Escalator
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The initial Maximum Tax Rate will increase by the greater of the annual percentage change in the Marshal & Swift Western Cities Class B Construction Cost Index as of December of the prior year, or 2.00%, commencing July 1, 2010. Each July 1, after the Fiscal Year in which the Assessor's Parcel was first classified as Developed Property, the Maximum Tax Rate will increase by 2.00% per year.
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