(a) The tax exemption set forth in Section 872.03 shall be limited to a tax exemption on the actual increase in assessed valuation attributable to the actual cost of the improvements up to the maximum cost as hereinafter set forth.
(b) The tax exemption set forth in Section 872.03 shall be further limited to a maximum cost per dwelling unit, the maximum cost to be determined by the ratio of the U. S. Bureau of the Census New One-Family House Price Index for the current year to that same Index for the preceding year, multiplied by the maximum cost for the preceding year. For purposes of this chapter, the maximum cost per dwelling unit for improvements constructed during calendar year 1971 shall be ten thousand dollars ($10,000). (See the attachment to original Ordinance 3-80, passed February 27, 1980.)
(Ord. 3-80. Passed 2-27-80.)