§53-14  Agency exempt from real propertytaxes.  The redevelopment agency shall be exempt from real property taxesupon any of its land or buildings so long as title is held by it, but notexceeding two years from the date of their acquisition; provided that the taxexemption shall not apply to any land or structure from which the agency isreceiving an income. [L 1949, c 379, pt of §4; RL 1955, §143-14; HRS §53-14]