Idaho State Statutes - Idaho Attorney Directory

NOTICE OF ADJUSTMENT TO MARKET VALUE FOR ASSESSMENT PURPOSES UPON
TERMINATION OF A REVENUE ALLOCATION AREA. (1) A school district that shall
adjust its market value for assessment purposes in accordance with the
provisions of section 33-802 2., Idaho Code, relating to termination of a
revenue allocation area, shall advertise its action by publishing in at least
the newspaper of largest paid circulation published in the county of the
district, or if there is no such newspaper, then in a newspaper published
nearest to the district where the advertisement is required to be published.
(2) For purposes of this section, the definition of "newspaper" shall be
as established in sections 60-106 and 60-107, Idaho Code; provided further,
that the newspaper of largest circulation shall be established by the
statement of average annual paid weekday circulation listed on the newspaper's
sworn statement of ownership that was filed with the United States post office
on a date most recently preceding the date on which the advertisement required
in this section is to be published. The advertisement shall be run when the
school district ascertains that it will adjust its market value for assessment
purposes in accordance with the provisions of section 33-802 2., Idaho Code,
relating to termination of a revenue allocation area, and shall be published
once a week for two (2) weeks following action by the board of trustees.
(3) The form and content of the notice shall be substantially as follows:

NOTICE OF PROPERTY TAX ADJUSTMENT BY SCHOOL BOARD

The (insert name of the school district) hereinafter the "District," has
increased its market value for assessment purposes as of December 31, ...., by
the amount of the increment value of the (insert name of Redevelopment Agency
Revenue Allocation Area) on such date, in accordance with the provisions of
Section 33-802, Idaho Code, because the revenue allocation area gave notice of
termination pursuant to Section 50-2903, Idaho Code, and as a result thereof
property taxes on the incremental value of the revenue allocation area will
not be collected and distributed to the District. Section 33-802, Idaho Code,
permits the District to replace those funds by adjusting its market value as
described herein. The total amount of dollars in property taxes to be directly
collected by the District pursuant to this action is estimated to be $......

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