Examples of Base Valuation in a sentence
Determination of incremental valuation; use of taxes levied on incremental valuation; duration of the district.(a) Base Valuation in the Development Financing District.
The Base Valuation shall be the assessed value of the Property for Fiscal Year 2021 in the amount of $1,444,200.
After determining the base valuation of the development financing district, the tax assessor shall certify the valuation to: (i) the issuing unit; (ii) the county in which the district is located if the issuing unit is not the county; and (iii) any special district, as defined in G.S. 159-7, within which the development financing district is located.(b) Adjustments to the Base Valuation.
The Base Valuation shall be adjusted annually by an adjustment factor, which reflects the increased values within the community, as provided in Chapter 40, Section 59 of the Massachusetts General Laws.
Base Valuation Revenues – means the revenues produced by the base valuation for taxable property and municipal sales and use taxes as provided in Section 7.0 of this Plan.