All existing residential and commercial structures at least 25 years old may qualify for a reassessment moratorium if:
(A) The costs of the improvements made to the structure to repair, rehabilitate, restore or stabilize it is equal to at least 25% of the value of the improvements on the property based on the latest assessment made by the Jefferson County Property Valuation Administrator; or
(B) The cost of the enhancements made to the structure to repair, rehabilitate, restore or stabilize it is equal to at least 10% of the value of the improvement on the property based on the latest assessment made by the Jefferson County Property Valuation Administrator and the property is located within a “Qualified Census Tract” (QCT), designated by the United States Department of Housing and Urban Development, where at least 50% of households have an income less than 60% of the Area Median Gross Income in Jefferson County; or
(C) The cost of the enhancements made to the structure to repair, rehabilitate, restore or stabilize it is equal to at least 5% of the value of the improvement on the property based on the latest assessment made by the Jefferson County Property Valuation Administrator and the property is located within one of the following traditional urban neighborhoods, as defined by the Louisville/Jefferson County Information Consortium on January 1, 2020 and illustrated in the maps attached as Exhibit A: Algonquin, California, Chickasaw, Park Duvalle, Park Hill, Parkland, Portland, Russell, Shawnee, Shelby Park, and Smoketown Jackson; and the property is owner-occupied; or
(D) The qualifying property will, at the conclusion of the plan of improvement, be an LEED Certified property based on the Leadership in Energy and Environmental Design standards in effect at the time of application.
(1994 Jeff. Code, § 154.02) (Jeff. Ord. 10-1983, adopted and effective 6-28-1983; Lou. Metro Am. Ord. No. 114-2007, approved 7-2-2007; Lou. Metro Am. Ord. No. 127-2009, approved 8-31-2009; Lou. Metro Am. Ord. No. 45-2020, approved 3-20-2020)
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