Recovered tax increment value means, except as otherwise
Recovered tax increment value means, except as otherwise provided in this paragraph, the amount of the current year's equalized assessed value, in the first year after a municipality terminates the designation of an area as a redevelopment project area previously established under the Tax Increment Allocation Development Act in the Illinois Municipal Code, previously established under the Industrial Jobs Recovery Law in the Illinois Municipal Code, previously established under the Economic Development Project Area Tax Increment Act of 1995, or previously established under the Economic Development Area Tax Increment Allocation Act, of each taxable lot, block, tract, or parcel of real property in the redevelopment project area over and above the initial equalized assessed value of each property in the redevelopment project area. For the taxes which are extended for the 1997 levy year, the recovered tax increment value for a non-home rule taxing district that first became subject to this Law for the 1995 levy year because a majority of its 1994 equalized assessed value was in an affected county or counties shall be increased if a municipality terminated the designation of an area in 1993 as a redevelopment project area previously established under the Tax Increment Allocation Development Act in the Illinois Municipal Code, previously established under the Industrial Jobs Recovery Law in the Illinois Municipal Code, or previously established under the Economic Development Area Tax Increment Allocation Act, by an amount equal to the 1994 equalized assessed value of each taxable lot, block, tract, or parcel of real property in the redevelopment project area over and above the initial equalized assessed value of each property in the redevelopment project area. In the first year after a municipality removes a taxable lot, block, tract, or parcel of real property from a redevelopment project area established under the Tax Increment Allocation Development Act in the Illinois Municipal Code, the Industrial Jobs Recovery Law in the Illinois Municipal Code, or the Economic Development Area Tax Increment Allocation Act, "recovered tax increment value" means the amount of the current year's equalized assessed value of each taxable lot, block, tract, or parcel of real property removed from the redevelopment project area over and above the initial equalized assessed value of that real property before removal from the redevelopment project area.
Recovered tax increment value means, except as
More Definitions of Recovered tax increment value
Recovered tax increment value means, except as otherwise provided in this paragraph, the amount of the current year's equalized assessed value, in the first year after a municipality terminates the designation of an area as a redevelopment project area previously established under the Tax Increment Allocation Redevelopment Development Act in the Illinois Municipal Code, previously established under the Industrial Jobs Recovery Law in the Illinois Municipal Code, previously established under the Economic Development Project Area Tax Increment Act of 1995, or previously established under the Economic Development Area Tax Increment Allocation Act, of each taxable lot, block, tract, or parcel of real property in the redevelopment project area over and above the initial equalized assessed value of each property in the
Recovered tax increment value means, except as otherwise provided in this para- graph, the amount of the current year’s equal- ized assessed value, in the first year after a
Recovered tax increment value means the amount of the
Recovered tax increment value means, except as otherwise provided in this paragraph, the amount of the current year's equalized assessed value, in the first year after a municipality terminates the designation of an area as a redevelopment project area previously established under the Tax Increment Allocation
Recovered tax increment value means, except as otherwise provided in this paragraph, the amount oE the current year's equalized assessed value, in the Eirst year aEter a municipality terminates the designation oE an area as a redevelopment project area previously established under the Tax Increment Allocation Development Act in the Illinois Municipal code, previously established under the Industrial Jobs Recovery Law in the Illinois Municipal code, or previously established under the Economic Development Area Tax Increment Allocation Act, oE each taxable lot, block, tract, or parcel oE real property in the redevelopment project area over and above the initial equalized assessed value oE each property in the redevelopment project area. For the taxes which are extended Eor the 1997 levy year, the recovered tax increment value Eor a non-home rule taxing district that Eirst became subject to this Law Eor the 1995 levy year because a majority oE its 1994 equalized assessed value was in an aEEected county or counties shall be increased iE a municipality terminated the designation oE an area in 1993 as a redevelopment project area previously established under the Tax Increment Allocation Development Act in the Illinois Municipal code, previously established under the Industrial Jobs Recovery Law in the Illinois Municipal code, or previously established under the Economic Development Area Tax Increment Allocation Act, by an amount equal to the 1994 equalized assessed value oE each taxable lot, block, tract, or parcel oE real property in the redevelopment project area over and above the initial equalized assessed value oE each property in the redevelopment project area. In the Eirst year aEter a municipality removes a taxable lot, block, tract, or parcel oE real property Erom a redevelopment project area established under the Tax Increment Allocation Development Act in the Illinois Municipal code, the Industrial Jobs Recovery Law in the Illinois Municipal code, or the Economic Development Area Tax Increment Allocation Act, "recovered tax increment value" means the amount oE the current year's equalized assessed value oE each taxable lot, block, tract, or parcel oE
Recovered tax increment value means, except as otherwise provided in this paragraph, the amount of the current year's equalized assessed value, in the first year after a municipality terminates the designation
Recovered tax increment value means, except as otherwise provided in this paragraph, the amount of the current year's equalized assessed value, in the first year after a municipality terminates the designation of an area as a redevelopment project area previously established under the Tax Increment Allocation Development Act in the Illinois Municipal Code, previously established under the Industrial Jobs