§ 35.038 TERM AND AMOUNT OF EXEMPTION.

   The actual value added by new construction of a speculative shell building as defined in this subchapter is eligible to receive a partial exemption from taxation for a period of five years. The amount of exemption from taxation for actual value added shall be as follows:

   (A)   For the first year, 75%;

   (B)   For the second year, 60%;

   (C)   For the third year, 45%;

   (D)   For the fourth year, 30%; and

   (E)   For the fifth year, 15%.

(Ord. 2290, passed 4-12-2005)