§ 82-93. Duration of tax exemption.

(a)

The exemption period shall be for ten years, beginning January 1 of the year following the year in which final approval is given by the city commission and the county property appraiser has been instructed to provide such exemption. However, the city commission shall have the discretion to set a lesser term if requested by the property owner in its original application and covenant.

(b)

The term of the exemption shall be specified in the resolution approving the exemption and shall continue regardless of any changes in the authority of the city to grant such exemption or change in ownership of the property. To retain an exemption, the historic character of the property and the improvements which qualified the property for an exemption must be maintained in their historic state over the period for which the exemption was granted.

(Code 1979, § 15-111)