The following schedule of taxes exempted shall apply to all properties satisfying the provisions and limitations hereinbefore and hereinafter set forth:
Eligible Tax Year | Percentage of Tax Exemption on Eligible Assessment |
Eligible Tax Year | Percentage of Tax Exemption on Eligible Assessment |
Year 1 | 100% |
Year 2 | 100% |
Year 3 | 80% |
Year 4 | 60% |
Year 5 | 40% |
Year 6 | 20% |
Year 7 and thereafter | 0% |
(Ord. 19-00. Passed 8-17-2000; Ord. 02-21. Passed 4-21-2021.)