The city council shall be considered the “local review board” for purposes of RCW 84.26.020. In the event a building, structure or site receives a historical designation under this chapter, the owner of such building, structure or site may seek to have the property’s assessed value adjusted in compliance with all provisions of Chapter 84.26 RCW. All costs associated with processing a request for special assessed valuation through the local review board shall be borne by the applicant. (Ord. 05C-09 § 1; Ord. 02-16 § 1).