Sec. 31-86. - Exemption granted.

Upon compliance with all requirements of this article and all other applicable laws and resolutions, sixty-five thousand dollars ($65,000.00) of the assessed value of residence homestead of persons sixty-five (65) years of age or older shall be exempt from ad valorem taxes levied by the city.

(Code 1959, § 14-58: Ord. No. 42679, § 1(1), 8-23-73; Ord. No. 44159, 8-1-74; Ord. No. 58152, § 1, 1-19-84; Ord. No. 62252, § 1, 1-30-86; Ord. No. 97234, § 2, 2-20-03)

Sec. 31-87. - Effective date.

The exemption granted by this article shall be effective as to such residence homesteads as may qualify hereunder commencing with the 2003 tax year.

(Code 1959, § 14-59; Ord. No. 42679, § 1(2), 8-23-73; Ord. No. 44159, 8-1-74; Ord. No. 58152, § 2, 1-19-84; Ord. No. 62252, § 2, 1-30-86; Ord. No. 97234, § 3, 2-20-03)

Sec. 31-88. - Limitations of exemption.

The exemption authorized hereby shall extend only to a residential homestead as same may be defined by the laws of the state. Such exemptions shall be allowed only if the property in question is in fact a residential homestead of the applicant and such person has attained the age of sixty-five (65) during the tax year.

(Code 1959, § 14-62: Ord. No. 42679, § 1(5), 8-23-73; Ord. No. 44159, 8-1-74; Ord. No. 97234, § 4, 2-20-03)

Sec. 31-89. - Determinative date for exemption.

The exemption for an individual sixty-five (65) years of age or older is effective as of January 1 of the tax year in which such person qualifies for the exemption (attains the age of sixty-five (65)) and applies to the entire tax year.

(Code 1959, § 14-63; Ord. No. 42679, § 1, 8-23-73; Ord. No. 4415, 8-1-74; Ord. No. 97234, § 5, 2-20-03)

Secs. 31-90—31-115. - Reserved.