Idaho State Statutes - Idaho Attorney Directory

(1) For
purposes of calculating the rate at which taxes shall be levied by or for each
taxing district in which a revenue allocation area is located, the county
commissioners shall, with respect to the taxable property located in such
revenue allocation area, use the equalized assessed value of such taxable
property as shown on the base assessment roll rather than on the current
equalized assessed valuation of such taxable property.
(2) With respect to each such taxing district, the tax rate calculated
under subsection (1) of this section shall be applied to the current equalized
assessed valuation of all taxable property in the taxing district, including
the taxable property in the revenue allocation area. The tax revenues thereby
produced shall be allocated as follows:
(a) To the taxing district shall be allocated and shall be paid by the
county treasurer:
(i) All taxes levied by the taxing district or on its behalf on
taxable property located within the taxing district but outside the
revenue allocation area;
(ii) A portion of the taxes levied by the taxing district or on its
behalf on the taxable property located within the revenue allocation
area, which portion is the amount produced by applying the taxing
district's tax rate determined under subsection (1) of this section
to the equalized assessed valuation, as shown on the base assessment
roll, of the taxable property located within the revenue allocation
area; and
(iii) If such taxing district is a school district, a further portion
of the taxes levied by such district or on its behalf on the taxable
property located within the revenue allocation area, which portion is
the amount equal to the percentage specified in section
33-1002(7)(a), Idaho Code, multiplied by the difference between the
current equalized assessed valuation of such taxable property and the
equalized assessed valuation of such taxable property as shown on the
base assessment roll.
(b) To the urban renewal agency shall be allocated the balance, if any,
of the taxes levied on the taxable property located within the revenue
allocation area.
(3) Upon enactment of an ordinance adopting a revenue allocation
financing provision as part of an urban renewal plan, the urban renewal agency
shall create a special fund or funds to be used for the purposes enumerated in
this chapter. The revenues allocated to the urban renewal agency pursuant to
this chapter, shall be paid to the agency by the treasurer of the county in
which the revenue allocation district is located and shall be deposited by the
agency into one or more of such special funds. The agency may, in addition,
deposit into such special fund or funds such other income, proceeds, revenues
and funds it may receive from sources other than the revenues allocated to it
under subsection (2)(b) of this section.
(4) For the purposes of section 63-803, Idaho Code, during the period
when revenue allocation under this chapter is in effect, and solely with
respect to any taxing district in which a revenue allocation area is located,
the county commissioners shall, in fixing any tax levy, take into
consideration the equalized assessed valuation of the taxable property
situated in the revenue allocation area as shown in the base assessment roll,
rather than the current equalized assessed value of such taxable property.
(5) For all other purposes, including, without limitation, for purposes
of sections 33-802, 33-1002 and 63-1313, Idaho Code, reference in the Idaho
Code to the term "market value for assessment purposes" (or any other such
similar term) shall mean market value for assessment purposes as defined in
section 63-208, Idaho Code.

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