(A) Vacant properties meeting the following conditions may be exempt from this chapter.
(B) Exempt properties are properties for which the Village Board of Trustees has granted an exemption as set forth in this section that are:
(1) Property advertised in good faith for sale or lease (for the purpose of this section, GOOD FAITH is defined as being listed for sale and actively marketed at a price no more than 125% of the assessed value as determined by the County Assessor);
(2) Property actively under construction (a property is “under construction” when the Village Clerk-Treasurer has issued a valid building permit to the owner of the property, however, this exemption shall cease to apply if the building permit is revoked or expires in any way); or
(3) Owned by the federal government, the state or any political subdivision thereof.
(Ord. 2022-3, passed 10-4-2022)