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(f) The exemption provided by this division shall be administered by the city assessor and the city treasurer. Such officials are hereby authorized and directed to adopt and enforce such reasonable rules and regulations, not in conflict with the provisions of this division, as may be reasonably necessary to implement the exemptions authorized by this division. (g) This division shall be applicable to assessments of qualifying residential real estate made on and after January 1, 2001; however, no new application for the exemption provided by this division shall be accepted after September 1, 2,0 0 2007. (h) The exemption provided by this division shall not affect any special district taxes or levies within the city. All such taxes shall be computed on the full assessed value of the qualifying real estate. (i) Nothing within this division shall be construed to permit the city assessor to list upon the land book any reduced value due to the exemption provided herein. 0) In determining the base value of any residential real estate, and in determining whether any building or structure has been substantially rehabilitated, renovated or replaced, the city assessor shall employ usual and customary methods of assessing real estate and improvements thereon. (k) No residential real estate which has been determined to qualify for an exemption • under this division shall be eligible to submit any application for further tax credits based on subsequent improvements during the pendency of the initial eligibility period. Notwithstanding the foregoing, if residential real estate which has qualified for a tax exemption in accordance with this division is damaged by an occurrence beyond the control of the owner or occupant, and if such residential real estate otherwise is qualified under this division, then the owner may apply for a tax exemption based on the then - present value of the damaged residential real estate, and the qualification for any new tax exemption shall supersede and extinguish any tax exemption that may have been available under the previous qualification. For the purpose of this subdivision, the phrase "an occurrence beyond the control of the owner or occupant" shall refer to an event such as a fire, flood or windstorm that reduces the assessed value of the residential real estate by no less than twenty-five (25) percent. (1) This ordinance and its impact on City real property tax revenues shall be reviewed by City Council annually, beginning in September, 2005. Approved by Council February 22, 2005 Cl of City Council 0