Changes with respect to income, financial worth, medical status or other factors occurring during the taxable year for which the Affidavit is filed, and having the effect of exceeding or violating the limitations and conditions provided in this chapter, shall nullify the alternative tax rate for designated personal property for the then current taxable year and the taxable year immediately following. After January 1, 1993, personal property tax liability resulting from a change of ownership shall be prorated. If a transfer of property designated for the alternative tax rate occurs after this date, the replacement vehicle may be taxed at the alternative rate.
(Ord. 94-02. Passed 1-19-94.)