§ 37.081 APPLICABILITY AND APPLICATION FOR REDUCED TAXATION.
   (a)   This subchapter shall apply only to those new commercial residential structures or additions that meet the criteria for qualifying projects identified in § 37.083.
   (b)   Any person desiring to claim reduced taxation shall make an application to the planning and development services department on or before the date a building permit is issued for the construction of a structure or facility. The application shall be submitted on a form prescribed by the city and include a copy of the site and building plans.
   (c)   Upon approval of the application, the planning and development services department shall notify the applicant stating whether the facility is eligible to receive reduced taxation.
   (d)   In January, the year following completion of the project, planning and development services department will certify those improvements which qualify for reduced taxation to the director of equalization in the county in which the real property is taxed. New construction tax incentives are not assignable or transferable, except as collateral or security pursuant to SDCL ch. 57A-9, Secured Transactions.
   (e)   Any person aggrieved by a decision of the planning director under this subchapter may file an appeal according to the procedure set forth in §§ 30.040 through 30.046.
(Ord. 41-24, passed 5-14-2024)