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<br />. <br /> <br />(5) The net combined financial worth, including equitable interests, as of <br />December 31 st of the immediately preceding calendar year, of the owner or owners and <br />of the spouse of any owner, excluding the value of the dwelling and the land, not <br />exceeding one acre, upon which it is situated, and excluding furniture, household <br />appliances and other items typically used in a home, shall not exceed $160,000. <br /> <br />2. That this ordinance shall take effect on July 1, 2006. <br /> <br />ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held <br />on November 8, 2005. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br />. <br /> <br />. <br /> <br />