Laserfiche WebLink
F. A - &I <br />If the fiscal year beginning <br />7/1 in which commercial Then for as long as the Parcel on which such <br />square footage fhst becomes commercial square feet is located is a Taxable Parcel. such <br />subject to taxation is: commercial square feet shall thereafter be taxed at: <br />1999 $0.232 per square foot <br />2000 $0.244 per square foot <br />2001 $0.258 per square foot <br />2002 $0.272 per square foot <br />2003 $0.287 per square foot <br />2004 $0.303 per square foot <br />2005 $0.319 — per square foot <br />2006 $0.337 per square foot <br />2007 $0.355 per square foot <br />2008 $0.375 per square foot <br />2009 $0.395 per square foot <br />2010 $0.417 per square foot <br />2011 $0.440 per square foot <br />2012 $0.464 per square foot <br />2013 $0.490 per square foot <br />Thereafter $0.490 per square foot <br />Inactive Parcels, Prepaid Parcels and Tax - Exempt Parcels shall not be subject to <br />the levy of Special Taxes. <br />Section 6. Apportionment, Levy and Selection of Special Tax Rates <br />" A Special Tax rate per Developed Commercial Square Foot or Approved <br />Commercial Square Foot allocable to each Taxable Parcel in the CFD shall be established <br />annually by the City Council. The Special Tax rate or rates per Developed Commercial <br />Square Foot or Approved Commercial Square Foot allocable to each Taxable Parcel shall <br />then be multiplied by the Developed Commercial Square Feet or Approved Commercial <br />Square Feet on each such Taxable Parcel to determine the Special Tax applicable to each <br />such Taxable Parcel. <br />Prior to July 1 of each Fiscal Year for which Annual Costs are payable, the <br />Special Tax rate per Developed Commercial Square Foot or Approved Commercial <br />Square Foot allocable to each Taxable Parcel in the CFD shall be established as follows: <br />Step 1 The total Annual Costs for such Fiscal Year shall be projected. <br />Step 2 The sum of unexpended fund balances (including amounts collected in the <br />prior Fiscal Year to be applied to Debt Service in such Fiscal Year) held <br />under the fiscal agent agreement securing outstanding Bonds that is <br />available to pay Debt Service in such Fiscal Year shall be determined. <br />Step 3 The amount of Debt Service due in such Fiscal Year payable from Annual <br />Tax Revenues collected in the prior Fiscal Year shall be determined. <br />Step 4 The amounts calculated in steps 1 and 3 above shall be added together <br />and the amount determined in step 2 above shall be subtracted from such <br />sum to arrive at the Annual Tax Revenues to be collected in such Fiscal <br />Year. <br />B -5 <br />