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• All properties with tax exempt status and abutting new street recon- <br />struction, street reconstruction or bitwninous qVeT'ldy improvements <br />;. shall be assessed i00� of the cost of the improvement on a front <br />footage basis in accordance with the proper equivalent assessment rate. <br />a <br />� • <br />� <br />i <br />E <br />� <br />� <br />f <br />� • <br />� <br />d) New Street Construction <br />1. Residential Property <br />2. <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 />(l�ocal, collector, arterial, trunk highway); designation <br />(County State-Aid Highway, Municipal State-Aid Street); or <br />j urisdiction (State, County or City). <br />Cor�nercial/Industrial Property <br />All COmmer'Ctdlly or industrially zoned properties with <br />frontage abutting construction of a new street shall be <br />assessed on a iront 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 j urisdiction (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 />,,� <br />