§ 49-92. Definitions.

As used in this Ordinance, 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 and within a municipal service taxing unit plus the ad valorem tax levied for all districts dependent to the Board divided by the total taxable value of the County, excluding Voted Millage.

"Aggregate Ad Valorem Taxes" means 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 Collier County Real Property Assessment Rolls referenced in Section 4 of this Ordinance.

"Base Year Assessment Roll" means the last Collier County Real Property Assessment Roll certified by the Property Appraiser prior to the date of adoption of the Tax Increment Resolution.

"Board" means the Board of County Commissioners of the County.

"County" means Collier County, Florida.

"County Manager" means the chief administrative officer of the County or such person's designee.

"Economic Development Plan" means the economic development program referred to in Section 8 of this Ordinance established by resolution of the Board for each Zone.

"Economic Development Trust Fund" or "Trust Fund" means that Trust Fund created by resolution in Section 6 of this Ordinance for each Zone for the deposit, maintenance and accounting of the Tax Increment revenues annually generated within each Zone.

"Initial Tax Increment Year" means the tax year commencing October 1, 2010 or such subsequent tax year as established in the Tax Increment Resolution for the initial determination of a Tax Increment for the annual funding by the County of an Economic Development Trust Fund for a Zone.

"Innovation Zone" or "Zone" means a geographic area created by resolution pursuant to Section 4 of this Ordinance used to determine a Tax Increment to be paid into an Economic Development Trust Fund to fund the Economic Development Plan approved for each Zone.

"Property Appraiser" means the Property Appraiser of the County.

"Tax Increment" means the annual determination for each Zone of the tax increment revenues calculated for each Zone pursuant to the formula adopted in Section 4 of this Ordinance.

"Tax Increment Resolution" means the resolution adopted by the Board pursuant to Section 9 of this Ordinance.

"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. 2010-20, § 3)