Laserfiche WebLink
. 2. Tax Exempt Prop erties <br /> <br /> All properties with tax exempt status and abutting street recon- <br />struction improvements shall be assessed 100% of the cost of the <br />improvement on a front footage basis. <br />3. Residential Equivalent Assessment Rate <br />All residentially zoned properties with frontage abutting a street <br />which is reconstructed shall be assessed on a front foot basis at the <br />residential equivalent assessment rate. This rate shall apply regard- <br />less of the streets classification (local, collector, arterial, trunk <br />highway); designation (County State-Aid Highway, Municipal State-Aid <br />Street); or jurisdiction (State, County or City). <br />The residential equivalent assessment rate shall be based on 1/2 of the <br />cost of street construction for a typical residential street section. <br />• This residential equivalent assessment rate shall be determined by Lhe <br />City Council and established by resolution from time to time based upon <br />comparable project data available to the City. <br />4. Commercial Equivalent Assessment Rate <br />All commercially zoned properties with frontage abutting a street which <br />is reconstructed shall be assessed on a front foot basis at the commer- <br />cial equivalent assessment rate. This rate shall apply regardless of <br />the streets classification (local, collector, arterial, trunk highway); <br />designation (County State-Aid Highway, Municipal State-Aid Street); or <br />jurisdiction (State, County or City). <br />• <br />11 <br />