TITLE 33

EDUCATION

CHAPTER 8

BUDGET AND TAX LEVY

33-808.  Notice of adjustment to market value for assessment purposes upon termination of a revenue allocation area. (1) A charter district with a maintenance and operation levy in the immediately previous year that shall adjust its market value for assessment purposes in accordance with the provisions of section 33-802(6), 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(6), 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 increment 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 $…….

History:

[33-808, added 2005, ch. 191, sec. 2, p. 592; am. 2006, 1st Ex. Sess., ch. 1, sec. 5, p. 45.]