Authorization to Offer Exemption from Real Estate Taxes on Improvements to Residential Properties. The exemption shall commence for the first year for which improvements would otherwise be taxable. After the tenth year, the exemption shall terminate. This Ordinance shall take effect upon the effective date of state legislation enacted subsequent to the enactment of this Ordinance authorizing this Ordinance, and shall apply only to exemptions for which application is made to the Board of Revision of Taxes on or after such effective date.
Italics indicate matter added.
This is a true and correct copy of the original Bill, Passed by the City Council on June 22, 2000. The Bill was signed by the Mayor on September 12, 2000.