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15 Cards in this Set
- Front
- Back
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ad valorem taxes
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property taxes that are based on the market value of the property
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affordable housing allocation
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a requirement that encourages or mandates a 'reasonable and fair' component of new housing construction for lower income families
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assessed value
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the value determined as the basis on which an owner's property tax liability is calculated, usually a percentage of market value
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comprehensive plan
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a local government's general guide to a community's growth and development based on the community's goals and objectives
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concurrency
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the requirement that public facilities and services, includeing roads, sewers, and schools, be available at the same time new development is completed.
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condemnation
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the legal procedure involved with eminent domain, the right of gov to acquire private propert, without the owner's consent, for public use in exchange for just compensation
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dedicated (property)
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to convey certain lands of a subdivision to the local government
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economic and environmental impact statements
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studies of the effect that a new development will have on the economy or the environment of the region
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effective tax rate
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the tax liability divided by the property's market value
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eminent domain
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the power of government in the us to take private property for a public purpose by paying the owner just compensation
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exclusionary zoning
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zoning that tends to exclude lower income groups and is prohibited
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externalities
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the unaccounted effects that a land use imposes on surrounding parcels
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extraterritorial jurisdiction
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control by a community of an area larger than the community of jurisdiction for planning and zoning purposes, granted by the state legislature, which allows local governments to plan and control urban development outside their boundaries until annexation can occur
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growth moratorium
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a temporary prohibition of further development in a community or jurisdiction
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homestead exemption
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a provisionin some states that allows specified taxpayers to apply for a deduction of a certain amount from the property's assessed value in calculating the annual property tax liability
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