(A) Generally. The Council believes that the following general standards have a reasonable relationship to the development objectives of promoting the installation of new personal property within the county, and would warrant tax abatement consideration as set forth herein.
(B) Base abatement general standards.
(1) An applicant seeking personal property tax abatement must comply with all of the provisions of I.C. 6-1.1-12.1-4.5, and the provisions of this chapter that are applicable.
(2) An applicant complying with the provisions may be considered for a base abatement consisting of five years’ personal property tax abatement. In the case of exceptional developments that create significant employment and tax revenues, such as I/N Tek, I/N Kote and the AM General H2 project, the County Council may consider a personal property tax abatement of up to ten years.
(C) Certification of new manufacturing equipment, new research and development equipment, new logistical distribution equipment and new information technology equipment. An applicant seeking personal property tax abatement must certify that it will use the new manufacturing equipment, new research and development equipment, new logistical distribution equipment and new information technology equipment in one or more of the uses listed within the definition of new manufacturing equipment, new research and development equipment, new logistical distribution equipment and new information technology equipment set forth in I.C. 6-1.1-12.1 et seq.
(D) No add-on abatement. No add-on abatement will be granted for personal property.
(Ord. 24-09, passed 5-12-2009)
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