Definitions for "Base Value"
The total assessed value of all the properties within a project area in the year in which the redevelopment plan is adopted.
The total assessed value of property within a project area in the year in which the redevelopment plan is approved.
This is the expected annual allocation for the start of the next fiscal year. A mid-year PID of 100/month would cause an allocation adjustment of $600 and a base value adjustment of $1200.
The category against which proportions are calculated in Percent of Base calculations.