17-80-101. Definitions.
As used in this part:
(1) "Affordable housing" means housing offered for sale at 80% or less of the median county home price for housing of that type.
(2) "Agency" means the same as that term is defined in Section. 17C-1-102
(3) "Base taxable value" means a property's taxable value as shown upon the assessment roll last equalized during the base year.
(4) "Base year" means, for a proposed home ownership promotion zone area, a year beginning the first day of the calendar quarter determined by the last equalized tax roll before the adoption of the home ownership promotion zone.
(5) "Division" means the Division of Housing and Community Development within the Governor's Office of Economic Development.
(6) "Home ownership promotion zone" means a home ownership promotion zone created in accordance with Title 63N, Chapter 23, Part 6, Home Ownership Promotion Zone for Counties.
(7) "Implementation plan" means the implementation plan adopted as part of the moderate income housing element of a specified county's general plan.
(8) "Initial report" means the one-time moderate income housing report described in Subsection. 17-80-202(1)
(9) "Internal accessory dwelling unit" means an accessory dwelling unit created: within a primary dwelling; within the footprint of the detached primary dwelling at the time the internal accessory dwelling unit is created; and for the purpose of offering a long-term rental of 30 consecutive days or longer.
(10) "Moderate income housing strategy" means a strategy described in Section. 17-80-201
(11) "Participant" means the same as that term is defined in Section. 17C-1-102
(12) "Participation agreement" means the same as that term is defined in Section. 17C-1-102
(13) "Primary dwelling" means a single-family dwelling that: is detached; and is occupied as the primary residence of the owner of record. "Primary dwelling" includes a garage if the garage: is a habitable space; and is connected to the primary dwelling by a common wall.
(14) "Project improvements" means the same as that term is defined in Section. 11-36a-102
(15) "Report" means an initial report or a subsequent report described in Section. 17-80-202
(16) "Specified county" means a county of the first, second, or third class, which has a population of more than 5,000 in the county's unincorporated areas.
(17) "Subsequent progress report" means the annual moderate income housing report described in Section. 17-80-202
(18) "System improvements" means the same as that term is defined in Section. 11-36a-102
(19) "Tax commission" means the State Tax Commission created in Section. 59-1-201
(20) "Tax increment" means the difference between: the amount of property tax revenue generated each tax year by a taxing entity from the area within a home ownership promotion zone, using the current assessed value and each taxing entity's current certified tax rate as defined in Section; and 59-2-924 the amount of property tax revenue that would be generated from that same area using the base taxable value and each taxing entity's current certified tax rate as defined in Section. 59-2-924 "Tax increment" does not include property revenue from a multicounty assessing and collecting levy or a county additional property tax described in Section. 59-2-1602
(21) "Taxing entity" means the same as that term is defined in Section. 17C-1-102