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Arts and Entertainment District Tax Calculation

The Arts and Entertainment District Tax Credit (a 10 year credit) shall be calculated as follows: Years 1 through 5: Credit equals 80%; Year 6 Credit equals 70%; Year 7 Credit equals 60%; Year 8 Credit equals 50%; Year 9 Credit equals 40%; Year 10 Credit equals 30% of the increase in the assessment that year over the base year assessment value. For properties allowed an Enterprise Zone Tax Credit, the amount of the Arts and Entertainment Tax Credit is 20% as calculated above, added to the Enterprise Zone Credit.
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