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The city treasurer shall be entitled to credit the amounts certified by the city assessor under section 30- 158 against the total real estate taxes shown on the land book for the tax year in question and shall • indicate the amount of each such exemption as a credit on the tax tickets of each qualifying property. Under no circumstances shall the exemption available under this division be applied to any property other than the qualifying residential real estate for which the exemption has been obtained, nor shall the exemption be applied in any calendar year to real estate taxes assessed in any other calendar year. Sec. 30-160. Administration. (a) The owner of residential real estate who seeks to obtain the exemption authorized by this division shall apply to qualify for the exemption at the same time he applies for a building permit to rehabilitate, renovate or replace a building or structure. The application for exemption shall be filed with the city assessor. (b) Upon receipt of an application to qualify for the exemption provided by this division, the city assessor shall determine a base fair market value assessment for the building, of structure and improvements prior to commencement of any improvements for which exemption is sought. The base fair market value shall be the most recent assessment of the building, of structure, and improvements on the property for which the application is submitted ("base value). (c) The application to qualify for the tax exemption shall be effective until December 31 of the calendar year following the year in which the application was filed. If, by such expiration date, rehabilitation, renovation or replacement has not progressed to the point that it maybe determined to be substantial, compared with the base value, and if the applicant desires to proceed, then a new . application shall be filed and the city assessor shall establish a new base value. (d) All initial and subsequent applications for the partial exemption allowed by this division shall be accompanied by payment of a non-refundable fee, in the amount of fifty dollars ($50.00) for processing the application. (e) During the period an application remains pending, the owner shall remain subject to real estate taxation upon the full assessed value of the residential real estate. (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 maybe 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,OW 2012. (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