§ 65-37. Exemption granted.

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Pursuant to the provisions of § 457 of the Real Property Tax Law, owner-occupied, primary residential property that is newly constructed or reconstructed under certain other conditions as outlined herein is exempt from taxation and special ad valorem levies to the extent of an annually declining percentage for at least some portion of the assessed value of the property. No exemption is allowed for special assessments.

                    
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