Assessed value of property in tax increment financing district created before July 1, 2018--Districts created for industrial or economic development purposes

The assessed value as determined in § 13-13-10.1 of any property in a tax increment financing district formed on or before December 31, 1994, and created pursuant to chapter 11-9 is the tax increment base, as defined in § 11-9-19 until the district ceases to exist as provided in §