City Council Minutes 2007 10 02 - Laserfiche WebLink

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City Council Meeting Minutes October 2, 2007 Page 3 of 12 ORDINANCE No. 1515, SERIES 2007 - AN ORDINANCE REPEALING CHAPTER 3.12 OF THE LOUISVILLE MUNICIPAL CODE CONCERNING TAX RELIEF FOR THE ELDERLY - 2"d Reading -Public Hearing ORDINANCE No. 1521, SERIES 2007 - AN ORDINANCE AMENDING SECTION 3.12.060 OF THE LOUISVILLE MUNICIPAL CODE, CONCERNING TAX RELIEF FOR THE ELDERLY, TO ESTABLISH CERTAIN ADDITIONAL ELIGIBILITY RESTF;ICTIONS - 2ND Reading -Public Hearing Mayor Sisk requested a City Attorney introduction. City Attorney Light read Ordinances No. 1515 and No. 1521, Series 2007. He noted there are second reading <~mendments to Ordinance No. 1515. Mayor Sisk opened the public: hearing and requested a Staff presentation. City Clerk Varra reviewed the history of the City's Tax Relief for the Elderly Program, which provided a cash rebate of the City's mill levy to qualifying seniors and the State of Colorado Homestead Exemption, which provides relief for seniors who have owned and lived in their homes for 10 years or more. In light of the increased value qualifying seniors can now receive from the state exemption and the City's current budget constraints, Staff brought this issue to the City Council for discussion and direction. Council was presented with two ordinances for consideration: Ordinance No. 1515 and Ordinance No. 1521, Series 2007. At the September 4, 2007 City Council meeting Council discussed restructuring the existing property tax rebate program to an income based program. Ordinance No. 1515, Series 2007 repeals the senior property tax rebate program and contains second reading amendments, which provide for the restructure of the income-based water rebate program. To qualify for a water use rebate payment, an applicant must meet all of they following requirements: 1) The applicant or spouse must be 65 years of age or older by August 1 of the year in which the application is submitted. 2) The applicant must have been a resident of the city for a majority of the calendar year in which the application is made. 3) The applicant must have paid property taxes or rent on or for a dwelling unit on which property taxies were assessed for a majority of the calendar year preceding the year in which the application is submitted. 4) The applicant's total annuial household income does not exceed $25,000. 5) Application for payment shall be verified by the applicant and must be made within such time as is established by the Director of Finance. The maximum amount of the annual water use rebate paid to a qualifying applicant shall be $100.00. Such amount shall be paid either by city check or