107. Determination of annual valuation of holdings exempted from property tax.
(1)Where any holding is exempt from property tax, the annual valuation thereof shall be determined in accordance with the provisions of this Chapter.(2)Where any land is exempt from the property tax under this Chapter, the annual value of any building erected on such land, not entitled to any exemption from the property tax, shall be determined separately from the land in accordance with the provisions of this Chapter.
