There is hereby established a program for the granting of property assessment or reassessment moratoriums for qualifying units of real property located in the city. To be eligible, a residential building in the city must have been in existence for at least 25 years and be used to provide independent living facilities for one or more persons. For a commercial building to be eligible, it must be at least 25 years old and have as its primary purpose and use the operation of a commercial business enterprise.
(Ord. 2020-36, passed 11-17-20)