Ordinance No. 19854 - Laserfiche WebLink

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ORDINANCE ND. 19854 AN ORDINANCE CONCERNING NON-PROFIT L4W~~INCOME HOUSING TAX EXEMPTIONS, LOW-INCOME RENTAL HOUSING PROPERTY TAX EXEMPTIONS, AND MULTIPLE-UNIT RENTAL HOUSING PROPERTY TAX EXEMPTIONS; AMENDING SECTIONS 2.912, 2.91fi, 2.92D, 2.938, 2.939, 2.94D, 2.945, AND 2.941 OF THE EUGENE CODE, 1911; AND DECLARING AN EMERGENCY. THE CITY OF EUGENE DOES ORDAIN AS FOLLOWS: Section 1. Subsectian ~4} of 5ectian 2.912 of the Eugene Code, 1911, is amended to provide: 2.912 Low Income Housin Tax Exem tion ~ A lication for Exem tion. ~4} An application must be f i 1 ed on or before the March 1 immediately preceding the tax year for which the exemption is requested. Section 2. Subsection ~2} of Section 2.916 of the Eugene Code, 1971, is amended to provide: 2.916 low Income Housin Pro ert Tax Exem tion - Annual A lication Renewal. ~2} Applicants for property tax exemption under section 2.912 of this code shall apply and may be eligible for property tax exemptions for tax years beginning an or after July 1, 1959, but na later than July 1, 1994. Section 3. Section 2.90 of the Eugene Code, 1911, i s amended to pravi de 2.920 Low Income Housin Pro ert Tax Exem tian -Assessment Exem tion. ~ 1 } Property for which an application for a property tax exemption has been approved under the provisions of sections 2.910 to 2.922 shat 1 be exempt from ad va]orem taxation for one tax year beginning on or after July 1 of the year immediately following the calendar year i n which construction i s completed, determined by that stage i n the construction process when, pursuant to ORS 301.330, the praperty would have gone on the tax rolls i n the absence of the exemption. The exemption provided for herein shall be in addition to any other exemption provided by law. ~2} Applications far property tax exemption under section 2.912 shall apply to and may be approved for tax years beginning no later than July 1, 1994. Section 4, Section 2.938 of the Eugene Code, 1911, i s amended to provide : 2.938 law- Income Rental Housin Pro ert Tax Exem t i on - A l i cat i on . ~1} An application for exemption from praperty taxes hereunder for Ordinance - 1