(a) Community Reinvestment Area No. 1.
(1) Process for Residential Structures: The owner of any real property within CRA No. 1 may file an application for an exemption from real property taxation for a new structure or remodeling with the Housing Officer. The Housing Officer shall verify the construction of the new structure or the cost of remodeling and the facts asserted in the application. The Housing Officer shall determine whether the construction or the cost of the remodeling meets the requirements for an exemption under ORC 3735.67(D). If the construction or remodeling meets the requirements for exemption, after complying with the notice requirements of Section 886.06(a), the Housing Officer shall grant an exemption for the following exemption period:
A. Up to ten (10) years for the remodeling of every one- (1-) and two- (2-) family residential dwellings where the cost of remodeling is at least two thousand five hundred dollars ($2,500) [ORC 3735.67(D)(1)];
B. Up to twelve (12) years for the remodeling of every multi-family dwelling containing three (3) or more residential units where the cost of the remodeling is at least five thousand dollars ($5,000) [ORC 3735.67(D)(2)]; and
C. Up to fifteen (15) years for the new construction of residential structures [ORC 3735.67(D)(3)].
(2) Process for Commercial and Industrial Structures: The owner of any real property within CRA No. 1 may file an application for an exemption from real property taxation for a new structure or remodeling with the Housing Officer. The Housing Officer shall verify the construction of the new structure or the cost of remodeling and the facts asserted in the application, and shall forward the application and the Housing Officer's verification to City Council. If City Council determines that the construction or cost of remodeling meets the requirements for an exemption under ORC 3735.67(D), after complying with the notice requirements of Section 886.06(a), the City Council, by resolution, shall grant an exemption for the following exemption period:
A. Up to twelve (12) years for the remodeling of commercial or industrial structures where the cost of remodeling is at least five thousand dollars ($5,000) [ORC 3735.67(D)(2)]; and
B. Up to fifteen (15) years for the new construction of commercial and industrial structures [ORC 3735.67(D)(3)].
(3) Certification to County Auditor: Upon the grant of an exemption by the Housing Officer, in the case of residential structures, or City Council, in the case of commercial or industrial structures, the Housing Officer shall forward the application to the Greene County Auditor with a certification as the division of ORC 3735.67 under which the exemption is granted and the period of the exemption.
(4) Exemption: The CRA tax exemption shall first apply in the year following the calendar year in which the certification to the Greene County Auditor is made.
A. If the exemption is for a remodeling which qualifies for an exemption under Section ORC 3735.67(D)(1) and (D)(2), the dollar amount by which the remodeling increased the market assessed value of the structure shall be exempt from real property taxation during the exemption period.
B. If the exemption is for new construction which qualifies for an exemption under Section ORC 3735.67(D)(3), the structure shall not be considered an improvement on the land on which it is located for the purpose of real property taxation during the exemption period.
(Ord. 15-57. Adopted 11/24/15; Ord. 2023-39. Adopted 12/28/23)
(Editor's Note: CRA No. 1 was originally established by Resolution 85-G, passed on 08/08/1985, and was codified by the adoption of Ordinance 15-57, adopted on 11-24-15)