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SECTION 1 . DEFINITIONS . For the purposes of this Ordinance , the following terms shall have the meanings indicated below: (a ) " Household " means a person or group of persons living together in a room or group of rooms as a housing unit, but the term does not include persons boarding in or renting a portion of a dwelling . (b ) " Household income " means the adjusted gross income , as defined in s . 62 of the United States Internal Revenue Code , of all members of a household . (c) " Property appraiser" means the Indian River County Property Appraiser. SECTION 2 , ADDITIONAL HOMESTEAD EXEMPTION . Pursuant to the provisions of Section 196 . 075 , Florida Statutes (2000) , beginning January 1 , 2002 , an additional homestead exemption in the amount of twenty-five thousand dollars ($25 , 000) , which additional homestead exemption applies only to taxes levied by Indian River County , its dependent special districts , and its municipal service taxing units , shall be allowed for any person who has legal or equitable title to real estate and maintains thereon the permanent residence of the owner, who has attained age sixty- five (65) , whose household income does not exceed twenty thousand six hundred eighty dollars ( $ 20 , 680) as adjusted in accordance with Section 3 of this Ordinance , and who submits to the property appraiser a sworn statement of household income in accordance with Section 4 of this Ordinance . SECTION 3 , ADJUSTMENT OF INCOME LIMITATION , Beginning January 1 , 2002 , the twenty thousand six hundred eighty dollar ($ 20 , 680) income limitation shall be adjusted annually , on January 1 , by the percentage change in the average cost-of- living index in the period January 1 through December 31 of the immediate prior year compared with the same period for the year prior to that . The index is the average of monthly consumer-price-index figures for the stated twelve ( 12 ) month period , relative to the United States as a whole , issued by the United States Department of Labor. SECTION 4. ANNUAL SUBMITTAL REQUIRED . A taxpayer claiming the exemption must submit to the property appraiser, not later than March 1 of each year , a sworn statement of household income on a form prescribed by the Florida Department of Revenue . SECTION 5 . SEVERABILITY. If any section , paragraph , sentence , clause or phrase of this Ordinance is held by a court of competent jurisdiction to be invalid or unconstitutional , such holding shall not affect the validity of the remaining portions of this Ordinance . AUGUST 21 , 2001BK Ili PLO1227 - 36 -