[Amended 9-10-1996 by L.L. No. 2-1996]
Where property which is owned by a veteran and receiving an
exemption pursuant to § 458 is sold and other real property
is acquired to replace the formerly owned property, the exempt amount
granted on the formerly owned property pursuant to § 458
and as expressed in a percentage shall be granted on the property
acquired to replace the formerly owned property, provided that the
newly acquired property is in the same assessing unit; and provided,
further, that the exemption granted on the newly acquired property
shall not exceed the exemption on the formerly owned property as expressed
in a dollar amount.