Original Assessed Value (OAV) definition
Original Assessed Value (OAV) means the assessed value of the property in the TIF District as of March 31 of the year that it was created. For instance, if a TIF District was approved as of the date of this report, or November 2017, the OAV would be the assessed value of the property on March 31, 2017. All taxes from the OAV go into the City’s General Fund for any City use.
Original Assessed Value (OAV) means the assessed value of the property in the TIF District as of March 31 of the year that it was created. For instance, if a TIF District was approved as of the date of this report, or December 10, 2014, the OAV would be the assessed value of the property on March 31, 2014.