1232.12 PARK DEVELOPMENT TAX.

(a) Amount of Development Tax. In addition to all other requirements, a subdivider, developer or builder shall be required to pay a park development tax in an amount equal to two times the fair market value of the land to be dedicated as described in Section 1232.08 .

(b) Determination of Fair Market Value. Fair market value shall be determined as described in Section 1232.09 .

(c) Credit for Voluntary Dedication. If a subdivider or developer dedicates land in addition to the amount required in Section 1232.08 , the Planning Commission may grant credit to the developer or subdivider against the amount of the park development tax. The credit granted shall be no greater than one-third of the fair market value of the additional land to be dedicated.
(Ord. 29-79. Passed 3-12-79; Ord. 20-80. Passed 1-28-80.)

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