3.732 Construction Excise Tax – Tax Imposed.
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(1) Each person who applies to construct a commercial improvement in the city shall pay a commercial construction excise tax in the following amounts:
(a) From July 1, 2019 through June 30, 2020: 0.33 percent of the value of the improvement.
(b) Beginning July 1, 2020: 0.50 percent of the value of the improvement.
(2) Each person who applies to construct a residential improvement in the city shall pay a residential construction excise tax in the following amounts:
(a) From July 1, 2019 through June 30, 2020: 0.33 percent of the value of the improvement.
(b) Beginning July 1, 2020: 0.50 percent of the value of the improvement.
(3) The construction excise tax shall be due and payable prior to the issuance of any building permit.