WASHINGTON - The Virginia Supreme Court on Friday reversed a lower court and ruled that the Glebe, an upscale continuing-care retirement community near Roanoke, is exempt from local taxes, a decision that eases the facility's concerns of owing hundreds of thousands of back taxes and improves its finances.

But after it failed to make on a $15 million bond payment to investors in July, the status of the Glebe remains uncertain and talks between its owners and bondholders are ongoing.

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