§ 1-7-83. Board consideration of applications.

(a)

Property appraiser review. Before the board takes action on an application, a copy of the application, once deemed complete, shall be delivered to the property appraiser for review. Within fifteen (15) days of receipt of the complete application, the property appraiser shall provide a report to the board, which shall include the following:

(1)

The total revenue available to the county for the current fiscal year from ad valorem tax sources, or an estimate of such revenue if the actual total available revenue cannot be determined;

(2)

The amount of revenue lost to the county for the current fiscal year by virtue of exemptions previously granted, or an estimate of such revenue if the actual revenue lost cannot be determined;

(3)

An estimate of the amount of revenue which would be lost to the county for the current fiscal year if the exemption applied for was granted had the property for which the exemption is requested otherwise been subject to taxation; and

(4)

A determination as to whether the property for which an exemption is requested is to be incorporated into a new business or the expansion of an existing business, or into neither, which determination the property appraiser shall also affix to the face of the application. Upon request, the department will provide the property appraiser such information as it may have available to assist in making this determination.

(b)

Eligibility threshold. The threshold for eligibility is whether the business meets the definition of a new business or of an expansion of an existing business as provided in this article.

(c)

Economic development policy guidelines. In making its determination as to whether to grant the exemption, and, if granted, the duration and percentage of the exemption, the board shall consider the following factors and any other guidelines that may be adopted by the board by resolution in the future:

(1)

Number of current and projected employees of the business located in the county.

(2)

Average wage of employees of the business located in the county.

(3)

Amount of capital investment.

(4)

Innovative business.

(5)

Commitment to local procurement.

(6)

Net positive contribution to the local economy.

In addition to the above factors, the board may consider any other activity or factor that promotes the sustainability of economic development within the county.

(d)

Ordinance. After consideration of the application and the property appraisers review, the economic development policy guidelines, and such other information it deems relevant, the board may choose to adopt an ordinance granting the exemption to the applicant for up to one hundred (100) percent of the assessed value of the qualifying property for up to ten (10) years. If granted, the ordinance shall include the following information:

(1)

The name and address of the new business or the existing business which is expanding;

(2)

The name of the owner(s) of the new business or the existing business which is expanding;

(3)

The total amount of revenue available to the county from ad valorem tax sources for the current fiscal year, the total amount of the revenue lost to the county for the current fiscal year by virtue of exemptions currently in effect, and the estimated amount of revenue attributable to the exemption granted to the new or expanding business;

(4)

The expiration date of the exemption, which is ten (10) years or less (depending upon the duration of the exemption granted) from the date the board enacts the ordinance granting the exemption; and

(5)

A finding that the business meets the definition of a new business or an expansion of an existing business as set forth in herein.

(Ord. No. 2016-015, §§ 1, 2, 3-8-16)