235. For the purposes of section 234, the taxable property assessment of a local municipality is the total of the taxable values entered on its property assessment roll.
Where a municipality does not avail itself of sections 253.27 to 253.34, the taxable values used for the purposes of the first paragraph are, for the first fiscal year for which the roll applies, those entered thereon on the date of its deposit and, for the second and third fiscal years, those entered thereon on the date of the first and second anniversaries of the deposit.
Where a municipality avails itself of sections 253.27 to 253.34, the taxable property assessment established for the first fiscal year shall be used, as adjusted, to establish the aggregate taxation rate for each of the first and second fiscal years for which the roll applies.
The adjusted assessment shall be determined by using, instead of their taxable values entered on the roll, the adjusted values that would apply to certain taxable units of assessment for the purposes of the imposition of property taxes for the first or the second fiscal year, as the case may be, if any reference in sections 253.28 to 253.30, 253.33 and 253.34 to the coming into force of the roll concerned meant the date of its deposit.
For the purpose of computing the adjusted assessment applicable for the second fiscal year, the net increase or decrease in the taxable values resulting from alterations made to the roll in the 12 months following the date of the deposit of the roll shall be added to or subtracted from that established for such fiscal year under the fourth paragraph.
The aggregate taxation rate of a municipality referred to in the third paragraph shall be established, for the third fiscal year for which the roll applies, as if the municipality were referred to in the second paragraph.
In cases where the sole fiscal year, the second fiscal year or the fiscal year subsequent to the third fiscal year for which a roll applies is considered to be the third fiscal year under section 72.1, the obligation under the second paragraph of this section to take into account the values entered on the roll on the date of the second anniversary of its deposit is
(1) in the first case, inoperative;
(2) in the second case, adapted as if the anniversary concerned were the first;
(3) in the third case, adapted as if the anniversary concerned were that preceding the beginning of the supplementary fiscal year for which the roll applies.
For the purposes of section 234, the standardized taxable property assessment is the product obtained by multiplying the factor established under section 264 for the first fiscal year for which the roll applies by
(1) the values referred to in the first paragraph or the adjusted values that replace them under the fourth paragraph;
(2) the net increase or decrease in the taxable values referred to in the fifth paragraph.
The aggregate taxation rate and the taxable property assessment referred to in the third and sixth paragraphs are, when the eight paragraph is applied, a standardized aggregate taxation rate and a standardized taxable property assessment.
1979, c. 72, s. 235; 1988, c. 76, s. 66; 1991, c. 32, s. 114; 1999, c. 40, s. 133; 2000, c. 54, s. 69.