Sec. 780.303. - Historic rehabilitation tax exemption.

Qualifying property that has completed a qualifying improvement project shall be exempt from that portion of ad valorem taxation levied by the City on 100 percent of the increase in assessed value resulting from the substantial improvement project during the exemption period. The exemption does not apply however, to taxes levied for the payment of bonds or to taxes authorized by a vote of the electors pursuant to Section 9(b) or Section 12 of Article VII of the State Constitution. The amount of the exemption shall be determined by the Property Appraiser based upon his usual process for post-construction inspection and appraisal of property following rehabilitation or renovation. (Ord. 94-308-168, § 1) Note— Former § 790.303.