As used in this part:
(1)"Affordable housing" means housing offered for sale at 80% or less of the median county home price for housing of that type.
(2)"Agency" means the same as that term is defined in Section 17C-1-102.
(3)"Base taxable value" means a property's taxable value as shown upon the assessment roll last equalized during the base year.
(4)"Base year" means, for a proposed home ownership promotion zone area, a year beginning the first day of the calendar quarter determined by the last equalized tax roll before the adoption of the home ownership promotion zone.
(5)"Division" means the Housing and Community Development Division within the Department of Workforce Services.
(6)"Home ownership promotion zone" means a home ownership promotion zone created in accordance with thi
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As used in this part:
(1) "Affordable housing" means housing offered for sale at 80% or less of the median county home price for housing of that type.
(2) "Agency" means the same as that term is defined in Section 17C-1-102.
(3) "Base taxable value" means a property's taxable value as shown upon the assessment roll last equalized during the base year.
(4) "Base year" means, for a proposed home ownership promotion zone area, a year beginning the first day of the calendar quarter determined by the last equalized tax roll before the adoption of the home ownership promotion zone.
(5) "Division" means the Housing and Community Development Division within the Department of Workforce Services.
(6) "Home ownership promotion zone" means a home ownership promotion zone created in accordance with this part.
(7) "Implementation plan" means the implementation plan adopted as part of the moderate income housing element of a specified county's general plan.
(8) "Initial report" means the one-time moderate income housing report described in Subsection 17-80-202(1).
(9) "Internal accessory dwelling unit" means an accessory dwelling unit created:
(9)(a) within a primary dwelling;
(9)(b) within the footprint of the detached primary dwelling at the time the internal accessory dwelling unit is created; and
(9)(c) for the purpose of offering a long-term rental of 30 consecutive days or longer.
(10) "Moderate income housing strategy" means a strategy described in Section 17-80-201.
(11) "Participant" means the same as that term is defined in Section 17C-1-102.
(12) "Participation agreement" means the same as that term is defined in Section 17C-1-102.
(13) (13)(a) "Primary dwelling" means a single-family dwelling that:
(13)(a)(i) is detached; and
(13)(a)(ii) is occupied as the primary residence of the owner of record.
(13)(b) "Primary dwelling" includes a garage if the garage:
(13)(b)(i) is a habitable space; and
(13)(b)(ii) is connected to the primary dwelling by a common wall.
(14) "Project improvements" means the same as that term is defined in Section 11-36a-102.
(15) "Report" means an initial report or a subsequent report described in Section 17-80-202.
(16) "Specified county" means a county of the first, second, or third class, which has a population of more than 5,000 in the county's unincorporated areas.
(17) "Subsequent progress report" means the annual moderate income housing report described in Section 17-80-202.
(18) "System improvements" means the same as that term is defined in Section 11-36a-102.
(19) "Tax commission" means the State Tax Commission created in Section 59-1-201.
(20) (20)(a) "Tax increment" means the difference between:
(20)(a)(i) the amount of property tax revenue generated each tax year by a taxing entity from the area within a home ownership promotion zone, using the current assessed value and each taxing entity's current certified tax rate as defined in Section 59-2-924; and
(20)(a)(ii) the amount of property tax revenue that would be generated from that same area using the base taxable value and each taxing entity's current certified tax rate as defined in Section 59-2-924.
(20)(b) "Tax increment" does not include property revenue from:
(20)(b)(i) a multicounty assessing and collecting levy described in Subsection 59-2-1602(2); or
(20)(b)(ii) a county additional property tax described in Subsection 59-2-1602(4).
(21) "Taxing entity" means the same as that term is defined in Section 17C-1-102.