Base assessed value definition

Base assessed value means the taxable assessed value of all real and tangible personal

Base assessed value means the taxable assessed value of all real and tangible personal property, excluding personal motor vehicles, having a tax situs within a development or redevelopment district as shown upon the landbooks and personal property books of the assessor on July 1 of the calendar year preceding the effective date of the order or ordinance creating and establishing the development or redevelopment district: Provided, That for any development or redevelopment district approved after the effective date of the amendments to this section enacted during the regular session of the Legislature in 2014, personal trailers, personal boats, personal campers, personal motor homes, personal ATVs and personal motorcycles having a tax situs within a development or redevelopment district are excluded from the base assessed value.

Base assessed value means the following:

Examples of Base assessed value in a sentence

• The “allocation area” is also known as the TIF district with the boundaries specified in the declaratory resolutions.• "Base assessed value" generally means the net assessed value of the allocation area at the time the allocation area is established.

• The following is a summary of the amount of taxes to be paid to the city for the ten- year term of the TIF, which will commence on July 1, 2021:Year 1 – Year 5: Base assessed value plus 60% of the incremental value; Year 6 – Year 10: Base assessed value plus 65% of the incremental value;WHEREAS: The TIF schedule will be in effect for a period of ten years beginning July 1, 2021 and in anticipation of an increase in value to the subject parcel as determined by the City of Worcester Assessing Division.

• The “allocation area” is also known as the TIF district with the boundaries specified in the declaratory resolutions.• "Base assessed value" generally means the assessed value of the allocation area at the time the allocation area is established.

• With the increased frozen base, the Frozen Base assessed value as a percent of City assessed value is estimated to be 0.8%, still well below the 15% statutory limitation.

• The following is a summary of the amount of taxes to be paid to the city for the twenty-year term of the TIF, which will commence on July 1, 2021:Year 1 – Year 20: Base assessed value plus 80% of the incremental value; WHEREAS: The TIF schedule will be in effect for a period of twenty years beginning July 1, 2021 and in anticipation of an increase in value to the subject parcel as determined by the City of Worcester Assessing Division.

More Definitions of Base assessed value

Base assessed value means the assessed value of real estate or machinery and tools within a local

Base assessed value means the assessed value of real estate within a development project area as

Base assessed value means the assessed value of real estate within a development project area as shown upon the land book records of the local assessing officer on January 1 of the year preceding the effective date of the ordinance creating the development project area.

Base assessed value means the assessed value of real estate within the Development Project Area as shown upon the land book records of the Fredericksburg Commissioner of Revenue on July 1, 2017.

Base assessed value means the assessed value in a TIF District that will continue to flow to underlying taxing units by virtue of having arisen before the creation of the TIF District.

Base assessed value means the taxable assessed value of

Base assessed value generally means the net assessed value of the allocation area at the time the allocation area is established. However, it depends when the allocation area was created and can vary with reassessment and trending.