Effective - 28 Aug 2021
137.123. Wind energy property, true value calculation for assessment purposes — original costs, how determined — enterprise zone agreements allowed. — 1. Beginning January 1, 2022, for purposes of assessing all real property, excluding land, or tangible personal property associated with a project that uses wind energy directly to generate electricity, thirty-seven and one-half percent of the original costs shall be the true value in money of such property. Such value shall begin the year immediately following the year of construction of the property. The original costs shall reflect either:
(1) The actual and documented original property cost to the taxpayer, as shall be provided by the taxpayer to the assessor; or
(2) In the absence of actual and documented original property cost to the taxpayer, the estimated cost of the property by the assessor, using an authoritative cost guide.
2. Nothing in this section shall be construed to prohibit a project from engaging in enhanced enterprise zone agreements under sections 135.950 to 135.973 or similar tax abatement agreements with state or local officials or to affect any existing enhanced enterprise zone agreements.
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(L. 2021 H.B. 734)