The Town Council finds a legitimate interest
in providing owner-occupied dwelling units with a reduction in real
estate property taxes and hereby adopts a uniform procedure for the
application of the homestead exemption.
The Town Administrator, upon approval of the Town Council, is
hereby authorized to annually fix the amount of the homestead exemption
with respect to the assessed value on taxable owner-occupied real
property used for residential purposes and to grant homestead exemptions
to such owner-occupied residential real estate in an amount not to
exceed 35% of the assessed value.
Any such exemption shall only apply to residential property
improved with a dwelling house. Any such owner-occupied dwelling house
shall consist of no more than five dwelling units. This exemption
shall not apply to any mixed-use properties containing partial commercial
or business uses and shall not apply to vacant land.
Applicants for the homestead exemption shall submit completed
application forms to the office of the Tax Assessor on or before April
15 of the tax year for which the exemption is sought. In order to
qualify and apply for the homestead exemption, the taxpayer must be
the owner of record of the subject property on or before December
31 of the year immediately preceding the application. For illustrative
purposes, taxpayers seeking the homestead exemption for the 2014 tax
year, with the first quarterly tax payment due by July 31, 2014, must
be the owner of record on or before December 31, 2013, and must file
the application on or before April 15, 2014. Any application made
after the April 15 deadline shall not be considered valid for an exemption
or an abatement in that tax year. The applications shall be available
at the office of the Tax Assessor and shall be in a form and substance
approved by the Town Solicitor. The Tax Assessor, in his/her sole
discretion, shall be authorized to reject any incomplete or inaccurate
applications. If the application is rejected, the homeowner/taxpayer
may reapply for the exemption the following year.