A. The exemption granted under this chapter applies only to the tax levy of the City, except that the tax exemption applies to the ad valorem property taxes of all taxing districts when upon request of the City, the rates of ad valorem taxation of taxing districts whose governing boards agree by resolution to the tax exemption for the project, when combined with the rate of taxation of the City, equal 51 percent or more of the total combined rate of taxation levied on the property which is tax exempt under ORS 307.600 to 307.637.

B. Application is required for each assessment year the property tax exemption is desired.

C. Applications for property tax exemption under this chapter are eligible for property tax exemptions for tax years beginning on or after July 1, 2023.

D. The exemption provided for in this chapter is in addition to any other exemption provided by law. [Ord. NS-2446, 2022]