Sec. 780.203. - Property eligible.

(a) The Council, at its discretion, by ordinance may exempt from ad valorem taxation up to 100 percent of the assessed value of all improvements to real property made by or for the use of a new business, and of all tangible personal property of such new business, or up to 100 percent of the assessed value of all added improvements to real property made to facilitate the expansion of an existing business and of the net increase in all tangible personal property acquired to facilitate such expansion of an existing business, provided that the improvements to real property are made or the tangible personal property is added or increased on or after the day the ordinance is adopted. (b) New business means any business located in an enterprise zone that first begins operation on a site clearly separate from any other commercial or industrial operation owned by the same business. (c) Expansion of an existing business means any business located in an enterprise zone that increases operations on a site collocated with a commercial or industrial operation owned by the same business. (d) Notwithstanding subsection (a) of this Section, property is not eligible for exemption if it is within one of the City's tax increment districts. (Ord. 93-1989-1145, § 1)