City homeowners who meet requirements including age, income and assets may qualify for deferral of real estate tax.
For example, applicants must own and reside in the home and be at least 65 years old by
For those who qualify, the tax is postponed and must be paid upon the sale or transfer of title. Deferred taxes constitute a lien upon the real estate.
The applicant may elect to defer less than 100 percent. Qualified homeowners should consult with their mortgage company regarding the deferral of tax, the city says.
The deadline for filing a 2014 application is
Residents may contact the city's Commissioner of the Revenue's office at 757-926-3535 for more information or for an application, which are also available online at http://www.nngov.com/cor.
Clift can be reached at 715-247-7870.
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