Requests for a Property Tax exemption under this chapter will be considered by the Board using criteria set by resolution. This criteria will weigh the economic benefit of the proposed plant investment and the specific attributes of any affordable housing project.
A. All Property Tax exemption applications must meet the minimum plant investment and other requirements set forth in Idaho Code section 63-602NN.
B. In considering requests under this chapter, the Board will review its criteria to determine whether granting the tax exemption will lead to significant economic benefits in the community. The criteria are intended to give taxpayers guidance on the extent to which the Board is willing to grant full or partial tax exemption requests pursuant to Idaho Code section 63-602NN.
C. The Board may require any additional information from the taxpayer that it deems necessary, and if the information includes trade secrets, as that term is defined by Idaho law, the Board may review the materials in executive session.
D. At the hearing, the Board may grant, partially grant, or deny the tax exemption request. The Board retains the full discretionary authority to grant or deny all or part of the exemption request for any reason, and to structure the duration and extent of the exemption in any way it deems appropriate in accordance with Idaho Code section 63-602NN. The Board also may require any additional requirements that it deems necessary as conditions of exemption approval.
E. Upon granting a full or partial tax exemption under this chapter, the taxpayer and County shall enter into a contract as a condition of approval for the duration of the exemption period. Such contract shall provide the terms and conditions upon which the exemption is granted and shall give the County the full authority to unilaterally terminate, modify, or impose additional conditions upon the tax exemption holder in the event the contract is breached or if the project no longer qualifies for the tax exemption in the sole estimation of the Board.
F. The grant of an exemption pursuant to this chapter shall be valid for up to a total period of five (5) years for all or a part of the change from the base value attributable directly to the plant investment. (Ord. 2019-07, 4-9-2019)