Cities and towns rely on the unique relationship with theft constituents and expect payment on ad valorem taxes
in exchange for services in cities and towns.
to compel by judicial action the levy of ad valorem taxation." (10) In a tax-increment financing transaction, the court held that the only obligation of the local government "is to appropriate a sum equal to any tax increment generated in a particular year from the ordinary, general levy of ad valorem taxes
otherwise made in the city and county that year." (11) Miami Beach, following the brightline principle, validated the issuance of tax-increment financing bonds by a community redevelopment agency without requiring a referendum.
This result contrasts markedly with efficiency comparisons of specific and ad valorem taxes
as revenue instruments.
The Town Hall's other top priorities included the idea that there should be a tax on services, but that a judicious approach is required, and authorizing a diverse tax base using ad valorem taxes
, millages, implementation of Public Safety Districts, and the strategic use of taxes on services in a broad multi-prong approach to fund municipal governmental services.
The LTGO bonds are general obligations of the district payable from ad valorem taxes
levied on all taxable property within the boundaries of the district, without limitation as to rate but limited as to amount by provisions of the statewide Limitation Law.
The series 2010 bonds are secured by the district's full faith and credit GO pledge, and are payable from unlimited ad valorem taxes
. The district will use the bond proceeds to prepay a state trust fund loan.
The self-financing concept may be summarized as follows: (1) the TIF district undertakes the redevelopment project; (2) the redevelopment project increases the assessed value of the taxable property within the TIF district; (3) the increase in the taxable property value results in an increase in the amount of ad valorem taxes
collected within the TIF district; and (4) this increase in ad valorem taxes
, or "tax increment," is pledged to finance the redevelopment project.
George Gekas (R-Penn.), contained the Investment in Education Act, secured the local statutory rate for unpaid ad valorem taxes
, limited payment plans for ad valorem taxed to six years, and clarified notice to government provisions.
An example of this disparity occurred in 1997, when the Tampa Port Authority was assessed for ad valorem taxes
but the Port of St.
Consequently, the Ramsey rule applies to both demand and supply ad valorem taxes
: that is, it is valid for an ad valorem tax be it levied on suppliers or consumers.(3) However, for a unit tax on the demand price, i.e., [P.sub.G] - [P.sub.N] = u, the inverse elasticity rule does not have its convenient forms.
Like all state questions, it requires a simple majority by voters to be approved.<br />Lawmakers this year approved Senate Joint Resolution 70, which sends to a vote of the people an amendment to the state constitution that would allow ad valorem taxes
collected for a school building fund to be used for expenses associated with the general operations of a school district.