Citizens of the Town of Coventry age 65 years
or older, 100% totally and permanently disabled, or, in the case of
husband and wife, if either is of age 65 years or older, with the
property held jointly in both names, who are otherwise eligible and
who own and reside in dwellings on real estate which are not income-producing
properties, may, if the combined annual income from all sources of
owners of title is $12,500 or less, apply annually for deferral of
the real estate taxes owing to the Town of Coventry assessed for each
year. Persons deemed by the Tax Assessor to be a hardship case shall
be eligible to participate in the program. All such deferrals shall
be subject to review by the Tax Assessor and approval of the Finance
Director and will be granted under the following conditions:
A. The applicant must have been a resident of Coventry
and must have owned and occupied the subject property for five years
prior to application.
B. Eligibility income criteria will be adjusted annually
based upon cost-of-living allowances as determined by the United States
Department of Social Security Administration. Income will be verified
by the Tax Assessor.
C. The current assessment of the Tax Assessor of the
Town of Coventry will be used as a basis for determining the eligibility
of the applicant, and no other real estate evaluation will be used.
D. The applicant must have reached his or her 65th birthday
or, in the case of husband and wife, one of them, on or before the
assessment date of the tax for which application for deferral is made,
and must apply during the month of December prior to the assessment
date for each year in which a tax deferral is applied for.
E. Deferrals will be considered only on applications
for single-family real estate dwellings which are not income-producing
and which are occupied by the applicant as a permanent year-round
residence.
F. The applicant may choose to defer a percentage of
the annual tax, not to exceed 75%, at his or her option.
G. The deferred tax shall become a lien upon the property,
and the applicant may remove the lien at any time by paying the amount
due in full plus interest. The lien shall be recorded by the Town
Clerk and shall continue until discharged by full payment of all deferred
taxes and all interest thereon.
H. Interest on deferred taxes shall accrue at the rate
established pertaining to delinquent tax accounts.
I. The applicant shall obtain a sufficient amount of
fire insurance as shall be required by the Director of Finance for
the protection of the Town's lien; the Town shall be named in said
policy of insurance as a lienor, and a certificate of the policy shall
be filed with the Director of Finance.
J. The applicant must reapply annually for each year's
deferment on the dwelling in which he resides. On an annual basis,
the applicant must submit to the Tax Assessor a statement of his prior
year's income as well as all income from all sources of all owners
of title as shall be required by the Director of Finance.
K. No corporation or partnership or other form of business
title holder shall be eligible for a tax deferment nor any holder
of life estate or remainder interest. Title ownership eligibility
shall be limited to owners in fee simple, joint tenants, tenants in
common and tenants by the entirety. In the case of joint tenants or
tenants in common, other than husband and wife, all such tenants must
be 65 years of age or older, 100% totally and permanently disabled
or impoverished and join in the application and the restriction of
gross income being $12,500 or less as for husband and wife, and shall
apply to such groups of tenants.