156.11 TAX EXEMPTION
156.11 TAX EXEMPTION
Property acquired or held under this Ordinance with retention of the deed by the City of Richmond is considered property of the City held for municipal purposes and is exempt from property taxation. This property tax exemption becomes effective on the date of conveyance to the City. A petition to cancel taxes or a certified application for exemption is not required for property acquired or held under this Ordinance.
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