How is the assessed value of the property in the project development financing district determined each year?
Each year the county assessor determines the current assessed value of the property in the project development financing district. Increases in the current assessed value in nonrevaluation years result solely from improvements to property rather than appreciation in market value. Market value appreciation increases the current assessed value in revaluation years.
Related Questions
- How are the proceeds of a unit’s property tax assessed against property in a project development financing district distributed?
- How is the incremental value of the property in the project development financing district determined each year?
- What is the total cost per year for the district’s bonds on $100,000 assessed property value?