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City of Kingsley — Ordinance No. 265

An Ordinance Amending the Code of Ordinances by Adding Chapter 161
“Assessment of Property for Housing Developments Within the City Limits”
in the City Of Kingsley, Iowa

That Chapter 161, Assessment of Property for Housing Developments Within the City Limits is hereby adopted as follows:

161.01 PURPOSE. The purpose of this Chapter is to promote residential growth and development within the City Limits and to provide for the general welfare of its citizens.

161.02 TAX STATUS. Pursuant to Iowa Code Section 405.1(3) 2011 the City hereby extends for a period of time not to exceed five years the tax status limitations affecting the assessment of property subdivided for development of housing within City limits on or after January 1, 2015, but before January 1, 2022, and property subdivided for development of housing within City limits after January 1, 2022 and beyond subject to those tax status limitations as found in Iowa Code Section 405.1(1)(a). All property acquired and subdivided for development in accordance with the dates above shall continue to be assessed for taxation in a manner that it was prior to the acquisition for housing until the lot is sold for construction or occupancy of housing or five years from the extended date now offered in Iowa Code Section 405.1, whichever is shorter. Upon the sale or the expiration of the five year period, the property shall be assessed for taxation as residential or commercial multifamily property, whichever is equitable.

161.03 SPECIAL ASSESSMENTS. This ordinance does not apply to special assessment levies.

161.04 REFUND. Nothing in this ordinance shall be construed to require the refund or modification of property taxes that are attributable to assessment years beginning before January 1, 2022 or the adjustment of property assessments for assessment years beginning before January 1, 2022.

161.05 IMPLEMENTATION. This ordinance shall take effect upon passage by the City Council and applies to assessment years beginning on or after January 1, 2022.

All Ordinances or parts of Ordinances in conflict with the provisions of this Ordinance are hereby repealed.

This Ordinance shall be in full force and effect from and after its passage, approval and publication as required by law.

PASSED AND APPROVED this 2nd day of May, 2022.

First Reading: May 2, 2022
Second Reading: waived
Third Reading: waived

/s/ Rick Bohle
Rick Bohle, Mayor

/s/ Vicki Sitzmann
Vicki Sitzmann, City Clerk

Published in The Record
Thursday, May 12, 2022

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