§ 35-73. Payments into trust fund.

There shall be paid into the fund each year by each of the non-exempt "taxing authorities", as determined under F.S. § 163.340(24) and 163.387, levying ad valorem taxes within the City of West Melbourne/county community redevelopment area, a sum that is at a maximum equal to 95 percent of the incremental increase in ad valorem taxes levied each year by that taxing authority (excluding voter service debt millage), as calculated in accordance with section 35-75 and the controlling provisions of state law, based on the base tax year established in section 35-74 (such annual sum being herein after referred to as the "tax increment").

(Ord. No. 2013-26, § 3, 7-23-13)