§ 33:7610.1 — Increment revenues

Louisiana § 33:7610.1

• Jurisdiction: Louisiana
• Title 33: Municipalities and Parishes

Text

(1) For purposes of this Chapter, the increment revenues of each taxing district shall be an amount equal to the increment in the income proceeds, revenues, and funds of such taxing district derived from or held in connection with the undertaking and carrying out of the new community development under this Chapter.
(2) Such increment revenues shall be determined annually and shall be an amount equal to ninety-five percent of the difference between:
(a) The amount of ad valorem taxes levied each year by such taxing district, exclusive of any debt service millage, on taxable real property contained within the geographic boundaries of a new community development area; and
(b) The amount of ad valorem taxes which would have been produced by the rate at which the tax is levied each year by or for such taxing district, exclusive of any debt service millage, upon the total of the assessed value of the taxable real property in the new community development area as shown upon the most recent assessment roll used in connection with the taxation of such property by each taxing district prior to the effective date of the ordinance providing for the funding of the trust fund.

Legislative History

Acts 1987, No. 815, §1, eff. July 20, 1987.