The City Council can enact an ordinance to exempt from property taxation, the actual value added to industrial real estate by new construction, and the acquisition of an improvement to machinery and equipment assessed on real estate.
Amount of Exemption:
The amount of actual value added which is eligible to be exempt from taxation shall be as follows:
| Year 1 | 75% |
| Year 2 | 60% |
| Year 3 | 45% |
| Year 4 | 30% |
| Year 5 | 15% |
This schedule shall be followed unless an alternative schedule is adopted. The alternative schedule shall not provide for a larger exemption in a particular year than is provided by the schedule.
You can reach us at:
City of
Ames, Room 214
515 Clark Avenue
P.O. Box 811
Ames, IA 50010
515-239-5400
515-239-5404 -
FAX
515-239-5133 - TDD