A. Except as provided in subsection (B) of this section, the exemptions granted under this chapter apply only to the tax levy of the City.

B. The exemption granted under this chapter applies to the tax levy of all taxing districts in which property certified for exemption is located if, upon request, the rates of taxation of such taxing districts whose governing boards agree to the policy of exemption under ORS 307.515 through 307.523, when combined with the rate of taxation of the City, equal 51 percent or more of the total combined rate of taxation on the property granted exemption.

C. Property tax exemptions approved under this chapter will be for a period of 20 years. For example, in the event that an exemption is initially approved for an undeveloped parcel and later the exemption was extended to include subsequent construction, the total duration of the exemption may not be increased but will continue to run for a maximum of 20 years from the initial approval. Nothing in this chapter prevents a subsequent, new application for an additional 20-year exemption from being submitted after the first exemption term is completed.

D. Applications for property tax exemption under this policy are eligible for property tax exemptions for tax years beginning on or after July 1, 2004.

E. The exemption provided for in this chapter is in addition to any other exemption provided by law. [Ord. NS-2418, 2021]