Description: Exemptions for certain property that is purchased by a Web search portal business. This includes cooling systems, cooling towers, and other temperature control infrastructure; all power infrastructure for transformation, distribution or management of electricity used for the maintenance and operation of the Web search portal, including but not limited to exterior dedicated business-owned substations; back-up power generation systems, battery systems, and related infrastructure; and racking systems, cabling, and trays, which are necessary for the maintenance and operation of the Web search portal.
Eligibility: The Web search portal business must meet the requirements contained in Iowa Code section 423.3, subsection 92.
As part of the requirements under Iowa Code section 423.3(92), the data center business must make a minimum investment in an Iowa physical location of $200,000,000 within the first six years of operation in Iowa beginning with the date the data center business initiates site preparation activities.
Filing Requirements: The owner must file an application with the assessor by February 1 of the first year the exemption is claimed.
Form: Web Search Portal Business Property Tax Exemption (54-007)