§ 1-298. Property of agency exempt from taxes.

Latest version.

The property of the agency acquired or held for the purposes of this article is declared to be public property used for essential public and governmental purposes; and such property shall be exempt from all taxes of the municipality, the county or the state or any political subdivision thereof. However, such tax exemption shall terminate when the agency sells, leases or otherwise disposes of such property in a community redevelopment area to a purchaser or a leasee which is not a public body entitled to tax exemption with respect to such property.

(Ord. No. 80-110, § 7, 11-19-80)

                    
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