HomeMy WebLinkAbout1989-01-10-Ordinance 2108_Industrial Property Tax CreditORDINANCE NO.2108
AN ORDINANCE TO AMEND ORDINANCE PROVIDING FOR INDUSTRIAL
PROPERTY TAX CREDITS FOR QUALIFIED NEW INDUSTRIAL CONSTRUC-
TION,TO PROVIDE THAT NO PROPERTY TAX CREDITS SHALL BE GRANT-
ED AS TO ANY PROPERTY INCLUDED IN ANY URBAN RENEWAL AREA OF
THE CITY OF WAUKEE,IOWA.
BE IT ORDAINED by the Council of the City of Waukee:
Section 1.Section 215.2 is hereby amended by adding
thereto the following:
"Provided,however,no exemption or partial exemption
from taxation shall be granted as to any property within
any urban renewal area of the City of Waukee,Iowa."
Section 215.2 shall now read:
"The City of Waukee,Iowa,hereby provides for a partial
tax 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 im-
provement to machinery and equipment .as assessed as real
estate pursuant to Iowa Code Section 427A.l(1)(e),Code
of Iowa,as amended,wi thin the 1 imi ts of the Ci ty of
Waukee,Iowa.This provision shall be subject to the
definitions and requirements set forth in House File
650,Acts of the 68th General Assembly,1979 Regular
Sess ion of the State of Iowa.Provided,however,no
exemption or partial exemption from taxation shall be
granted as to any property within any urban renewal area
of the City of Waukee,Iowa."
Section 2.
effect after its
required by law.
Effective Date.This ordinance shall be in
final passage,approval,and publication as
Passed by the ..s;o}lflcil
approved this ~day
of January,
,1989.
1989,and
Attest: