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Trend of Assessed Values <br />~~' <br />Assessment Year <br />March I <br />1987 <br />1986 <br />1.985 <br />1984 <br />1983 <br />1982 <br />198 I <br />1980 <br />Net <br />Assessed Value* <br />:~ <br />434,054,735 <br />429,698,477 <br />433,033,280 <br />407,023,834 <br />417,959,626 <br />419,048,640 <br />416,110,969 <br />406,763,605 <br />* The assessed values shown are net figures after subracttng the valuation of the <br />City's Urban Enterprise Zone and abated valuations. The assessed value of personas <br />property to the Urban Enterprise Zone totals $24,437,827 for 1987, and $23,940,420 <br />for 1986. This valuation is removed from the tax rolls for a period of ten years <br />beginning March 1, 1984. The Urban Enterprise Zone is part of a State program <br />which offers various State tax credits for businesses in targeted areas. Abatement <br />of real and personal property valuation reduces the taxable valuation of property by <br />decreasing amounts over a term of up to ten years in accordance with State law and <br />local ordinance. The total abated valuation (not included in the net assessed value <br />figure above) for reai and personas property in 1986 was $19,595,830. The total <br />abated valuation for 1987 is not yet availabie. The net assessed values for 1984 <br />through 1987 do not include tax incrementai assessed valuation. <br />-i 0- <br />