(A) Unless otherwise provided in the certificate, the moratorium shall become effective on the assessment date next following the issuance of the moratorium certificate and shall remain in effect for five years, or the period listed if the certificate is less than five years.
(B) An assessment or reassessment moratorium certificate may be transferred or assigned by the holder of the certificate to a new owner or lessee of the property.
(C) Any property granted an assessment or reassessment moratorium may be eligible for a subsequent moratorium certificate provided that reapplication be made no sooner than three years following the expiration of the original moratorium.
(D) 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 cash value.
(Ord. 90-12, passed 11-27-90)