The text
(a)
Except as hereinafter provided in provided in subsection (b) of this section, all exemptions under this article shall terminate upon the occurrence of any of the following events:
(1)
Conveyance of the subject real property or sale of the subject personal property.
(2)
The exempted person moving his/her primary residence from the city.
(3)
An alteration of the character or use of the exempt property such that it becomes subject to the provisions of section 74-33, 74-34 or 74-35.
(b)
Effective with taxes assessed as of December 31, 1985, all exemptions under this article shall terminate on December 31 of the year of the death of the exempt person.
(Code 1971, § 21-25)