Chapter 4.05
WIND ENERGY CONVERSION PROPERTY SPECIAL VALUATION
Sections:
4.05.030 Authority to establish.
4.05.060 Declaration of special valuation.
4.05.070 Reporting requirements.
4.05.080 Repeal of special valuation.
4.05.010 Purpose.
The purpose of this chapter is to provide for the special valuation of wind energy conversion property pursuant to Iowa Code Section 427B.26. [Ord. 136 § 1, 2015.]
4.05.020 Definitions.
For use in this chapter, certain terms and words used herein shall be interpreted or defined as follows:
“Net acquisition cost” means the acquired cost of the property including all foundations and installation cost less any excess cost adjustment.
“Taxpayer” means the owner of the wind energy conversion property as defined above.
“Wind energy conversion property” means the entire wind plant including, but not limited to, a wind charger, windmill, wind turbine, tower and electrical equipment, pad mount transformers, power lines and substation. [Ord. 136 § 2, 2015.]
4.05.030 Authority to establish.
The Board of Supervisors is authorized, pursuant to Iowa Code Section 427B.26, to provide by ordinance for special valuation of wind energy conversion property as provided in BHCC 4.05.040. [Ord. 136 § 3, 2015.]
4.05.040 Establishment.
Pursuant to Iowa Code Section 427B.26, a special valuation of wind energy conversion property is allowed in lieu of the valuation assessment provisions in Iowa Code Sections 442.21(8)(b) and (c), and Iowa Code Sections 428.24 to 428.29. The special valuation shall only apply to wind energy conversion property first assessed on or after January 1, 2009, and on or after the effective date of the ordinance codified in this chapter. [Ord. 136 § 4, 2015.]
4.05.050 Amount of valuation.
Wind energy conversion property first assessed on or after the effective date of the ordinance codified in this chapter shall be valued by the County Assessor for property tax purposes as follows:
A. For the first assessment year, at zero percent of the net acquisition cost.
B. For the second through sixth assessment years, at a percent of the net acquisition cost which rate increases by five percent each assessment year.
C. For the seventh and succeeding assessment years, at 30 percent of the net acquisition cost. [Ord. 136 § 5, 2015.]
4.05.060 Declaration of special valuation.
The taxpayer shall file with the county assessor by February 1st of the assessment year in which the wind energy conversion property is first assessed for property tax purposes a declaration of intent to have the property assessed at the value determined under BHCC 4.05.050 in lieu of the valuation assessment provisions in Iowa Code Section 441.21(8)(b) and (c), and Iowa Code Sections 428.24 to 428.29.
If the taxpayer does not file with the County Assessor by February 1st of the assessment year for which the person files a declaration of intent to have the property assessed as provided above, then the declaration of intent shall be considered as a declaration filed for the following year. [Ord. 136 § 6, 2015.]
4.05.070 Reporting requirements.
The following reports shall be filed annually with the County Assessor by the taxpayer; in the first year, with the declaration of intent as prescribed in BHCC 4.05.060; and by February 1st of each year thereafter:
A. Copy of asset ledger sheet to IRS;
B. Engineering breakdown of component parts;
C. Tower numbering system;
D. Name of contact person, phone number, fax number, mailing address and email;
E. Report of all leased equipment, the name(s) of the company(s) it is leased from and the agreement between the lessor and lessee regarding who is responsible for the property tax on the leased equipment;
F. All capital investment costs. [Ord. 136 § 7, 2015.]
4.05.080 Repeal of special valuation.
If in the opinion of the Board of Supervisors continuation of the special valuation provided under BHCC 4.05.040 ceases to be of benefit to the County, the Board of Supervisors may repeal the ordinance codified in this chapter. Property specially valued under BHCC 4.05.040 prior to repeal of the ordinance codified in this chapter shall continue to be valued under BHCC 4.05.040 until the end of the nineteenth assessment year following the assessment year in which the property was first assessed. [Ord. 136 § 8, 2015.]