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Home My WebLink About3136-04.13.1981(RECORDED) ORDINANCE NO. ...3Ic.3 0 AN ORDINANCE OF THE: CITY OF WATERLOO, IOWA, PROVIDING THAT THE CODE OF ORDINANCES, CITY OF WATERLOO, IOWA, BE AMENDED BY ENACTING A NEW CHAPTER THEREOF ENTITLED TAX EXEMPTION, PROVIDING FOR A PARTIAL EXEMPTION FROM PROPERTY TAXATION OF ACTUAL VALUE ADDED TO INDUSTRIAL REAL ESTATE BY NEW CONSTRUCTION OF INDUSTRIAL REAL ESTATE AND ACQUISITION OF OR IMPROVEMENT TO MACHINERY AND EQUIPMENT ASSESSED AS REAL ESTATE. NOW THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA: Section 1 . That the Code of Ordinances of the City of Waterloo, Iowa be and the same is hereby amended by enacting a new Chapter thereof entitled Tax Exemption and to read as follows: Section 2. The City Council , by this ordinance, provides for a partial exemption trom property taxation of the actual value added to industrial real estate by the new construction of industrial real estate and the acquisition of or improvement to machinery and equipment assessed as real estate pursuant to section four hundred twenty seven A point one (427A.1 ) , paragraph e, of the 1979 Code of Iowa. Section ' . New construction as referred to herein means new buildings and structures and includes new buildings and structures which are constructed as additions to existing buildings and structures. New construction does not include reconstruction of an existing building or structure which does not constitute complete replacement of an existing building or structure or refitting of an existing building or structure, unless the reconstruction of an existing building or structure is required due to economic obsolescence and the reconstruction is necessary to implement recognized industry standards for the manufacturing and processing of specific products and the reconstruction is required for the owner of the building or structure to continue to competitively manufacture or process those products which determination shall receive prior approval from the City Council upon the recommendation of the Iowa Development Commission. The exemption shall also apply to new machinery and equipment assessed as real estate pursuant to section four hundred twenty-seven A point one (427A.1 ) , subsection one (1 ) , paragraph e, of the Iowa Code unless the machinery or equipment is part of the normal replacement or operating process to maintain or expand the existing operational status. Section 4 . The partial exemption shall be available until such time as this ordinance is repealed by the City Council of the City of Waterloo, Iowa. Section 5. The actual value added to industrial real estate for the reasons specified in this Article is eligible to receive a partial exemption from taxation for a period of five (5) years. "Actual value added" as used in this Article means the actual value added as of the first of the year for which the exemption is received, except that actual value added by improvements to machinery and equipment means the actual value as determined by the assessor as of January first of each year for which the exemption is received. The amount of actual value added which is eligible to be exempt from taxation shall be as follows: (a) For the first year, seventy five percent. (b) For the second y.,ar, sixty percent. 13219 • (c) For the third year, forty-five percent. BLACK HAWK COUNTY, IOWA:SS (d) For the fourth year, thirty percent. Filed for record apt . /7 19 (e) For the fifth year, fifteen percent. at �2: i q .M, and recorded in ;)VA • Book a 3 9 COMPARED<<l Page 3/9 . PAGED\I Recorder Deputy Fee • O 6 BOOK 239 P,44 49 However, the granting of the exemption under this section for new construction constituting complete replacement of an existing building or structure shall not result in the assessed value of the industrial real estate being reduced below the assessed value of the industrial real estate before the start of the new construction added. Section 6. Application. An application shall be filed for each project resulting in actual value added for which an exemption is claimed. The application for exemption shall be filed by the owner of the property with the local assessor by February first of the assessment year in which the value added is first assessed for taxation. Applications for exemption shall