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<br />Environmental Restoration Site Tax Exemption (ERSTE) <br />o Existing city-wide program provides for 5-year real estate tax exemption on land and <br />improvements on environmental restoration sites on the full assessed value of land <br />and improvements up to a maximum of assessed value of $3,000,000. Any assessed <br />value in excess of $3,000,000 shall be fully taxable. <br />o For properties in VEZ #2, <br />· Up to a maximum assessed value of $5,000,000. Any assessed value in excess <br />of $5,000,000 for any qualified property shall be fully taxable. <br />o Administered by City Assessor <br /> <br />3 <br />