Provides an 8% tax rate for those properties that are encumbered by a deed restriction for low-income housing set at 80% or 60% of adjusted median income established by HUD.

TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES - Provides an 8% tax rate for those properties that are encumbered by a deed restriction for low-income housing set at 80% or 60% of adjusted median income established by HUD.