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AN ORDINANCE AMENDING AND REORDAINING DIVISION 3 ("PARTIAL PROPERTY TAX EXEMPTION FOR CERTAIN REHABILITATED RESIDENTIAL STRUCTURES") OF • ARTICLE V OF CHAPTER 30 (TAXATION) OF THE CODE OF THE CITY OF CHARLOTTESVILLE, 1990, AS AMENDED, TO ESTABLISH A NEW SUNSET CLAUSE OF SEPTEMBER 1, 2012; TO ALLOW FOR PARTIAL TAX EXEMPTIONS WHEN REHABILITATION RESULTS IN A 15% INCREASE IN THE PROPERTY'S VALUE; AND TO INCLUDE REHABILITATED DETACHED ACCESSORY APARTMENTS AS A BASIS FOR THE PARTIAL PROPERTY TAX EXEMPTION BE IT ORDAINED by the Council for the City of Charlottesville, Virginia that Division 3 of Article V of Chapter 30 of the Code of the City of Charlottesville, 1990, as amended, is hereby amended and reordained as follows: ARTICLE V. Tax Exemption for Solar Energy and Recycling Equipment, Facilities and Devices; Certain Rehabilitated Residential Structures. Division 3. Partial Property Tax Exemption For Certain Rehabilitated Residential Structures Sec. 30-155. Granted. This division authorizes a partial exemption for improved real estate from the general real estate tax, for real estate containing a structure or other improvement that has been rehabilitated, renovated or replaced for residential use in accordance with Va. Code § 58.1-3220 and the provisions of this division. • The exemption provided by this division shall not be available for any improvements made to unimproved real property. Sec. 30-156. Requirements for qualification. (a) For the purposes of this division the term "residential real property" shall mean abuilding or structure which has itself undergone, or will undergo, substantial rehabilitation, renovation or replacement for residential use. The term "residential use" shall mean occupied, or designed to be occupied, by not more than one (1) family, or by not more than one (1) family with an attached or detached accessory apartment. (b) In order to qualify for the exemption from real property taxation provided by this division, residential real property shall meet all of the following criteria: (1) The city assessor's most recent annual real property tax assessment of the building, er structure and improvements and the land on which "they are located shall be no more than three hundred fifty thousand dollars ($350,000.00). Beginning February 1, 2006 this maximum amount shall be automatically adjusted to reflect the average city-wide percentage increase or decrease in real propertytax assessments for single family homes, as determined by the city assessor. • (2) Therip •maty building or structure on the property must be no less than twenty-five (25) years of age at the time application is filed pursuant to this division. (3) The building or structure itself must have been substantially rehabilitated, renovated or