Ordinance 13-23

Enterprise Zone Investment Deductions (EZIDs) are available in the Enterprise Zone and provide a deduction on property taxes equal to 100% of a qualified investment for a period of 10 years, running from the year the Assessed Value of the property first reflected that investment. In 2008, in order to offset some of the effects of the Circuit Breaker legislation, which limited revenues available to local government, the General Assembly added IC 6-1.1-45-9(d), which required legislative body to approve EZIDs for qualified investments made within TIF districts. This ordinance establishes procedures and criteria for consideration of those deductions by the City Council