TEA formula definition

TEA formula means the Tax Equity Allocation formula, and shall be calculated by the auditor for each qualifying city as follows:

Examples of TEA formula in a sentence

  • Finding No. 1 noted that the county had used an incorrect tax base property tax amount to calculate the TEA formula adjustment because it had failed to take into account the City RDA.

  • To begin with, as the trial court found, Finding No. 1 in the March 1997 SCO Audit Report did no morethan direct the County to “recompute the TEA formula adjustments to conform with the Revenue and Taxation Code.” As we have discussed, the “TEA formula” means the six- step formula set forth in the TEA statute.

Related to TEA formula

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