(A) The rate of taxation levied upon abandoned urban properties is one dollar and fifty cents ($1.50) on each one hundred dollars ($100.00) of assessed value.
(B) All money and funds derived from the Abandoned Urban Property tax under the provisions of this chapter shall be paid to the city and placed to the credit of the city’s general revenue fund and for the general expenses and purposes of the city.
(Ord. 0-2005-06, passed 4-25-05; Am. Ord. 0-2011-018, passed 6-13-11; Am. Ord. 0-2016-010, passed 6-27-16)