An application shall be filed for each speculative shell building resulting in actual value added for which an exemption is claimed in the manner provided by Iowa Code § 427B.4. The application for exemption shall be filed by the owner of the property with the local assessor by February 1 of the assessment year in which the value added is first assessed for taxation. Applications for exemption shall be made on forms prescribed by the Director of Revenue and shall contain information pertaining to the nature of the improvement, its cost and other information deemed necessary by the Director of Revenue.
(Ord. 2290, passed 4-12-2005)