(A) Exemption granted. There is hereby established a property tax exemption against the county property tax imposed on machinery, equipment, materials and supplies:
(1) That are consumed in or used primarily in research and development;
(2) That were purchased in or transferred into the county; and
(3) That are in use for such purpose in the tax reporting period.
(2004 Code, § 209-17)
(B) Definition. For the purpose of this section, the following definition shall apply unless the context clearly indicates or requires a different meaning:
RESEARCH AND DEVELOPMENT.
(a) Includes:
1. Basic and applied research in the sciences and engineering; and
2. The design, development, and governmentally required premarket testing of prototypes, products, and processes.
(b) As used in this section,
RESEARCH AND DEVELOPMENT does not include:
1. Market research;
2. Research in the social sciences or psychology and other nontechnical activities;
3. Routine product testing;
4. Sales services;
5. Technical and nontechnical services; or
6. Research and development of a public utility.
(2004 Code, § 209-18)
(C) Amount of exemption. The amount of the partial tax exemption granted hereby is equal to 100% of the assessment of the property described in division (a) of the definition in division (B) above.
(2004 Code, § 209-19)
(Ord. 145, passed 2-29-1996)