Wind energy conversion property, first assessed on or after the effective date of this chapter, shall be valued by the County Assessor for property tax purposes as follows:
Assessment year 1 | 0% of net acquisition cost |
Assessment year 2 | 5% of net acquisition cost |
Assessment year 3 | 10% of net acquisition cost |
Assessment year 4 | 15% of net acquisition cost |
Assessment year 5 | 20% of net acquisition cost |
Assessment year 6 | 25% of net acquisition cost |
Assessment year 7 | 30% of net acquisition cost |
Assessment years after the 7th year | 30% of net acquisition cost |
(Ord. 24, passed 7-25-2006)