Section 4728.403 - Exemption incentives procedure(a)Notification.--A taxpayer desiring tax exemption authorized by an ordinance or resolution adopted under this chapter shall notify the local taxing authority granting the exemption in writing on an application form provided by the local taxing authority, submitted at the time the taxpayer secures the building permit or, if no building permit or other notification of new construction or improvement is required, at the time the taxpayer commences construction. The application shall include the following information: (1) A statement of tax obligations, signed by the applicant and the local taxing authority and notarized.(2) An outline of specifications for the new construction or improvement, indicating with as much specificity as practicable, the materials to be used for exterior and interior finishes.(3) An itemized cost estimate for the new construction or improvement. The itemization must: (i) Be on contractor letterhead.(ii) Indicate the property address of the project.(iii) Be signed by the applicant.(4) A preliminary architectural drawing or blueprint for the new construction or improvement.(5) A recent appraisal of the property, if available.(6) An applicable building permit application or building permit.(7) An income and expense report for the property, which may be submitted directly to the county assessment office in order to protect the confidentiality of the information.(8) The final decision of the zoning authority or other regulatory agency granting relief, if applicable.(9) The signature of the applicant and the date of signing.(b)Estimate.--The amount of assessment deemed eligible for tax exemption under subsection (c) shall be available for public inspection and copying so a subsequent purchaser is informed of the amount of taxes to be paid after the 10-year exemption period.(c)County assessment office.-- (1) A copy of the exemption request shall be forwarded to the county assessment office. After completion of the new construction or improvement, the county assessment office shall:(i) Separately assess the new construction or improvement and calculate the amounts of the assessment eligible for tax exemption in accordance with the limits established by the local taxing authorities.(ii) Notify the taxpayer and the local taxing authorities of the reassessment and amounts of the assessment eligible for exemption.(2) Appeals from a reassessment and the amounts eligible for the exemption may be taken by the taxpayer or the local taxing authorities.(d) Amendment of ordinance or resolution.--The cost of new construction or improvements to be exempted and the schedule of taxes exempted which exist at the time of the initial request for tax exemption shall apply to the exemption request. A subsequent amendment to the ordinance or resolution shall not apply to a request initiated prior to adoption of the amendment.Added by P.L. TBD 2022 No. 58, § 403, eff. 9/9/2022.