Provides for a temporary exemption to limitations upon school district tax levies to school districts who experience a loss of a payment in lieu of taxes agreement due to the closure of a nuclear power plant.
Same As
Provides for a temporary exemption to limitations upon school district tax levies to school districts who experience a loss of a payment in lieu of taxes agreement due to the closure of a nuclear power plant.
Relates to payments in lieu of taxes; provides that the tax base growth factor or quantity change factor includes the change in assessed value for each property on the exempt side of the tax rolls under a payment in lieu of tax agreement; allows a local government or school district to elect to include the equivalent taxable value of property subject to a payment in lieu of taxes agreement in the calculation of its quantity change factor.
Relates to payments in lieu of taxes; provides that the tax base growth factor or quantity change factor includes the change in assessed value for each property on the exempt side of the tax rolls under a payment in lieu of tax agreement; allows a local government or school district to elect to include the equivalent taxable value of property subject to a payment in lieu of taxes agreement in the calculation of its quantity change factor.
Requires municipalities to share certain payments in lieu of property taxes with school districts; informs counties, school districts, and DCA of certain information related to property tax exemptions and abatements.
Requires municipalities to share certain payments received in lieu of property taxes with school districts; informs counties and school districts of application for property tax exemption.
Requires municipal tax collectors who obtain payments in lieu of taxes under "Long Term Tax Exemption Law" to share portion of that revenue with school district or districts.