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(f) The net combined financial worth, including <br />equitable interests, as of the thirty-first day of December <br />of the immediately preceding calendar year, of the owner or <br />Owners and of the spouse of any oWner~ excluding the value of <br />the dwelling and th~ land, not exceeding one acre, upon which <br />it($35,000.). is situated, shall not exceed Thirty-five Thousand Dollars <br /> <br />Section 35-226. Amount of exemption. <br /> <br /> The person or persons qualifying for and claiming exemption <br />shall have exempted that percentage of the real estate tax levied <br />on the qualifying dwelling set forth in the following schedule: <br /> <br /> TOTAL INCO~ME ALL'SOURCES ~ EXEMPTION <br /> <br />$ O to $ 3~500oO0 100% <br /> 3,501.00 to 4,000~O0 90% <br /> 4,001.OO to 4,500.00 80% <br /> 4,501.O0 to 5,000.00 70% <br /> 5,O01.OO to 5,500.00 60% <br /> 5,501.OO to 6,000.00 50% <br /> 6~O01.00 to 6,500°00 40% <br /> 6,501.00 to 7,000.00 30% <br /> 7,001.00 to 7,500.00 20% <br /> 7,501.O0 to 8,500.00 10% <br /> <br /> 2. That thisOrdinance' shall <br />of its adoption. <br /> <br />be effective from %he date <br /> <br /> Adopted by the Council of the City of Portsmouth, Virginia, <br />at a meeting held March 27, 1979. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />