12-1775.Taxing subdivision and real property taxes
defined;
assessment and distribution of taxes; pledge of proceeds of bonds.
(a) Except for redevelopment projects satisfying the
conditions of
subsection (c) of K.S.A.
12-1771b, and amendments thereto, all tangible
taxable property
located within a
redevelopment district
shall be assessed and taxed for ad valorem tax purposes
pursuant to law in the same manner that such property would be assessed
and taxed if located outside such district, and all ad valorem taxes levied
on such property shall be paid to and collected by the county treasurer
in the same manner as other taxes are paid and collected. Except as
otherwise provided in this section, the county treasurer shall
distribute such taxes as may be collected in the same manner as if such
property were located outside a redevelopment district. Each redevelopment
district established under the provisions of this act shall
constitute a separate
taxing unit for the purpose of the computation and levy of taxes.
(b) Except for redevelopment projects satisfying the
conditions of
subsection (c) of K.S.A. 12-1771b, and amendments
thereto, beginning
with the first payment of taxes which are levied
following the date of
the establishment of the redevelopment
district real property taxes received
by
the county treasurer resulting from taxes which are levied subject to the
provisions of this act by and for the benefit
of a taxing subdivision, as defined in K.S.A.
12-1770a, on property located within
such redevelopment district constituting a separate taxing
unit under the provisions
of this section, shall be divided as follows:
(1) From the taxes levied each year subject to the provisions of this
act by or for each of the taxing
subdivisions upon property located within a redevelopment
district constituting
a separate taxing unit under the provisions of this act, the county treasurer
first shall allocate and pay to each
such taxing subdivision all of the real property taxes collected which
are produced from the base year assessed valuation.
(2) Any real property taxes produced from that portion of the
current assessed valuation of real property within the redevelopment district
constituting a separate taxing unit under the provisions of this section in
excess of
the base year assessed valuation
shall be allocated and paid by
the county treasurer to the treasurer of the city and deposited in a special
fund of the city to pay the
redevelopment project costs including the
payment of principal
of and interest on any special obligation bonds or full faith and credit
tax increment bonds issued by such city to
finance, in whole or in part, such redevelopment project.
When the redevelopment project costs have been paid and such obligation
bonds and interest thereon have been paid, all moneys
thereafter received from real property taxes within such redevelopment district
shall be allocated and
paid to the respective taxing subdivisions in the same manner as are
other ad valorem taxes. If such obligation bonds and interest thereon
have been paid before the completion of a project, the city may continue to
use such moneys for any purpose authorized by this act until such time as the
project is completed, but for not to exceed 20 years from the date
of the approval of the
project plan, except as otherwise provided by this act.
(c) In any project plan or in
the proceedings for
the
issuing
of any special obligation bonds or full faith and credit tax increment
bonds by the city to finance a redevelopment
project, the property tax increment portion of taxes provided for in paragraph
(2) of
subsection (c) may be irrevocably pledged for the
payment of the principal of and interest on such obligation
bonds, subject to the provisions of subsection (c) of K.S.A.
12-1774, and amendments thereto.
(d) A city may adopt a project plan in
which
only a specified
percentage or amount of
the tax increment realized from taxpayers in the redevelopment district are
pledged to the redevelopment project. The county treasurer shall allocate the
specified percentage or amount of the tax increment to the treasurer of
the city for
deposit in the special fund of the city to finance the redevelopment project
costs if the city has other available
revenues and pledges the revenues to
the redevelopment project in lieu of the tax increment. Any portion of such
tax increment not allocated to the city for the redevelopment project shall be
allocated and paid in the same manner as other ad valorem taxes.
History: L. 1976, ch. 69, § 6; L. 1979, ch. 52, § 6; L.
1984,
ch. 74, § 6;
L. 1988, ch. 78, § 6;
L. 1996, ch. 228, § 6; L. 1998, ch. 17, § 4;
L. 1998, ch. 169, § 2;
L. 2001, ch. 103, § 11; April 26.
12-1775.Taxing subdivision and real property taxes
defined;
assessment and distribution of taxes; pledge of proceeds of bonds.
