§ 20-173. Definitions.

As used in this division, the following words and terms have the following meanings, unless the context otherwise requires a different definition:

Aggregate ad valorem millage rate means that millage rate obtained from the quotient of the sum of ad valorem taxes levied by the board for countywide programs divided by the total taxable value of the county, excluding any voted millage and any levy within the boundaries of a municipal services taxing unit.

Aggregate ad valorem taxes means the total ad valorem revenue generated by a levy of the aggregate ad valorem millage rate against the total taxable value of the county considered for any of the discrete Okaloosa County real property assessment rolls referenced in section 20-174 of this division excluding any voted millage and any levy within the boundaries of a municipal services taxing unit.

Base year assessment roll means the last Okaloosa County Real Property. Assessment roll certified by the property appraiser as of January 1, 2015.

Board means the Board of County Commissioners of Okaloosa County. "County" means Okaloosa County, Florida.

County administrator means the chief administrative officer of the county or such person's designee.

Initial tax increment year means the tax year commencing January 1, 2016 for the initial determination of a tax increment for the annual funding by the county of a trust fund for the expansion, improvement and reconstruction of the project.

Municipal services taxing unit means the ad valorem tax levy imposed within the boundaries of a snit created pursuant to Section 125.01(1)(q), Florida Statutes.

North Okaloosa Transportation Tax Increment Area means the geographic area incorporated in section 20-174 of this division and described in Attachment A* which is the geographic area to be utilized to define and determine the tax increment to be paid into the P. J. Adams Construction Trust Fund to fund the expansion, improvement and reconstruction of the project.

P. J. Adams Construction Trust Fund or trust fund means that trust fund created by section 20-176 of this division for the deposit, maintenance and accounting of the tax increment revenues annually generated for the expansion, improvement and reconstruction of the project.

Project means the expansion, improvement and reconstruction of P. J. Adams Parkway, Antioch Road from Arena Road to P.J. Adams Parkway, access ramps to Interstate 10, Interstate frontage roads between State Road 85 and Antioch Road, Raspberry Road, and portions of Arena Road as described in the project development and environmental study as adopted by the Federal Highway Administration on September 3, 2013. The roadway expansion may include signage, stormwater improvements, street lighting, signalization and landscaping.

Property appraiser means the property appraiser of the county.

Tax increment means the annual determination for the expansion, improvement and reconstruction of the project of the amount of tax increment revenues calculated pursuant to the formula adopted in section 20-174 of this division.

Voted millage means ad valorem taxes levied in excess of maximum millage amounts authorized by law approved for periods not longer than two years by vote of the electors pursuant to Article VII, Section 9(b), Florida Constitution, or ad valorem taxes approved by the electors and levied as provided in Article VII, section 12, Florida Constitution, whether required and authorized by law, ordinance or the Florida Constitution.

( Ord. No. 15-03 , § 3, 2-3-15; Ord. No. 17-15 , § 1, 8-1-17)

 * Editor's note— Attachment A was not included in the codification of this division and can be found in the offices of the county.