The ad valorem increment shall be the portion of ad valorem taxes collected on taxable property within the Increment District attributed to the valuation of such property, in aggregate, that is in excess of the base assessed value of taxable property within the Increment District. The base assessed value of taxable property within the Increment District shall be determined by the County Assessor within 90 days of the date the ordinance from which this article is derived is adopted.
(Ord. 2021-002, passed 8-16-2021)