Raw materials and manufactured products in the possession of the manufacturers
are exempt from the levy of ad valorem taxes upon tangible personal property
by the city.
Stock in business of every person, firm or corporation engaged in any
manufacturing or commercial business is exempt from the levy of ad valorem
taxes upon tangible personal property by city.
No provision hereof shall be construed to include an exemption for other
tangible personal property, including, by way of enumeration and not limitation,
tools, machinery, equipment, furniture or fixtures.