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AGO Opinions with Topic: FACTORS
AGO 1966 No. 97 >  July 22, 1966
TAXATION - PROPERTY - APPLICATION OF CHAPTER 174, LAWS OF 1965, EX. SESS. - TAX LEVY RATE - CALCULATION - FACTORS
TAXATION ‑- PROPERTY ‑- APPLICATION OF CHAPTER 174, LAWS OF 1965, EX. SESS. ‑- TAX LEVY RATE ‑- CALCULATION ‑- FACTORS 1. The property tax levy rate referred to in § 2 (2) means the same actual millage rate as applied last year by that taxing district, rather than the effective rate upon the property of those taxes levied the preceding year. 2. In calculating the additional dollar amount in § 2 (2) allowed for the increase in assessed value resulting from new construction, revaluation, etc., the assessment level of the preceding year should be used rather than a current increased level. 3. When property passes into exempt ownership; has been destroyed; annexed to an adjoining district or loses value for any reason, such losses must be subtracted from any growth in assessed valuation (attributable to improvements, construction, revaluations, or annexations) before the increase (if any) to be used in computing the additional dollar amount for purposes of subsection (2), (§ 2, chapter 174, Laws of 1965, Ex. Sess.) can be known.  However, in the event that such losses exceed such growth the result will simply be that the district in question will have no subsection (2) additional dollar amount factor for this particular year; the dollar amount factors described in other subsections of § 2, chapter 174, Laws of 1965, Ex. Sess., would be unaffected by such a circumstance.
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