§ 22-157. Credit for farm valuation rollback of taxes.

When land being developed that is subject to the dedication or contribution requirements of this article VIII has been classified in such a way that the assessed valuation has resulted in a farm valuation less than it would otherwise be assessed and is subject to a rollback of assessment and/or real estate taxes, the developer may claim a credit in the amount of the additional taxes paid to the schools and the village to be applied against the developer's obligation under the terms this article VIII. Satisfactory evidence of payment shall be provided to the village before any such credit will be granted.

(Ord. No. 96-0-14, § 2(22-811), 3-14-96)