1.Definitions.
As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
2.Authority.
The legislative body of a municipality may by ordinance adopt a stabilization and partial property tax deferral program to provide benefits to seniors with homesteads in the municipality. The ordinance must:
3.Application.
A municipality that adopts a program shall develop an application for the program and establish a due date for a taxpayer to submit an application. A taxpayer may apply to the municipality in which the taxpayer's homestead is located requesting that the municipality stabilize the amount of property tax assessed on that individual's homestead and defer the payment and collection of property taxes on the homestead in excess of the
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1.
Definitions.
As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
2.
Authority.
The legislative body of a municipality may by ordinance adopt a stabilization and partial property tax deferral program to provide benefits to seniors with homesteads in the municipality. The ordinance must:
3.
Application.
A municipality that adopts a program shall develop an application for the program and establish a due date for a taxpayer to submit an application. A taxpayer may apply to the municipality in which the taxpayer's homestead is located requesting that the municipality stabilize the amount of property tax assessed on that individual's homestead and defer the payment and collection of property taxes on the homestead in excess of the stabilized taxes in the subsequent year. A new application is required for each year for which stabilization is requested, subject to conditions set forth in the municipal ordinance that adopts the program, which may include a grace period for reapplication each year or automatic disqualification from the program for failure to file an application as required by ordinance. The municipality shall determine by ordinance whether taxpayers may be eligible to participate in the program with a new application following disqualification.
4.
Stabilization and deferral.
If a taxpayer satisfies the eligibility criteria set forth in the municipal ordinance establishing the program and satisfies the municipal application criteria, the municipality shall stabilize the amount of property tax assessed on the taxpayer's homestead as of the most recent April 1st assessment prior to application for the program. The municipality shall then defer the payment and collection of property tax assessed on the eligible homestead in excess of the stabilized taxes in subsequent years, as long as the taxpayer remains eligible for the program as set forth in this section and the municipal ordinance authorizing the program.
5.
Events requiring the payment of deferred tax and interest.
Subject to subsection 7, all deferred property taxes and accrued interest must be paid pursuant to subsection 6 when:
6.
Lien.
When it is determined that one of the events set out in subsection 5 has occurred and that a property is no longer eligible for partial property tax deferral under this section, the municipality shall send notice by certified mail to the taxpayer, or the taxpayer's heirs or devisees, listing the total amount of deferred property taxes, including accrued interest and costs of all the years and establishing a due and payable date. For events listed in subsection 5, paragraphs A, B, C and E, payment is due within 45 days of the date of the notice. When the event listed in subsection 5, paragraph D occurs, the total amount of deferred property taxes is due and payable 5 days before the date of removal of the property from the State. The municipality shall include in the notice a statement that the lien enforcement procedures pursuant to chapter 105, subchapter 9 apply. If the deferred property tax liability of a property has not been satisfied by the date established pursuant to this subsection, the municipality may enforce the lien according to procedures in chapter 105, subchapter 9.
7.
Transfer of eligibility.
If one of the events listed in subsection 5 occurs, and the ownership of the eligible homestead is transferred to another member of the same household, the transferee may apply to the municipality for continuation of the stabilization and partial property tax deferral if the transferee meets the conditions of this section and the municipal ordinance authorizing the program.
8.
Repeal of program.
A municipality that has adopted a program may discontinue it through the same procedure by which the program was adopted except that any property taxes deferred under the program continue to be deferred under the conditions of the program on the date it was ended.