12-17,124.Same; application of real property owners
for tax benefits; approval or denial, criteria.
(a) The owner of real property located within a downtown
redevelopment area may submit a written application to the governing body of
the city or of the unincorporated area of the county in which the redevelopment
area is located to request downtown
redevelopment area tax benefits. The application for tax benefits shall be made
on a form approved by the governing body of the city or of the unincorporated
area of the county or such governing body's designee, and shall
be accompanied by copies of dated records that verify the applicant's
investment in improvements to the real property or trade fixtures located
therein.
(b) After a review of the application for redevelopment tax benefits and
after an examination of the facts alleged, the governing body of the city or of
the unincorporated area of the county in
which the downtown redevelopment area is located shall either approve or deny
the application for redevelopment tax benefits based upon the following
criteria:
(1) The applicant has made, within a twelve-month period, an investment in
improvements to the real property or trade fixtures located therein, the value
of which is equivalent to or exceeds 25% of the appraised value of the
property, as determined by the county appraiser, for the immediately preceding
tax year; and
(2) the real property that is the subject of the application is in full
compliance with city ordinances or county resolutions.
12-17,124.Same; application of real property owners
for tax benefits; approval or denial, criteria.
(a) The owner of real property located within a downtown
redevelopment area may submit a written application to the governing body of
the city or of the unincorporated area of the county in which the redevelopment
area is located to request downtown
redevelopment area tax benefits. The application for tax benefits shall be made
on a form approved by the governing body of the city or of the unincorporated
area of the county or such governing body's designee, and shall
be accompanied by copies of dated records that verify the applicant's
investment in improvements to the real property or trade fixtures located
therein.
(b) After a review of the application for redevelopment tax benefits and
after an examination of the facts alleged, the governing body of the city or of
the unincorporated area of the county in
which the downtown redevelopment area is located shall either approve or deny
the application for redevelopment tax benefits based upon the following
criteria:
(1) The applicant has made, within a twelve-month period, an investment in
improvements to the real property or trade fixtures located therein, the value
of which is equivalent to or exceeds 25% of the appraised value of the
property, as determined by the county appraiser, for the immediately preceding
tax year; and
(2) the real property that is the subject of the application is in full
compliance with city ordinances or county resolutions.
12-17,124.Same; application of real property owners
for tax benefits; approval or denial, criteria.
(a) The owner of real property located within a downtown
redevelopment area may submit a written application to the governing body of
the city or of the unincorporated area of the county in which the redevelopment
area is located to request downtown
redevelopment area tax benefits. The application for tax benefits shall be made
on a form approved by the governing body of the city or of the unincorporated
area of the county or such governing body's designee, and shall
be accompanied by copies of dated records that verify the applicant's
investment in improvements to the real property or trade fixtures located
therein.
(b) After a review of the application for redevelopment tax benefits and
after an examination of the facts alleged, the governing body of the city or of
the unincorporated area of the county in
which the downtown redevelopment area is located shall either approve or deny
the application for redevelopment tax benefits based upon the following
criteria:
(1) The applicant has made, within a twelve-month period, an investment in
improvements to the real property or trade fixtures located therein, the value
of which is equivalent to or exceeds 25% of the appraised value of the
property, as determined by the county appraiser, for the immediately preceding
tax year; and
(2) the real property that is the subject of the application is in full
compliance with city ordinances or county resolutions.