(a) The Council by ordinance, shall provided for the annual assessment, levy, and collection of taxes on property.

(b) The City shall have a first lien on all real property against which taxes are assessed, for the taxes and any collection charges, penalties, and interest which may accumulate thereto; and the lien shall continue until the taxes and any such charges, penalties, and interest are paid; provided, however, that no single home and lot lived in by the owner shall be taken by the City for unpaid taxes during the life of the owner-occupant if the owner-occupant is over the age of sixty-five (65) years or is permanently and totally disabled, and is unable to pay the taxes.