17C-1-414 - Project area boundaries that divide a tax parcel -- Deletion of parcel from tax increment calculation.
17C-1-414. Project area boundaries that divide a tax parcel -- Deletion of parcelfrom tax increment calculation.
(1) If the boundaries of a project area, as described in the project area plan, include partof a tax parcel and exclude part of the same tax parcel, the agency shall provide the assessor ofthe county in which the project area is located a metes and bounds description of the part of thetax parcel included within the project area boundaries.
(2) If an agency fails to comply with the requirement of Subsection (1), the assessor ofthe county in which the tax parcel is located may exclude that parcel from the project area forpurposes of calculating tax increment to be paid to the agency until the agency complies with therequirement of Subsection (1).
Enacted by Chapter 359, 2006 General Session