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1988- 06-14 Minutes
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1988- 06-14 Minutes
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7/24/2008 12:10:20 PM
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Trend of Assessed Values <br />Assessment Year Net <br />• <br />March I Assessed Value* <br />1987 434,054,735 <br />1986 429,698,477 <br />1985 433,033,280 <br />1984 407,023,834 <br />1983 417,959,626 <br />1982 419, 048, 640 <br />1981 416,110,969 <br />1980 406,763,605 <br />* The assessed values shown are net figures after subracting the valuation of the <br />City's Urban Enterprise Zone and abated valuations. The assessed value of personal <br />property in 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 real and .personal property in 1986 was $19,595,830. The total <br />abated valuation for 1987 is not yet available. The net assessed values for 1984 <br />through 1987 do not include tax incremental assessed valuation. <br />• <br />-I 0- <br />
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