Laserfiche WebLink
<br />exemptions for the then-current taxable year and the taxable year immediately <br />following. <br /> <br />(5) In the event the person or persons claiming exemption qualify therefor, the <br />amount of said exemption shall be as shown on the following schedule, which <br />shall be effective retroactively to July 1, 2006: <br /> <br />Total Income <br />From All Sources <br />$0.00 $10,000.00 <br />$10,001.00 $12,000.00 <br />$12,001.00 $13,000.00 <br />$13,001.00 $14,000.00 <br />$14,001.00 $15,000.00 <br />$15,001.00 $16,000.00 <br />$16,001.00 $17,000.00 <br />$17,001.00 $18,000.00 <br />$18,001.00 $19,000.00 <br />$19,001.00 $20,000.00 <br /> <br />$0.00 - $12,500.00 <br />$12,501.00 - $14,150.00 <br />$14,151.00 - $15,825.00 <br />$1~82600-$1~50QOO <br />$17,501.00 - $19,150.00 <br />$19,151.00 - $20,825.00 <br />$20,826.00 - $22,500.00 <br />$22,501.00 - $24,150.00 <br />$24,151.00 - $25,825.00 <br />$25,825.00 - $27,500.00 <br /> <br />Tax <br />Exemption <br />100% <br />90% <br />80% <br />70% <br />60% <br />50% <br />40% <br />30% <br />20% <br />10% <br /> <br />However, a change in property ownership to a spouse (a qualifying person to a non- <br />qualifying person), when such change resulted solely from the death of the <br />qualifying individual, or a sale of such property shall result in a prorated exemption <br />of such relief granted for the then-current taxable year. The proceeds of the sale <br />shall not be included in the computation of new worth or income as provided in <br />subsections (b)(1) and (b )(2) herein. <br /> <br />(6) Regardless of the figures shown on the foregoing schedule, no exemption <br />granted hereunder shall exceed the amount of four hundred dollars ($400.00). <br /> <br />Attest: <br /> <br />Susan N. Johnson, Clerk of Council <br /> <br />Date Adopted <br /> <br />Date Effective <br /> <br />******* <br />