[Adopted 3-11-1971]
All real property situated in the Town of Schroeppel owned by
one or more persons, each of whom is 65 years of age or over, shall
be exempt from Town of Schroeppel tax levy to the extent of 50% of
the assessed valuation thereof.
Such exemption shall not be granted:
A.
If the income of the owner or the combined income of the owners of
the property exceeds the sum of $10,000 for the 12 consecutive months
immediately preceding the date of making application for exemption.
Where title is vested in either the husband or the wife, their combined
income may not exceed such sum. Such income shall include social security
and retirement benefits, interest, dividends, rental income, salary
or earnings and income from self-employment, but shall not include
gifts or inheritances.
[Amended 4-4-1983]
B.
Unless the title of the property shall have been vested in the owner
or all of the owners of the property for at least 60 consecutive months
prior to the date of making application for exemption.
C.
Unless the property is used exclusively for residential purposes.
D.
Unless the real property is the legal residence of and is occupied
in whole or in part by the owner or by all of the owners of the property.
To qualify for consideration for exemption, the application
for such exemption must be made by the owner or all of the owners
of the property, on forms to be furnished by the appropriate assessing
authorities, and shall furnish the information and be executed in
the manner required or prescribed in such form and shall be filed
in such Assessors' office at least 90 days before the day for filing
the final assessment roll.
Any conviction of having made any willfully false statement
in the application for such exemption shall be punishable by a fine
of not more than $100 and shall disqualify the applicant from further
exemption for a period of five years.