(a) Except for redevelopment projects satisfying the
conditions of
subsection (c) of K.S.A.
12-1771b, and amendments thereto, all tangible
taxable property
located within a
redevelopment district
shall be assessed and taxed for ad valorem tax purposes
pursuant to law in the same manner that such property would be assessed
and taxed if located outside such district, and all ad valorem taxes levied
on such property shall be paid to and collected by the county treasurer
in the same manner as other taxes are paid and collected. Except as
otherwise provided in this section, the county treasurer shall
distribute such taxes as may be collected in the same manner as if such
property were located outside a redevelopment district. Each redevelopment
district established under the provisions of this act shall
constitute a separate
taxing unit for the purpose of the computation and levy of taxes.
(b) Except for redevelopment projects satisfying the
conditions of
subsection (c) of K.S.A. 12-1771b, and amendments
thereto, beginning
with the first payment of taxes which are levied
following the date of
the establishment of the redevelopment
district real property taxes received
by
the county treasurer resulting from taxes which are levied subject to the
provisions of this act by and for the benefit
of a taxing subdivision, as defined in K.S.A.
12-1770a, on property located within
such redevelopment district constituting a separate taxing
unit under the provisions
of this section, shall be divided as follows:
(1) From the taxes levied each year subject to the provisions of this
act by or for each of the taxing
subdivisions upon property located within a redevelopment
district constituting
a separate taxing unit under the provisions of this act, the county treasurer
first shall allocate and pay to each
such taxing subdivision all of the real property taxes collected which
are produced from the base year assessed valuation.
(2) Any real property taxes produced from that portion of the
current assessed valuation of real property within the redevelopment district
constituting a separate taxing unit under the provisions of this section in
excess of
the base year assessed valuation
shall be allocated and paid by
the county treasurer to the treasurer of the city and deposited in a special
fund of the city to pay the
redevelopment project costs including the
payment of principal
of and interest on any special obligation bonds or full faith and credit
tax increment bonds issued by such city to
finance, in whole or in part, such redevelopment project.
When the redevelopment project costs have been paid and such obligation
bonds and interest thereon have been paid, all moneys
thereafter received from real property taxes within such redevelopment district
shall be allocated and
paid to the respective taxing subdivisions in the same manner as are
other ad valorem taxes. If such obligation bonds and interest thereon
have been paid before the completion of a project, the city may continue to
use such moneys for any purpose authorized by this act until such time as the
project is completed, but for not to exceed 20 years from the date
of the approval of the
project plan, except as otherwise provided by this act.
(c) In any project plan or in
the proceedings for
the
issuing
of any special obligation bonds or full faith and credit tax increment
bonds by the city to finance a redevelopment
project, the property tax increment portion of taxes provided for in paragraph
(2) of
subsection (c) may be irrevocably pledged for the
payment of the principal of and interest on such obligation
bonds, subject to the provisions of subsection (c) of K.S.A.
12-1774, and amendments thereto.
(d) A city may adopt a project plan in
which
only a specified
percentage or amount of
the tax increment realized from taxpayers in the redevelopment district are
pledged to the redevelopment project. The county treasurer shall allocate the
specified percentage or amount of the tax increment to the treasurer of
the city for
deposit in the special fund of the city to finance the redevelopment project
costs if the city has other available
revenues and pledges the revenues to
the redevelopment project in lieu of the tax increment. Any portion of such
tax increment not allocated to the city for the redevelopment project shall be
allocated and paid in the same manner as other ad valorem taxes.
History: L. 1976, ch. 69, § 6; L. 1979, ch. 52, § 6; L.
1984,
ch. 74, § 6;
L. 1988, ch. 78, § 6;
L. 1996, ch. 228, § 6; L. 1998, ch. 17, § 4;
L. 1998, ch. 169, § 2;
L. 2001, ch. 103, § 11; April 26.
12-1775.Taxing subdivision and real property taxes
defined;
assessment and distribution of taxes; pledge of proceeds of bonds.
