19- 100 C.M.R. ch. 2, § 6

Current through 2024-51, December 18, 2024

Section 100-2-6 - CALCULATION OF A MILL'S VALUATION ELIGIBLE TO RECEIVE PULP AND PAPER TAX INCREMENT FINANCING

A. DETERMINATION OF INCREASES FROM ORIGINAL ASSESSED VALUE

Each year upon the anniversary of the formation of a pulp and paper tax increment financing district, the municipal assessor shall certify the amount by which the assessed value of property within the development district has increased from the original assessed value.

B. DETERMINATION OF ADJUSTMENTS TO INCREASES IN CAPTURED ASSESSED VALUE

Adjustments to annually determined increases in captured assessed values within a development district are governed by 30-A M.R.S.A. §5265(2). That subsection is intended to inhibit relocation of property from outside a development district into a development district in order to capture its assessed value.

19- 100 C.M.R. ch. 2, § 6