Whenever the municipality, as lessor, leases its property within the TIF District, the property shall be assessed and taxed in the same manner as privately owned property, and the lease or contract shall provided that the lessee shall pay taxes or payments in lieu of taxes upon the assessed value of the entire property and not merely the assessed value of the leasehold interest.
Structure Delaware Code
Chapter 17. MUNICIPAL TAX INCREMENT FINANCING ACT
§ 1703. Bonds to finance development of industrial, commercial or residential area authorized.
§ 1705. Application of bond proceeds.
§ 1706. Conditions precedent to issuance of bonds.
§ 1707. Resolution creating special fund.
§ 1708. Uses of special fund; issuance of general obligation bond.
§ 1708A. Pledge of revenue from taxes on tax increment into other fund.
§ 1709. Agreements to pay revenue from taxes on tax increment into special fund.
§ 1710. Ordinance authorizing bonds.
§ 1711. Exemption of bonds from taxation.
§ 1712. Nature and incidents of bonds.
§ 1713. TIF District consistency with certified comprehensive plan.
§ 1714. Construction of chapter.
§ 1715. Taxation of leased property in TIF District.
§ 1716. Special provision applicable to the City of Dover, Delaware.