On the assessment date next following the expiration, cancellation or revocation of an assessment or reassessment moratorium, the property shall be assessed on the basis of its full fair cost value.
(1994 Jeff. Code, § 154.10) (Jeff. Ord. 10-1983, adopted and effective 6-28-1983; Lou. Metro Am. Ord. No. 114-2007, approved 7-2-2007)