be made on forms prescribed by the director of revenue and shall contain information pertaining to the nature of the improvement, its cost and other information deemed necessary by the director of revenue. Section 7. Application for Prior Approval A person may submit a proposal to the City Council of the City to receive prior approval for eligibility for a tax exemption on new construction. The City Council , by ordinance, may give its prior approval of a tax exemption for new construction if the new construction is in conformance with the zoning plans for the City. The prior approval shall also be subject to the hearing requirements of this Article. Such prior approval shall not entitle the owner to exemption from taxation until the new construction has been completed and found to be qualified real estate. However, if the tax exemption for new construction is not approved, the person may submit an amended proposal to the City Council to approve or reject. Section E. Repeal . When in the opinion of the City Council continuation of the exemption granted in this Article ceases to be of benefit to the City, the City Council may repeal this ordinance, but all existing exemptions shall continue until their expiration. Section 9. Limitation on Tax Exemptions. A property tax exemption under this Article shall not be granted if the property for which the exemption is claimed has received any other property tax exemption authorized by law. Section 9A. Enactment Date This Ordinance may be enacted not less than thirty (30) days after the holding of a public hearing in accordance with Section 326.3 of the 1979 Code of Iowa. Section 9B. Separability of Provisions. It is the intention of the Council that each section, paragraph, sentence, clause, and provision of this ordinance is separable, and if any provision is held unconstitutional or invalid for any reason, such decision shall not affect the remainder of this Ordinance nor any part thereof other than that affected by such decisions. Section 9C. When Effective This Ordinance shall be in effect from and after its final passage, approval and publication as provided by law. Section 9D. That the aforedescribed new chapter shall be included as part of the replacement pages of the Municipal Code of the City of Waterloo, Iowa, and made a part of said Code as provided by law. • fa P.. Passed and approved by the City Cpuncil of the City of Waterloo, Iowa, this /3 day of p4r' 1 , 1981. c4 ' 11. . f/ Leo P. Rooff, Mayor ATTEST.: 7—ogiite Aer La, P. : • - ,ilerk Certificate 1, R.............. �•r•� ( ..5.1��'�4t� , City Clerk of the City of Waterloo, Iowa, do hereby certify that attached hereto is a true and complete copy of Or d..i../.:N .. No. ./... ... , as passed and adopted lby the Council of the City of Waterloo, Iowa, on the /3 day of,,., i/y ?r'1.,1 19.. .,�itnesg IVIy lIantf:and Seal of Office this / ., day of .. ... p.r:.t , 19 � \ SEAL . 7 City Cler BDDK 219 PAGE 51. J _ 07 STATE OF IOWA, I, Robert J . McCoy Black Hawk County, SS Publisher of the t i crte l 0 0 Tourier a daily newspaper printed in the English language and published in Waterloo, Black Hawk County, Iowa do solemnly swear that the annexed copy of p r d i nAn.c e__NQ , 31a4 notice was published in the English language only rogT# 3c ORDINANCE NO.3136 AN WATERLLOO,NCE OF THE CITY OF once OWA, PROVIDING >� M 7PifiJi4t4� 1(�3ce CTITTY OFAT THEWATERLOO, IIOWA,COE OFCES BE commencing on the____2Qt h day of Apr i 19gl_ CHAPTER THEREOF ENTITLED • TAX EXEMPTION, PROVIDING in the issues of AP_r_i_l__2Q,__14fl1 FOR A PARTIAL EXEMPTION FROM PROPERTY TAXATION OF ACTUAL VALUE ADDED TO of said newspaper, and INDUSTRIAL NEW CONSTRUCTION OF that the annexed rate of advertising is the regular legal Iate of INDUSTRIAL REAL ESTATE AND MP ROVEMENT QUISITITO MACHINON OF / said newspaper, and that the following is a correct bill for pub- ,, AND EQUIPMENT ASSESSED AS lishing said notice. j REAL ESTATE. NOW THEREFORE BE IT ORDAINED BY THE CITY COUNCIL Printer's Bill $ 6 G - r.1 OF THE CITY OF WATERLOO, IOWA: 1 Section 1. That the code of Ordinances of the City of Waterloo, —. lowo be and the some is hereby amended by enacting a new Chapter thereof entitled Tax Exemption and to Subscribed and sworn to before me this I1 F 1, read ti follows: �S2 tlL day Section 2. The City Council,by this -- ordinance, provides