244.45.4. Where the municipality avails itself of the power under section 253.27 in respect of its property assessment roll, the operations described in the second and third paragraphs are performed to calculate an adjusted coefficient, by which the rate specific to the category of non-residential immovables is multiplied, to establish the maximum rate specific to the category of industrial immovables for either of the first two fiscal years for which the roll applies.
The first operation in relation to the calculation of the adjusted coefficient consists in subtracting the second of the following coefficients from the first:
(1) the coefficient from which the other coefficient is subtracted is the coefficient that is calculated pursuant to section 244.44 for the fiscal year for which the maximum specific rate is established; and
(2) the coefficient that is subtracted from the other coefficient is the coefficient that is applicable for the last fiscal year for which the property assessment roll of the municipality in force immediately before the roll referred to in the first paragraph applied.
The second operation consists in algebraically adding the coefficient described in subparagraph 2 of the second paragraph and the number that is one-third or two-thirds, according to whether the fiscal year for which the maximum specific rate is established is the first or the second fiscal year to which the roll referred to in the first paragraph applies, of the difference resulting from the subtraction under the second paragraph.
Where the property assessment roll in respect of which the municipality avails itself of the power under section 253.27 applies to two fiscal years only, an adjusted coefficient is calculated only for the first of those fiscal years. For that purpose, for the application of the third paragraph, one-half, rather than one-third or two-thirds, of the difference resulting from the subtraction under the second paragraph shall be taken into account.