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ASSESSMENT OF WIND ENERGY CONVERSION PROPERTY
Be it enacted by the Board of Supervisors of Shelby County,
Iowa:
SECTION 1. Purpose.
The purpose of this ordinance is to provide for
the special valuation of wind energy conversion property
pursuant to Iowa Code Chapter 427B.26.
SECTION 2. Definitions.
For use in this ordinance, certain terms and
words used herein shall be interpreted or defined as follows:
(a) "NET ACQUISITION COST"
means the acquired cost of the property including all
foundations and installation cost less any excess cost
adjustment.
(b)
"WIND ENERGY CONVERSION PROPERTY"
means the entire windplant including, but not limited to, a wind
charger, windmill, wind turbine, tower and electrical equipment,
pad mount transformers, power lines, and substation.
(c)
“TAXPAYER” means the owner of the
wind energy conversion property as defined above.
SECTION 3. Authority to Establish.
The Board of Supervisors is
authorized, pursuant to Iowa Code Chapter 427B.26 to provide by
ordinance for special valuation of wind energy conversion
property as provided in Section 4.
SECTION 4. Establishment.
Pursuant to Iowa Code Chapter 427B.26, a special
valuation of wind energy conversion property is allowed in lieu
of the valuation assessment provisions in Iowa Code Chapter
442.21(8)(b) and (c), and Iowa Code Chapters 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 this ordinance.
SECTION 5. Amount of Valuation.
Wind energy conversion property first
assessed on or after the effective date of the ordinance shall
be valued by the county assessor for property tax purposes as
follows:
(a) For the first assessment year, at zero
percent (0%) 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 (5%) each assessment year.
(c) For the seventh and succeeding
assessment years, at thirty percent (30%) of the net acquisition
cost.
SECTION 6. Declaration of Special Valuation.
The taxpayer shall file with the
county assessor by February 1 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 Section 5 lieu
of the valuation assessment provisions in Iowa Code Chapter
441.21(8)(b) and (c), and Iowa Code Chapters 428.24 to 428.29.
SECTION 7. 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 Section 6;
and by Feb. 1 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, and mailing
address;
(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.
SECTION 8. Repeal of Special Valuation.
If in the opinion of the Board of
Supervisors continuation of the special valuation provided under
Section 4 ceases to be of benefit to the county, the Board of
Supervisors may repeal the ordinance. Property specially valued
under section 4 prior to repeal of the ordinance shall continue
to be valued under Section 4 until the end of the nineteenth
(19th) assessment year following the assessment year in which
the property was first assessed.
SECTION 9. Repealer.
All ordinances or parts of ordinances in conflict
with the provisions of this ordinance are hereby repealed.
SECTION 10. Severability Clause.
If any section, provision, or other part of
this ordinance shall be adjudged invalid or unconstitutional,
said adjudication shall not affect the validity of the ordinance
as a whole or any section, provision, or other part thereof not
adjudged invalid or unconstitutional.
SECTION 11. Effective Date.
This ordinance shall become effective upon publication.
Passed and adopted this 21st day of October, 2008.
SHELBY COUNTY BOARD OF SUPERVISORS |
