[Adopted 8-13-2013 by L.L. No. 15-2013]
The purpose of this article is to provide tax relief to those
property owners who construct, reconstruct or expand structures on
their property that meet or exceed LEED certification standards for
green buildings.
Construction of improvements to real property meeting LEED certification
standards for green buildings shall be exempt from taxation to the
extent provided by this article.
Such real property, or portion thereof, which is certified under
a LEED certification standard for the categories of certified silver,
gold, or platinum as meeting green building standards, as determined
by a LEED-accredited professional shall be exempt as provided below
for the respective percentages, provided that a copy of the LEED certification
for a qualified category is filed with the Assessor's office and is
approved by the Assessor as meeting the requirements of this article.
Such exemption shall be to the extent of any increase in assessed
value resulting from the construction or reconstruction of a property
meeting LEED certification or the maximum exempt amount, whichever
is less.
|
LEED Exemption
| |||
|---|---|---|---|
|
Year
|
Silver
|
Gold
|
Platinum
|
|
1
|
100%
|
100%
|
100%
|
|
2
|
100%
|
100%
|
100%
|
|
3
|
100%
|
100%
|
100%
|
|
4
|
80%
|
100%
|
100%
|
|
5
|
60%
|
80%
|
100%
|
|
6
|
40%
|
60%
|
100%
|
|
7
|
20%
|
40%
|
80%
|
|
8
|
0%
|
20%
|
60%
|
|
9
|
0%
|
0%
|
40%
|
|
10
|
0%
|
0%
|
20%
|
A.
No such exemption shall be granted unless such construction of improvements
was commenced on or after January 1, 2013; the value of such construction
exceeds the sum of $10,000; and such construction is documented by
a building permit for the improvements or other appropriate documentation
as required by the Assessor. For purposes of this section the term
"construction of improvements" shall not include ordinary maintenance
and repairs.
B.
If the Assessor is satisfied that the applicant is entitled to an
exemption pursuant to this section, he or she shall approve the application,
and such real property shall thereafter be exempt from taxation as
provided in this article commencing with the assessment roll prepared
after the taxable status date. The assessed value of any exemption
granted pursuant to this section shall be entered by the Assessor
on the assessment roll with the taxable property, with the amount
of the exemption shown in a separate column.
In addition to the LEED certification standards for green buildings,
the exemption shall also apply where the construction of improvements
meets the Green Building Initiative's Green Globes Rating System,
the American National Standards Institute, or any other substantially
equivalent standards for certification using a similar program for
green buildings, as determined by the Assessor.
The maximum exemption amount for the exemption provided by this
article shall be $1,000,000 of assessed value of the qualifying construction
improvements.
