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111) All properties with tax exempt status and abutting new street recon- <br /> struction, street reconstruction or bituminous overlay improvements <br /> shall be assessed 100% of the cost of the improvement on a front <br /> footage basis in accordance with the proper equivalent assessment rate. <br /> a) New Street Construction <br /> 1. Residential Property <br /> All residentially zoned properties with frontage abutting <br /> construction of a new street shall be assessed on a front <br /> footage basis for 100% of the cost of the street construction <br /> plus all associated overhead costs. This 100% assessment <br /> rate shall apply regardless of the street' s classification <br /> (local , collector, arterial , trunk highway) ; designation <br /> (County State-Aid Highway, Municipal State-Aid Street) ; or <br /> 411 jurisdiction (State, County or City) . <br /> 2. Commercial /Industrial Property <br /> All commercially or industrially zoned properties with <br /> frontage abutting construction of a new street shall be <br /> assessed on a front footage basis for 100% of the cost of the <br /> street construction plus all associated overhead costs. This <br /> 100% assessment rate shall apply regardless of the street's <br /> classification (local , collector, arterial , trunk highway) ; <br /> designation (County State-Aid Highway, Municipal State-Aid <br /> Street) ; or jurisdiction (State, County or City) . <br /> b) Street Reconstruction <br /> 1. Residential Equivalent Assessment Rate <br /> All residentially zoned properties with frontage abutting a <br /> street which is reconstructed shall be assessed on a front <br /> foot basis at the residential equivalent assessment rate. <br /> 31 <br />