08-A Historic Tax Abate Ord.wpd - Laserfiche WebLink

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(c) Eligibility requirements for a tax abatement - to be eligible for a property tax abatement, a property must as a minimum meet the following requirements: 1.The property must meet the requirements for designation as a historically significant site. 2.The property must meet all requirements for application, certification and verification as set forth herein. 3.The property must be certified in accordance with the procedures set out herein as being in need of tax relief to encourage its preservation. 4.Tax abatement will be considered for eligible projects resulting in added real property tax value above the base year for an expenditure in an amount of not less than five thousand dollars ($5,000.00). 5.To be eligible for such an abatement, no property taxes may be owed on the property itself, and the property owner must be current in the payment of all property taxes for property owned and located within the City of Paris at the time of application and throughout the term of the abatement. 6.All construction must be performed in full compliance with all applicable city codes. (d) Grant of tax abatement discretionary - The grant of any tax abatement as provided in this Article IV shall be at the sole discretion of the City Council of the City of Paris, and the creation of this policy providing for such tax abatement shall not in any way be construed to imply that any applicant for tax abatement under this Article IV has the right or entitlement to any such tax abatement. In exercising such discretion, the City Council may determine those tax abatements which best serve the needs of the City of Paris for preservation of historical structures relative to the tax revenue lost as the result of such abatement. Sec. 30-51. Application process. Applications for a historically significant site tax abatement pursuant to this Article are to be filed with the City Manager, or such other city official designated by the City manager of the City of Paris, who shall be the agent for the City for the purposes of administering this Article. Each application must be signed by the owner of the property, be acknowledged before a notary public, and shall: (a) State the legal description; (b) Include an affidavit by the owner stating the proposed property is located within an Historic District (HD), that no taxes are owed thereon, and that no taxes are owed on any property in the City of Paris owned by the property owner; -3-