TITLE 63

REVENUE AND TAXATION

CHAPTER 16

PREPAYMENT OF TAXES

63-1602.  Petition for permission to prepay taxes. In order to minimize the impact on public facilities as a result of new business operations and to permit affected taxing districts to use prepaid ad valorem taxes for planning, construction, expansion, or operation of public facilities, any taxpayer seeking to prepay ad valorem taxes shall petition the board of county commissioners in the applicable county. The petition, in addition to such information as the taxpayer may choose to present, shall contain the following:

(a)  A statement that the taxpayer intends to engage or is engaged in new business operations and that such operations will have an impact on public facilities in the county;

(b)  A declaration that the taxpayer has or will have taxable property in the county and taxing districts during the term of the impact period, which shall not exceed ten (10) years;

(c)  A request that the taxpayer be allowed to prepay a portion, but not to exceed fifty percent (50%) of the estimated ad valorem taxes that will be due during the first one-half of the term of the impact period, which shall not exceed ten (10) years; and

(d)  A request that a local impact committee be organized.

History:

[63-1602, added 1980, ch. 226, sec. 1, p. 505.]