section 4-14-5 on such dwelling and the land, not exceeding one acre, upon which that dwelling is located; provided that the applicant or applicants satisfy the conditions of subsection C of this Section.

    B.

    Notwithstanding the provisions of subsection A of this Section, if during the calendar year a person reaches the age of 65 or is certified as being permanently and totally disabled in accordance with Section 4-14-3, and if any such person is otherwise eligible for the tax relief benefits provided by this Article, then that person may apply to the Director for tax relief benefits for the remaining portion of the calendar year. All such benefits shall be prorated on monthly basis from the month in which the applicant became eligible to the end of the calendar year unless there is a disqualifying change in ownership, income, or financial worth as provided in Section 4-14-4. In the event that there is such a disqualifying change, then the benefits shall be limited in the manner specified by Section 4-14-4.

    C.

    (1)

    In order to receive a 100 percent exemption from real estate taxes, the total combined income during the immediately preceding year shall not be greater than $52,000.00. In order to receive a 50 percent exemption from real estate taxes, the total combined income during the immediately preceding year shall be greater than $52,000.00, but shall not be greater than $62,000.00. In order to receive a 25 percent exemption from real estate taxes, the total combined income shall be greater than $62,000.00 but shall not be greater than $72,000.00.

    (2)

    The net combined financial worth, as defined in Section 4-14-1, as of December 31 of the immediately preceding year, shall not exceed $340,000.00. (11-24-71; 1961 Code, § 25-101; 43-74-25; 15-77-4; 27-79-4; 24-80-4; 29-81-4; 29-86-4; 22-87-4; 31-89-4; 23-00-4; 19-02-4; 38-03-4; 14-04-4; 39-05-4.)