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A. The Council shall not levy assessments in an Economic Improvement
District in any year that exceed one percent of the true cash value of all the
real property located within the District. B. Any new owner of benefitted property or any owner of benefitted
property who excluded the property from assessment by submitting written
objections may subsequently agree to the assessment of the property. The Council
shall apply the assessment formula to the property and apportion the costs to
the property for the remaining time in which the assessment is levied.
C. The assessed property may not be relieved from liability for that
assessment for any reason including change of ownership.
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