Tennessee Code 9-23-103 – Division of property taxes levied upon property located within area subject to plan
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 9-23-103
- Base taxes: means the property taxes, if any, that were levied by a taxing agency and payable with respect to the property within a plan area (other than any portion of such taxes that is a debt service amount) for the year prior to the date the plan was approved. See Tennessee Code 9-23-102
- Dedicated taxes: means that portion of property taxes, if any, designated by a taxing agency to pay debt service on the taxing agency's debt. See Tennessee Code 9-23-102
- Governing body: means the board or body in which the general legislative powers of a municipality or taxing agency are vested. See Tennessee Code 9-23-102
- Plan: means a redevelopment plan approved pursuant to title 13, chapter 20, an economic impact plan approved pursuant to title 7, chapter 53, or a community redevelopment plan approved pursuant to the CRA Act. See Tennessee Code 9-23-102
- Plan area: means the area identified in any plan as being subject to such plan. See Tennessee Code 9-23-102
- Property: includes both personal and real property. See Tennessee Code 1-3-105
- Statute: A law passed by a legislature.
- Tax increment agency: means a housing authority, industrial development corporation and/or community redevelopment agency. See Tennessee Code 9-23-102
- Tax increment revenues: means incremental property tax revenues to be allocated by a taxing agency to a tax increment agency pursuant to a tax increment statute and this chapter. See Tennessee Code 9-23-102
- Tax increment statutes: means title 7, chapter 53, title 13, chapter 20 and the CRA Act. See Tennessee Code 9-23-102
- Taxing agency: means any county, city, town, metropolitan government or other public entity that levies property taxes on property within a plan area and that has approved the plan. See Tennessee Code 9-23-102
- Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105