§ 46-1. Additional homestead tax exemption for senior citizens.

(a)

This section is adopted pursuant to Section 196.075, Florida Statutes, as amended, and Section 6(f), Article VII of the Florida Constitution to allow an additional homestead exemption of up to $50,000.00 for any person who has legal or equitable title to real estate and maintains thereon the permanent residence of such owner, who has attained age 65, and whose household income does not exceed $24,214.00, as of January 1, 2007, in accordance with the regulation established herein. The Household Income is to be adjusted annually by the change in the Consumer Price Index calculated on the first day of each year.

(b)

The words and phrases in this section shall have the meanings provided by Section 196.075, Florida Statutes, as amended, except where the context clearly indicates a different meaning.

(1)

Household means a person or group of persons living together in a room or group of rooms as a housing unit, but the term does not include persons boarding in or renting a portion of the dwelling.

(2)

Household income means the adjusted gross income, as defined in Section 62 of the United States Internal Revenue Code, of all members of a household.

(c)

Exemption authorized.

(1)

In accordance with Section 6(f) Article VII of the Florida Constitution and Section 196.075, Florida Statutes, as amended, the Town Council hereby authorizes an additional homestead exemption of $50,000.00 commencing with the year 2008 for any person who has legal or equitable title to real estate and maintains thereon the permanent residence of such owner, who has attained age 65, and whose household income does not exceed $24,214.00, as of January 1, 2007. The household income is to be adjusted annually by the change in the Consumer Price Index calculated on the first day of each year.

(2)

Beginning January 1, 2008, such person's $24,214.00 household income limitation shall be adjusted annually, on January 1, by the percentage change in the average cost-of-living index in the period January 1 through December 31 of the immediate prior year compared with the period for the year prior to that. The index is the average of the monthly consumer price index figures for the stated 12-month period, relative to the United States as a whole, issued by the United States Department of Labor.

(3)

Persons receiving such additional homestead tax exemption shall be subject to the provisions of Sections 196.131 and 196.161, Florida Statutes, as amended, if applicable, pertaining to wrongful receipt of a homestead tax exemption.

(d)

It is the intent of the town in establishing this section that it be and is hereby empowered to rescind this additional homestead tax exemption at the end of any particular year should it be determined in the sole discretion of the town council that there is an adverse financial impact of such an exemption, and it no longer serves the best financial interest of the town.

(e)

The additional homestead tax exemption established hereunder shall apply only to taxes levied by the Town of Cinco Bayou.

(f)

Application for exemption.

(1)

Those persons entitled to the homestead tax exemption in Section 196.031, Florida Statutes, as amended, may apply for and may receive an additional homestead tax exemption as provided in this section.

(2)

A taxpayer claiming the additional homestead tax exemption provided under this section shall annually submit to the property appraiser, no later than March 1, a sworn statement of household income on a form prescribed by the Department of Revenue.

(3)

The filing of the statement of the taxpayer shall be supported by copies of any federal income tax returns for the prior year, any wage and earnings statement (W-2 forms), and any other documents the Department of Revenue finds necessary, for each member of the household, to be submitted by June 1. The taxpayer's statement shall attest to the accuracy of such copies. The property appraiser may not grant the exemption without the required documentation.

(4)

If title is held jointly with right of survivorship, the person residing on the subject property and otherwise qualifying may receive the entire amount of the additional homestead tax exemption.

(Ord. No. 189, §§ 1—6, 11-29-01; Ord. No. 214, §§ 1, 2, 7-14-11)