(a) "Assessable property" means all property owned or used by a commercial enterprise which is located within a business improvement district (whether or not it is subject to a real property tax abatement) and which is not part of a class of property which is exempted from assessment pursuant to § 1503(a) of this title. (b) "Assessment base" means any tax or license fee lawfully imposed by a municipality relating to real property or the operation of a commercial enterprise. (c) "Assessment zone" means an area of a business improvement district designated by the municipality to fund a certain percentage of the district's annual budget within which the assessment rate is uniform. (d) "Authority" means a body politic or corporate exercising public powers of the State as an agency thereof in accordance with the provisions of this chapter and the ordinance creating such authority. (e) "Business improvement district" or "district" means an area of a city designated for the provision of services by an authority or management company as defined by an ordinance adopted by the city in accordance with this chapter. (f) "City" or "municipality" means any incorporated municipality or town. (g) "Management company" means an authority which in accordance with the express terms of the ordinance creating it is duly incorporated under the not-for-profit incorporation provisions of the Delaware General Incorporation Law [Chapter 1 of Title 8]. (h) "Services" means those functions undertaken directly or indirectly by an authority or management company for the benefit and advantage of the business improvement district.
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