The exemption from taxes shall be limited to the additional assessment valuation attributable specifically to the actual costs of improvements to deteriorated property not in excess of ten thousand dollars ($10,000) per dwelling unit for improvements constructed during 1979 and subsequent years. The exemption from taxes shall be limited to that portion of the increased assessment attributable to the improvement and for which a separate assessment has been made by the County Tax Assessment Bureau and for which an exemption has been specifically requested. The date of the construction shall be deemed to be the date of the issuance of the building permit, improvement record or other required notification of construction. No tax exemption shall be granted under this chapter for any improvement to any dwelling unit in excess of the maximum cost specified in this section.
(Ord. 4141. Passed 4-25-79.)