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~ T'~ ~ ~H~ ~ODE OF THE CiTY OF PORTSMOUTH~ VIRGINIA~ <br />a~ ORD_NAN~ TO AMEND m~R ~ , <br />1961, BY AMENDING SECTIONS 10-65o4, 10-65.5 AND 10-65.6 PERTAIN- <br />ING TO R ~ <br /> EAL ESTATE TAX RELIEF FOR CERTAIN ELDERLY PERSONS. <br /> <br /> Be it ordained by the Council of the City of Ports- <br />mouth, Virginia: <br /> <br /> i. That the Code of the City of Portsmouth, Virginia, <br />!961, be amended by amending Sections 10-65.4, 10-65.5 and t~-65.6, <br />such amended sections to read as ~o!lows: <br /> <br />Section i0-65.4. Eligibility for exemption. <br /> <br /> An ex~ption shall be granted to persons eligible sub- <br />~ce_ to the following conditions: <br /> <br /> (a) The person or persons making application must <br />own or partially own title to the property for which exemption <br />is claimed. <br /> <br /> (b) The person or persons making application must <br />be 65 years or older as of June 30 of the immediately preced- <br />ing taxable year. tn the case of joint o%~ership between spouses <br />occupying such property, eligibility of either spouse by reason <br />of age shall establish eligibility of both° <br /> <br />owned or <br />dwelling <br /> <br /> (c) The person or persons making application shall have <br />partially o%~ned and occupied the property as their sole <br />for the preceding two calendar years. <br /> <br /> (d) ~ <br /> ~n~ person or persons making application shall not <br />have disposed of assets to future heirs within the preceding five <br />years if such assets would have made the applicant ineligible <br />~nder the requirements of this section. <br /> <br /> (e) The total combined income from all sources for the <br />immediately preceding calendar year of the ow~er or owners claim- <br />ing tax exemption and of the o'~ner's or owners' relatives or other <br />household member living in the subject dwelling shall not exceed <br />Nine Thousand Dollars ($9,000.00), provided that the first Twenty- <br />five Hundred Dollars of income of each relative other than spouse <br />or other household me~oer, of the owner or o~ers who is living <br />in the dwelling shall not be included in such total. <br /> <br /> (f). The net conjoined financial worth, !nclu~_ng' ~ equit- <br />able interests, as of the thirt ~-firs <br /> ~ t day of December of the im- <br />medzately preceding calendar year, of the o%~uler or owners and of <br /> <br /> <br />