City Council Minutes 2007 04 17 - Laserfiche WebLink

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City Council Meeting Minutes April 17, 2007 Page 4 of 10 Mayor Sisk requested a City Attorney introduction. City Attorney Light read Ordinance No. 1518, Series 2007. MOTION: Mayor Sisk moved to approve Ordinance No. 1518, Series 2007 on first reading, send it out for pUlblication, and set a public hearing for May 15, 2007, seconded by Council member Clabots. All in favor. Absent: Mayor Pro Tem Brown. ORDINANCE No. 1515, SERIES 2007 - AN ORDINANCE REPEALING CHAPTER 3.12 OF THE lOUISVlllE MUNICIPAL CODE CONCERNING TAX RELIEF FOR THE E~lDERl Y - 2nd reading - Public Hearing Mayor Sisk requested a City Attorney introduction. City Attorney Light read Ordinance No. 1515, Series 2007. Mayor Sisk opened the public hearing and requested a Staff presentation. Finance Director Leslie explained the Senior Property Tax Homestead Exemption in Colorado was designed to provide relief for seniors, 65 years and older. To qualify, they must have owned and lived in their home for 10 years; be at least 65 years old on January 1 . The City of Louisville approved Ordinance No. 430 in 1973, which provided financial relief for elderly citizEms of Louisville, 65 years and older, through a cash rebate of the City's mill levy. In 2004, the City implemented a cap on the home value at $250,000. To qualify, the must be 65 years of age or older by August 1; a resident of the city; paid property taxes or rent on or for a dwelling unit in which property taxes were assessed for all or part of the calendar year. Finance Director Leslie brought a proposal to the Finance Committee to repeal the City's property tax rebate program in lieu of the reinstatement of the State's program. The City refunds $32,000 a year in property tax rebates. The Finance Committee directed the Staff to proceed with the repeal of the ordinance. The repeal of the City's program will impact seniors who have lived in their homes for less than 10 years. Those seniors who are eligible may apply for a refund up to $496.84 per year. PUBLIC COMMENT Robert Pierce, 1827 Eisenhower Drive, Louisville, CO addressed the present program, which also covers senior who rent. He voiced his objection to the repealing of the ordinance stating it would hurt senior's who rent, and only receive Social Security.