Common use of Tax Abatement Clause in Contracts

Tax Abatement. Knowledge-based Companies within the ICM Area. The duration for tax abatement, within the ICM Area described above, shall be for 10 years or until the expiration, termination or decertification of the DeKalb County Enterprise Zone or the termination of the abatement based upon non-compliance with this Agreement or the MOU, whichever is sooner. The following abatement schedule shall be followed: i. For taxes levied in the first year of abatement: 90% ii. For taxes levied in the second year of abatement: 90% iii. For taxes levied in the third year of abatement: 80% iv. For taxes levied in the fourth year of abatement: 70% v. For taxes levied in the fifth year of abatement: 60% vi. For taxes levied in the sixth year of abatement: 40% vii. For taxes levied in the seventh year of abatement: 30% viii. For taxes levied in the eighth year of abatement: 20% ix. For taxes levied in the ninth year of abatement: 10% x. For taxes levied in the tenth year of abatement: 5%

Tax Abatement. KnowledgeLogistics-based Companies within the ICM AreaICM. The duration for tax abatement, abatement within the ICM Area described above, above shall be for 10 9 years or until the expiration, termination or decertification of the DeKalb County Enterprise Zone or the termination of the abatement based upon non-compliance with this Agreement or the MOU, whichever is sooner. The following abatement schedule shall be followed: i. For taxes levied in the first year of abatement: 90% ii. For taxes levied in the second year of abatement: 9080% iii. For taxes levied in the third year of abatement: 8050% iv. For taxes levied in the fourth year of abatement: 7050% v. For taxes levied in the fifth year of abatement: 6050% vi. For taxes levied in the sixth year of abatement: 40% vii. For taxes levied in the seventh year of abatement: 30% viii. For taxes levied in the eighth year of abatement: 20% ix. For taxes levied in the ninth year of abatement: 10% x. For taxes levied in the tenth year of abatement: 50%

Tax Abatement. Knowledge-based Companies within the ICM Area. The duration for tax abatement, within the ICM Area described above, shall be for 10 years or until the expiration, termination or decertification of the DeKalb County Enterprise Zone or the termination of the abatement based upon non-compliance with this Agreement or the MOUZone, whichever is sooner. The following abatement schedule shall be followed: i. For taxes levied in the first year of abatement: 90% ii. For taxes levied in the second year of abatement: 90% iii. For taxes levied in the third year of abatement: 80% iv. For taxes levied in the fourth year of abatement: 70% v. For taxes levied in the fifth year of abatement: 60% vi. For taxes levied in the sixth year of abatement: 40% vii. For taxes levied in the seventh year of abatement: 30% viii. For taxes levied in the eighth year of abatement: 20% ix. For taxes levied in the ninth year of abatement: 10% x. For taxes levied in the tenth year of abatement: 5%