58-509. Property taxes; how treated.
In each year after the determination of a redevelopment project valuation as outlined in section 58-508, the county assessor and the county board of equalization of each affected county shall include no more than the redevelopment project valuation of the taxable real property and taxable personal property in the redevelopment project in the assessed valuation upon which is computed the rates of all taxes levied by any taxing body on such project. In each year for which the current assessed valuation on taxable real property and taxable personal property in the redevelopment project exceeds the redevelopment project valuation, the county treasurer shall remit to the contracting public body, instead of to any taxing body, that proportion of all property taxes on real property and personal property paid that year on the redevelopment project which such excess valuation bears to the current assessed valuation.
Source
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