for a partial of If exemption from property taxation of ARr_il A. D., 19 __�� the actual value added to industrial real estate by the new construction of Industrial real estate and the acquisition of or Improvement to machinery and equipment assessed as Notary Publics real estate pursuant to section four hundred twenty seven A point one (427A.1),paragraph e,of the 1979 Code Received of of Iowa. referred to h New reinnmeansonew as the sum of buildings and structures and includes D011aIB new buildings and structures which in full for publication of the above notice. are constructed as additions to existing buildings and structures.New construction does not Include reconstruction of an existing building or structure which does not constitute Publishers complete replacement of on existing building or structure or refitting of on existing building or structure, unless the reconstruction of an existing CM 13< Council to approve or reject:.' Section B.Repeal. When in the opinion of the City Council continuation of the exemption granted in this Article ceases to be of benefit to the City, the City Council may repeal this ordinance, but oll existing exemptions shall t''ntnue until their exairnfinn ▪ Section9C.When Effective • This Ordinance shall be in effect c from and after Its final passage, by l appaw. roval and publication as provided � i Section 9D, 1 That the aforedescribed new chapter shall be included as part of the replacement pages of the Municipal Cade of the City of Waterloo, Iowa, , • and made a port of said Code as provided by low. Passed and approved by the City Council of the City of Waterloo,Iowa this lth day of April,1981. , Leo P.RoOff'Mayar ATTEST: ORDINANCE NO. 3l3 (' Larry P.Burger,City Clerk AN ORDINANCE OF THE CITY OF WATERLOO, IOWA, PROVIDING THAT THE CODE OF ORDINANCES, CITY OF WATERLOO, IOWA, BE AMENDED BY ENACTING A NEW CHAPTER THEREOF ENTITLED TAX EXEMPTION, PROVIDING FOR A PARTIAL EXEMPTION FROM PROPERTY TAXATION OF ACTUAL VALUE ADDED TO INDUSTRIAL REAL ESTATE BY NEW CONSTRUCTION OF INDUSTRIAL REAL ESTATE AND ACQUISITION OF OR IMPROVEMENT TO MACHINERY AND EQUIPMENT ASSESSED AS REAL ESTATE. NOW THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA: Section 1 . That the Code of Ordinances of the City of Waterloo, Iowa be and the same is hereby amended by enacting a new Chapter thereof entitled Tax Exemption and to read as follows: Section 2. The City Council , by this ordinance, provides for a partial exemption from property taxation of the actual value added to industrial real estate by the new construction of industrial real estate and the acquisition of or improvement to machinery and equipment assessed as real estate pursuant to section four hundred twenty seven A point one (427A. 1 ) , paragraph e, of the 1979 Code of Iowa. Section 3,, New construction as referred to herein means new buildings and structures and includes new buildings and structures which are constructed as additions to existing buildings and structures. New construction does not include reconstruction of an existing building or structure which does not constitute complete replacement of an existing building or structure or refitting of an existing building or structure, unless the reconstruction of an existing building or structure is required due to economic obsolescence and the reconstruction is necessary to implement recognized industry standards for the manufacturing and processing of specific products and the reconstruction is required for the owner of the building or structure to continue to competitively manufacture or process those products which determination shall receive prior approval from the City Council upon the recommendation of the Iowa Development Commission. The exemption shall also apply to new machinery and equipment assessed as real estate pursuant to section four hundred twenty-seven A point one (427A.1 ) , subsection one (1 ) , paragraph e, of the Iowa Code unless the machinery or equipment is part of the normal replacement or operating process to maintain or expand the existing operational status. Section 4 . The partial exemption shall be available until such time as this ordinance is repealed by the City Council of the City of Waterloo, Iowa. Section 5. The actual value added to industrial real estate for the reasons specified in this Article is eligible