Definitions for the circuit breaker tax credit

Wherever used in this article, the following definitions apply: "Circuit breaker tax credit" means the tax credit established in accordance with section 3.48.810 . "Homeowner" means a person who has been granted a home exemption claim under section 3.48.450 . "Homeowner property" means the property on which a homeowner filed and was granted a home exemption claim under section 3.48.450 , and: 1. The entire tax map key parcel the property is located on. 2. The principal home of the homeowner located on such parcel. 3. All other buildings, structures, fences, and improvements located on such parcel. "Household" means a homeowner, spouse of the homeowner, and any titleholders living on the homeowner property. "Household income" means the gross income, as defined by the Internal Revenue Service, of a household for the year preceding the tax year in which an application for circuit breaker tax credit is filed. "Titleholder" means any person or entity listed on the deed or other legal instrument of record establishing an ownership interest in the property. The term includes corporations and other business entities, but does not include mortgage lenders. ( Ord. No. 5108 , § 3, 2020; Ord. No. 4136, § 4, 2014; Ord. No. 4028, § 2, 2013)