Virginia Code 58.1-3245.3: Copies of tax increment financing ordinance to local assessing officer and treasurer or director of finance.
Current as of: 2024 | Check for updates
|
Other versions
The governing body shall transmit to the local assessing officer and treasurer or director of finance a copy of the tax increment financing ordinance, a description of all real estate located within the development project area, a map indicating the boundaries of the development project area and the manner of collecting and allocating real estate taxes pursuant to this article.
Terms Used In Virginia Code 58.1-3245.3
- Development project area: means any area designated for development or redevelopment, including any area designated for a dredging project other than a dredging project for or by the Virginia Port Authority, unless the Virginia Port Authority has an agreement with a local governing body for local financial participation in such a project, in an ordinance passed by the local governing body. See Virginia Code 58.1-3245
- Governing body: means the board of supervisors, council or other legislative body of any county, city or town. See Virginia Code 58.1-3245
- real estate: includes lands, tenements and hereditaments, and all rights and appurtenances thereto and interests therein, other than a chattel interest. See Virginia Code 1-219
- Tax increment: means the amount by which the current assessed value of real estate exceeds the base assessed value. See Virginia Code 58.1-3245
1988, c. 776.