§ 53-543. Determination and application of credit; agreement.

Upon application for a personal property tax credit to the office of economic development (OED), the OED shall determine whether the taxpayer and the taxpayer's personal property meet the criteria of sections 53-541 and 53-542.

(1)

If the OED determines that a taxpayer and the taxpayer's personal property meet the criteria of sections 53-541 and 53-542, the OED shall consult with the department of finance to establish which personal property is valued, assessed and taxable by the City and County of Denver.

(2)

When the OED and the department of finance have determined which personal property is valued, assessed and taxable by the City and County of Denver, the OED shall offer to the qualifying taxpayer an agreement setting forth the terms and conditions upon which the qualifying taxpayer may receive a tax credit.

(3)

Agreements between the city and qualifying taxpayers shall include, without limitation, terms and conditions necessary to demonstrate the taxpayer's eligibility for the tax credit throughout the term of the agreement.

(Ord. No. 426-12, § 4, 8-20-12, elec. 11-6-12)