The service charge in lieu of taxes as determined under the subchapter shall be payable in the same manner as general property taxes are payable to the city except that the annual payment shall be paid on or before July 1 of each year. The amounts collected pursuant to this subchapter shall be distributed to the several units having the general property tax in the same proportion as prevailed with the general property tax in the previous calendar year so long as the property subject to this subchapter shall not be affected by a tax increment financing plan.
(Prior Code, § 13-93) (Ord. 86-2A1, passed 6-19-1986)