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HomeMy WebLinkAboutA010 - proof of publication, May 10, 1985 Proof of Publication in The Sec 24.9 LENGTH OF TIME EXEMPTION IS AVAIL- ABLE. provided in section 24.8 AMES DAILY TRIBUN The exemption %. shall be available for a period of five years LEGAL NOTICE = repealeG [State L of June,aw Ref. 427B51]unless-soon er Sec 24.10 EXEMPTION SCHEDULE. ORDINANCE NO. 2923 esThe tate actual thevalue reasonsadded to specifdiedtinasection AN ORDINANCE TO AMEND THE MUNICIPAL CODE OF one is eligible to receive a partial exemp- STATE OF IOWA►, STORY COUNTY, SS. THE CITY OF AMES, IONA, BY ADDING SECTIONS period of five (5) 24.8 THROUGH 24.13 FOR THE PURPOSE OF Lion from taxation for a D � Dale R. Culver, years. "Actual value added" as used herein I' ADOPTING A PROPERTY TAX EXEMPTION FOR VALUE �y� pro- means the actual value added as of the firs that I am ��^���' ADDED TO QUALIFIED INDUSTRIAL REAL ESTATE, on oath depose and say the City Council for the t that actual value added by improve- AND PROVIDING AN EFFECTIVE DATE. year for which the exemption is receive BE IT ORDAINED, by Y menu City of Ames, Iowa: ments to machinery and equipment means t as duction foreman he StoryCounty, Section One. The Municipal Code of the actual value as deteeach earifor awhichrthe daily newspaper,oprinted at Ames, TRIBUNE, by Ci y o mes, owa, is hereby amended by of January first of each y adding thereto new sections 24.8 through exemption is received. The amount of actual Iowa;that the annexed printed 24.13 as follows: value added which is of to be exempt "Sec. 24.8. INDUSTRIAL PROPERTY TAX EXEMP- fra1)tFortion the firlstbe as year follows:evnty-five per- C it of Ames — Ordinance N o. TION. cent. 1. Pursuant to Chapter 4278 Code of Iowa, (2) For the second year, sixty percent• there is hereby provided a partial exemption (2) For the third year, forty-five percent. 1923 from property taxation of the actual value (4) For the fourth year, thirty percent. added to qualifying industrial real estate by (5) For the fifth year,fifteen percent. the new construction of industrial real es- However, the granting of an exemption under tale and the acquisition of or improvement to this Section for new construction consti- machinery and equipment assessed as real es- cement of an existing tate pursuant to section 427A.1, subsection this complete re 1, paragraph 'e', Code of Iowa. building or structure shall not result in the 2. New construction means new buildings assessed value of the industrial real estate was published In said newspaper for and structures and includes new buildings and being reduced below the assessed value of the structures which are constructed as additions industrial real estate before the start of Consecutive weeks, the first to existing buildings. New construction does the new construction added. [State Law Ref. UbIlCatlOn WEIS On the not include reconstruction of an existing 427B.31 building or structure which does not consti- Sec. 24.11 APPLICATION FOR EXEMPTION. for which an and the 18St Of said p lute complete replacement of an existing For each eligible property building or structure or refitting of an exemption is desired cation he f'orrexempti shall onswith 1 O day Of may- ---existing building or structure, unless the be filed an !ss reconstruction of an existing building or the city assessor, on the forms prescribed by the director of revenue for the State he structure is required due to economic obsolof - 19 Q S implementrecogni reconstruct indusion tryrstandards necessary for year'forIowa ewhich the avalue aadded rn application t as �--� the manufacture and processing of specific sessed for tax purposes. If an application produces and the reconstruction is required is not filed by February 1 of the year the tss presence for the owner of the building or structure to cannot added receive fisubsequent eyearse he taxpayer continue to competitively manufacture orSworn to before me and subscribed in y Gale R. process those products which determination tial exemption for that value added. [State by JCyCXX=d Law Ref. Sec. 427b.4, IAC 730-80.6(6)(a)] i�^+- shall receive prior approval from the city Sec 24 12 REPEAL OF EXEMPTION; EFFECT. council of the city upon the recommendation Culver. of the Iowa Development Commission, isIfrtheeledpailln existing exeysectioshall 3, The exemption shall also apply to new continue until their expiration. [State Law this �f}, day Of machinery and equipment, assessed se real Ref. Sec. 4278.5] ��= MIY estate pursuant to section 4the subsection Sec 24.13 MULTIPLE EXEMPTIONS PROHIBITED. 1, paragraph 'e',u nlesn the machinery or equipment is part of the normal replacement The property tax exemption under this pert- 198 'or operating process to maintain or expand nonce shall not be granted if the property .I .� the existing operational status. for which the eXemption 'is claimed has re- / , ceived any other property tax exemption Guth- �/, Notary Public 4. The term "qualifying' as used in this section, means that which is classified and °i$eed ibonlTwo. [State This orQioanceesha1217 be]in ;i an for Story County. assessed as industrial real estate entitled fu orce and effect from and after the 7th to the exemption by the laws of Iowa and the day of May, 1985. valid the, rules of the Iowa Depart- F. Paul Goodland, Mayor 37 7.8 ment of Revenue. [State Law Ref. Iowa Code Nancy Gibbons, City Clerk Fees,$ ' Sec. 4278.1• IAC 730-80.61 Published in The Ames Daily Tribune, May 10,1985.