B.__A transfer to a spouse that takes effect upon the death of that person's spouse;

C.__A transfer by a person to that person's spouse or former spouse in connection with a property settlement agreement or legal separation or dissolution of a marriage;

D.__The creation, transfer or termination, solely between spouses, of any coowner's interest; or

E.__The distribution of a legal entity's property to a spouse or former spouse in exchange for the interest of the spouse or former spouse in the legal entity in__connection with a property settlement agreement or legal separation or decree of dissolution of a marriage.

§352.__Maximum ad valorem tax on real or personal property;

apportionment of tax revenues

1.__Maximum tax.__The maximum amount of any ad valorem tax on real property and personal property shall not exceed 1% of the full-cash value of such property.__The 1% tax must be collected by the governmental entity and apportioned according to the law within the city, county, town, plantation, unorganized territory or district.

2.__Exemption.__The limitation provided for in subsection 1 shall not apply to ad valorem taxes or special assessments to pay the interest and redemption charges on any indebtedness approved by voters prior to the effective date of this article.

3.__Exceptions to limitations.__The limitation provided for in subsection 1 shall not apply to ad valorem taxes or special assessments to pay the interest and redemption charges on any indebtedness approved by the voters prior to July 1, 1999 or to any bonded indebtedness for the acquisition or improvement of real or personal property approved on or after July 1, 1999 by 2/3 of the votes cast by voters voting on the proposition in a general election.

§353.__Valuation of real and personal property - appraised value

after 1997 assessment - replacement dwelling

1.__Full-cash value.__The full-cash value means the city, town, plantation, unorganized territory or district assessors total valuation of real and personal property as shown on the