Annexation Adjustment Sample Clauses

Annexation Adjustment. An annexation adjustment reducing the County’s annual payment as stated in Appendix A shall take effect during the second year (FY19/20) of the Agreement and shall continue for the duration of the Agreement. All parcels annexed into the City for the previous calendar year that are subject to City taxation as of January 1, will be reported to the County Budget Department by January 31st of each year. The annual payment listed on Appendix A shall be reduced by the January 1 valuation of the previous calendar year’s annexed parcels multiplied by the rate of the DCFR District tax (being solely the tax for Fire Services, and not including other property taxes) for that previous calendar year. The running totals for all annexations already reduced from a previous year’s expenditure will be multiplied by the percentage change of overall real property valuation in Durham County (less any valuation attributed to parcels located in the Research Triangle Park) in the current calendar year as compared to the prior calendar years indicated on the annual TR-1 report. The County and the City shall agree on the net recalculated payment determined by the annexation adjustment formula provided below before annual payments are provided to the City. The following illustrates the annual calculations. Note the tax rate used is not the actual BOCC approved tax rate, and is used for EXAMPLE only. In case of conflict between the formula for payment to the City described above compared to the method of calculations shown below, the method of calculations below shall have priority. Appendix A shall control in priority, should there be ambiguity or conflict between its provisions and those in this section. Year 1 Scheduled Payment (Appendix A) = $4,048,679 Year 1 Net Recalculated Payment = $4,048,679 Year 1 Annexations Valuation (A) = $2,000,000 Year 1 DCFR Tax Rate (B) = $0.14 / $100 Valuation - *Note this is not an actual tax rate (illustrative purposes only) Year 1 District Annexation Revenue (C) = (A/100)*B = ($2,000,000/$100)*$0.14 = $2,800 Year 2 Scheduled Payment (Appendix A) (D) = $4,022,264 Year 2 Net Recalculated Payment (E) = D-C = $4,022,264 - $2,800 = $4,019,464 Year 2 Annexations Valuation (F) = $500,000 Year 2 DCFR Tax Rate (G) = $0.14/$100 Valuation Year 2 District Annexation Revenue (H) = (F/100)*G = ($500,000/$100)*$0.14 = $700 Year 2 Valuation Difference for Durham County excluding RTP (I) = 3.33% Year 3 Valuation Growth of prior annexations (J) = ((C+H)*(1+I)) = (...
Sample 1
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Related to Annexation Adjustment

  • Compensation Adjustments Any compensation agreed to hereunder may be adjusted from time to time by mutual agreement by attaching revised Schedules A or B to this Agreement.

  • Certain Adjustments The Exercise Price and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment from time to time as set forth in this Section 9.

  • CPI Adjustment In this Agreement, “CPI-Adjusted” in reference to an amount means that amount is adjusted under the following formula: N  C  (1 CPIn  CPIc ) CPIc where: ”N” is the new amount being calculated; and “C” is the current amount being adjusted; and

  • Pay Adjustments (1) Where the rate of pay of a position or job is adjusted upwards, the employee shall be placed on the lowest step of the new pay range which will give him/her a monthly increase and the increment anniversary shall be that date.

  • Certificate of Adjustment The Corporation shall from time to time immediately after the occurrence of any event which requires an adjustment or readjustment as provided in Section 4.1, deliver a certificate of the Corporation to the Warrant Agent specifying the nature of the event requiring the same and the amount of the adjustment or readjustment necessitated thereby and setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based, which certificate shall be supported by a certificate of the Corporation’s Auditors verifying such calculation. The Warrant Agent shall rely, and shall be protected in so doing, upon the certificate of the Corporation or of the Corporation’s Auditor and any other document filed by the Corporation pursuant to this Article 4 for all purposes.

  • ECONOMIC ADJUSTMENT Beginning twelve (12) months after the effective date of this Statewide Contract and for every annual anniversary thereafter, the prices set forth in Exhibit B – Prices for Services shall be adjusted, based upon the percent changes (whether up or down) in the United States Department of Labor, Bureau of Labor and Statistics (BLS) indices described below, for the most recent year. Economic adjustment will lag one (1) calendar quarter past the Contract commencement date to allow for publication of BLS data. All calculations for the index shall be based upon the latest version of data published as of one year of the effective date each year. Prices shall be adjusted on February 1st. If an index is recoded (i.e., the recoded index is a direct substitute for the prior index according to the BLS), this Statewide Contract will use the recoded index, as applicable. If an index becomes unavailable, Enterprise Services shall substitute a proxy index. If there is not a direct substitute, the next higher aggregate index available will be used. The economic adjustment shall be calculated as follows: New Price = Old Price x (Current Period Pricing/Base Period Index)

  • Structural Adjustment 1. Exceptional measures of limited duration which derogate from the provisions of Article 4 may be taken by the Parties in the form of increased customs duties.

  • EQUITY ADJUSTMENTS The parties subscribe to the principle of equal pay for work of equal value. The parties will continue to move towards the mutual goal of the Community Social Services Sector achieving the objectives set out in Sections A(1), (2) and (3) above, as follows:

  • Cost Adjustments Both parties agree that contracted prices shall be fixed for the first 12 months of this Contract. Contractor must submit to District any proposed cost adjustments at least 60 days before the proposed effective date of such increases with a detailed explanation for each adjustment. District alone reserves the right to reject any changes to this Contract it deems unacceptable.

  • Adjustments to Purchase Price The Purchase Price shall be adjusted as follows:

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