9-6-7: CONSUMER PRICE INDEX:
The fair market value identified in section 9-6-6 of this chapter shall be subject to a "CPI adjustment" which shall be calculated annually based on the most recent December to December change in CPI and which adjustment shall go into effect on February 1, 2009, and on February 1 in each year thereafter or as soon thereafter as such data becomes available. The CPI shall be based on the annual percentage change as published by the United States department of labor's bureau of labor statistics consumer price index for all urban consumers ("CPI-U") for the Chicago-Gary-Kenosha, IL-IN-WI area (identification number CUURA207SA0). The index base period of 1982-1984=100 shall be used. If the CPI or this particular regional designation is changed, discontinued or replaced, such other governmental cost of living index or computation that replaces the CPI shall be used in order to obtain substantially the same result as would be obtained if the CPI had not been discontinued or replaced. (Ord. 1150, 11-19-2008)