§ 30-1. Exemption for elderly.

(a)

Thirty thousand dollars ($30,000.00) of the assessed value of residence homesteads of persons who have attained the age of sixty-five (65) years or older on or before the first day of January of any year shall be exempt from all taxation for all city purposes for that year; however, where the ad valorem tax has heretofore been pledged for the payment of any debt, the taxing officers of the city shall have authority to continue to levy and collect the tax against the homestead property at the same rate as the tax so pledged until the debt is discharged if the cessation of the levy would impair the obligation of the contract by which the debt was created.

(b)

This exemption shall apply to the January 1, 1986, taxes and each subsequent year thereafter.

(Ord. of 9-4-73, §§ 1, 2; Ord. of 9-22-80, §§ 1—3; Ord. No. 84-147, § 1, 9-18-84; Ord. No. 86-26, § 1, 2-17-86; Ord. No. 2003-O-180, § 1, 8-4-03)