Legislative findings, in accordance with I.C. 6-1.1-12.1-2 are hereby made by the Town Council as follows.
(A) The Council hereby finds that there is a need to develop tax abatement procedures which set forth the philosophy, regulations, procedures and general standards, which the town believes are necessary to encourage economic development within the town limits.
(B) The Council therefore declares that the following tax abatement procedures and general standards shall govern tax abatement requests filed for consideration with the town.
(C) The following tax abatement procedures and general standards are promulgated pursuant to the Home Rule powers vested in the town pursuant to I.C. 36-1-3-1 et seq. and the property tax abatement statutes as set forth in I.C. 6-1.1-12.1 et seq. All persons, who desire to seek real or personal property tax abatement consideration, have the duty to comply with the applicable provisions set forth in this subchapter, as well as all state law requirements. However, those persons who petition pursuant to § 34.027, must only comply with the applicable slate law provisions, and the requirements of annual review provided for herein in § 34.033.
(Ord. 5-97, passed 3-24-1997)