15.332 - VALUE-ADDED PROPERTY TAX EXEMPTION.
15.332 VALUE-ADDED PROPERTY TAX EXEMPTION.
1. The community may exempt from taxation all or a portion of the
actual value added by improvements to real property directly related
to new jobs created by the location or expansion of an eligible
business under the program and used in the operations of the eligible
business. The exemption may be allowed for a period not to exceed
twenty years beginning the year the improvements are first assessed
for taxation.
2. For purposes of this section, "improvements" includes new
construction and rehabilitation of and additions to existing
structures. The exemption shall apply to all taxing districts in
which the real property is located. Section History: Recent Form
94 Acts, ch 1008, §9; 94 Acts, ch 1165, §43
Referred to in § 15.119, 15.335A, 427B.17