Composite index: Difference between revisions
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The term '''composite index''', in the context of the 1982 [[Revenue Sharing Agreement]] between the City and Albemarle County | The term '''composite index''', in the context of the 1982 [[Revenue Sharing Agreement]] between the City and Albemarle County; refers to the statistical grouping of the population and the real property tax revenue for the respective jurisdictions; combined in a standardized way to derive their respective split contribution to the shared fund from their real property tax revenues within their respective political boundaries. <ref>http://files.cvilletomorrow.org/docs/19820217-revenue-sharing-agreement.pdf</ref> | ||
The '''composite index''' formula is used to calculate how much of the pool (shared fund) each jurisdiction should receive, compared to how much they contributed. | |||
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Revision as of 17:00, 18 November 2018
The term composite index, in the context of the 1982 Revenue Sharing Agreement between the City and Albemarle County; refers to the statistical grouping of the population and the real property tax revenue for the respective jurisdictions; combined in a standardized way to derive their respective split contribution to the shared fund from their real property tax revenues within their respective political boundaries. [1]
The composite index formula is used to calculate how much of the pool (shared fund) each jurisdiction should receive, compared to how much they contributed.
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