to receive a partial exemption from taxation for a period of five (5) years. "Actual value added" as used in this Article means the actual value added as of the first of the year for which the exemption is received, except that actual value added by improvements to machinery and equipment means the actual value as determined by the assessor as of January first of each year for which the exemption is received. The amount of actual value added which is eligible to be exempt from taxation shall be as follows: (a) For the first year, seventy five percent. (b) For the second year, sixty percent. (c) For the third year, forty-five percent. (d) For the fourth year, thirty percent. (e) For the fifth year, fifteen percent. However, the grantinc of the exemption under this section for new construction constituting complete replacement of an existing building or structure shall not result in the assessed value of the industrial real estate being reduced below the assessed value of the industrial real estate before the start of the new construction added. Section 6. Application. An application shall be filed for each project resulting in actual value added for which an exemption is claimed. The application for exemption shall be filed by the owner of the property with the local assessor by February first of the assessment year in which the value added is first assessed for taxation. Applications for exemption shall be made on forms prescribed by the director of revenue and shall contain information pertaining to the nature of the improvement, its cost and other information deemed necessary by the director of revenue. Section 7. Application for Prior Approval A person may submit a proposal to the City Council of the City to receive prior approval for eligibility for a tax exemption on new construction. The City Council , by ordinance, may give its prior approval of a tax exemption for new construction if the new construction is in conformance with the zoning plans for the City. The prior approval shall also be subject to the hearing requirements of this Article. Such prior approval shall not entitle the owner to exemption from taxation until the new construction has been completed and found to be qualified real estate. However, if the tax exemption for new construction is not approved, the person may submit an amended proposal to the City Council to approve or reject. Section E. Repeal . When in the opinion of the City Council continuation of the exemption granted in this Article ceases to be of benefit to the City, the City Council may repeal this ordinance, but all existing exemptions shall continue until their expiration. Section 9. Limitation on Tax Exemptions. A property tax exemption under this Article shall not be granted if the property for which the exemption is claimed has received any other property tax exemption authorized by law. Section 9A. Enactment Date This Ordinance may be enacted not less than thirty (30) days after the holding of a public hearing in accordance with Section 326.3 of the 1979 Code of Iowa. Section 9B. Separability of Provisions. It is the intention of the Council that each section, paragraph, sentence, clause, and provision of this ordinance is separable, and if any provision is held unconstitutional or invalid for any reason, such decision shall not affect the remainder of this Ordinance nor any part thereof other than that affected by such decisions. Section 9C. When Effective This Ordinance shall be in effect from and after its final passage, approval and publication as provided by law. Section 9D. That the aforedescribed new chapter shall be included as part of the replacement pages of the Municipal Code of the City of Waterloo, Iowa, and made a part of said Code as provided by law. • Passed and approved by theptCity Cpuncil of the City of Waterloo, Iowa, this /3 day of `./ , 1981. p Ca° `e!6f Leo P. Rooff, Mayor ATTEST: )0500.r., La r P. : .��' Clerk 6- kty- H EA z AW ^03z � z z H W O A O W O < Z H W ZZHx Hcn H < H <G >4Hw HwZ r: yi W Acn o xHHO'<4 <441f:' < U oaE-1 < z 3F^E�+ aaZ < Pa 0zE- < 43 O W H 44 1-1 � K < zz � wz H 3 W H � a • WXAP4W zoH = Haz C.) 1-1U H a O P4 U • � <4 HX H WUP cn Z H a � zAOH ZZ44 <4HH to pr, qH U Ofx3 � A0 OWa W zO < z > 044 44 > 0 0 W z0 < Hp! E--4 HAZH < AHvH, Aolk0HAHP' W U H H O E 0 Ur> <4c1) 0I-a zxZ woww < HWPa000 W