(a) Except for redevelopment projects satisfying the
conditions of
subsection (c) of K.S.A.
12-1771b, and amendments thereto, all tangible
taxable property
located within a
redevelopment district
shall be assessed and taxed for ad valorem tax purposes
pursuant to law in the same manner that such property would be assessed
and taxed if located outside such district, and all ad valorem taxes levied
on such property shall be paid to and collected by the county treasurer
in the same manner as other taxes are paid and collected. Except as
otherwise provided in this section, the county treasurer shall
distribute such taxes as may be collected in the same manner as if such
property were located outside a redevelopment district. Each redevelopment
district established under the provisions of this act shall
constitute a separate
taxing unit for the purpose of the computation and levy of taxes.
(b) Except for redevelopment projects satisfying the
conditions of
subsection (c) of K.S.A. 12-1771b, and amendments
thereto, beginning
with the first payment of taxes which are levied
following the date of
the establishment of the redevelopment
district real property taxes received
by
the county treasurer resulting from taxes which are levied subject to the
provisions of this act by and for the benefit
of a taxing subdivision, as defined in K.S.A.
12-1770a, on property located within
such redevelopment district constituting a separate taxing
unit under the provisions
of this section, shall be divided as follows:
(1) From the taxes levied each year subject to the provisions of this
act by or for each of the taxing
subdivisions upon property located within a redevelopment
district constituting
a separate taxing unit under the provisions of this act, the county treasurer
first shall allocate and pay to each
such taxing subdivision all of the real property taxes collected which
are produced from the base year assessed valuation.
(2) Any real property taxes produced from that portion of the
current assessed valuation of real property within the redevelopment district
constituting a separate taxing unit under the provisions of this section in
excess of
the base year assessed valuation
shall be allocated and paid by
the county treasurer to the treasurer of the city and deposited in a special
fund of the city to pay the
redevelopment project costs including the
payment of principal
of and interest on any special obligation bonds or full faith and credit
tax increment bonds issued by such city to
finance, in whole or in part, such redevelopment project.
When the redevelopment project costs have been paid and such obligation
bonds and interest thereon have been paid, all moneys
thereafter received from real property taxes within such redevelopment district
shall be allocated and
paid to the respective taxing subdivisions in the same manner as are
other ad valorem taxes. If such obligation bonds and interest thereon
have been paid before the completion of a project, the city may continue to
use such moneys for any purpose authorized by this act until such time as the
project is completed, but for not to exceed 20 years from the date
of the approval of the
project plan, except as otherwise provided by this act.
(c) In any project plan or in
the proceedings for
the
issuing
of any special obligation bonds or full faith and credit tax increment
bonds by the city to finance a redevelopment
project, the property tax increment portion of taxes provided for in paragraph
(2) of
subsection (c) may be irrevocably pledged for the
payment of the principal of and interest on such obligation
bonds, subject to the provisions of subsection (c) of K.S.A.
12-1774, and amendments thereto.
(d) A city may adopt a project plan in
which
only a specified
percentage or amount of
the tax increment realized from taxpayers in the redevelopment district are
pledged to the redevelopment project. The county treasurer shall allocate the
specified percentage or amount of the tax increment to the treasurer of
the city for
deposit in the special fund of the city to finance the redevelopment project
costs if the city has other available
revenues and pledges the revenues to
the redevelopment project in lieu of the tax increment. Any portion of such
tax increment not allocated to the city for the redevelopment project shall be
allocated and paid in the same manner as other ad valorem taxes.
History: L. 1976, ch. 69, § 6; L. 1979, ch. 52, § 6; L.
1984,
ch. 74, § 6;
L. 1988, ch. 78, § 6;
L. 1996, ch. 228, § 6; L. 1998, ch. 17, § 4;
L. 1998, ch. 169, § 2;
L. 2001, ch. 103, § 11; April 26.