Annual notice by department of assessed value of real property and tax increment base--Change in laws not to result in lower assessed values--Conditions

The department shall annually give notice to the auditor or finance officer of all governmental entities having the power to levy taxes on real property within a district of both the assessed value of the real property and the assessed value of the tax increment base. The notice shall also explain that the taxes collected in excess of the base will be paid to the municipality as provided in §