Taxability. The Employer will comply with applicable IRS regulations regarding taxing of Employer provided items.
Taxability. (a) During the period that the Abatement is effective, taxes shall be payable as follows:
(1) The value of the land comprising the Property shall be fully taxable;
(2) The Base Year Value of any existing Improvements comprising the Property shall be fully taxable;
(3) The value of Ineligible Property shall be fully taxable; and
(4) The Added Value of Eligible Property shall be abated as set forth in Section 6.
Taxability. During the period that this tax abatement is effective, taxes shall be payable by the Owner as follows:
a. The value of Ineligible Property shall be fully taxable, and
b. The value of existing improvements, if any, and any other existing Ineligible Property shall be determined in the base year by the FBCAD.
Taxability. During the period that this AGREEMENT is effective, taxes shall be payable as follows:
a. The value of Ineligible Property shall be fully taxable;
b. The Taxable Value of existing Eligible Property as determined each shall be fully taxable; and
c. The value of New Eligible Property shall be abated as set forth in Section 6, hereinabove.
Taxability. At issuance, the Program Bonds will be tax-exempt qualified mortgage bonds within the meaning of Section 143 of the Internal Revenue Code of 1986. If the Program Bonds do not satisfy the requirements of the foregoing sentence, then the HFA hereby certifies that the HFA reasonably expects to have volume cap or alternative means of issuing tax-exempt bonds on a timely basis and in a manner which will permit the release of all Escrowed Proceeds (as defined below) by December 31, 2010, and will use its reasonable best efforts to obtain volume cap if necessary.
Taxability. For tax years beginning on or after the execution of the tax abatement agreement to the end of the agreement period taxes shall be payable as follows;
(1) the value of ineligible property as provided in Section 3(e) shall be fully taxable;
(2) the base year value of existing eligible property shall be fully taxable; and
(3) the value of eligible property shall be taxable in the manner described in Section 3(g).
Taxability. During the period that this tax abatement is effective, taxes shall be payable by the Owner and Lessee as follows:
(a) The Value of Real Property and Ineligible Property shall be fully taxable, including inventory
(b) The Value of existing Improvements and Eligible Property shall be determined in the base year by the Fort Bend Central Appraisal District.
Taxability. At issuance, the Program Bonds will be tax-exempt (exempt facility) bonds issued to finance qualified residential rental projects within the meaning of Section 142 of the Internal Revenue Code of 1986. If the Program Bonds do not satisfy the requirements of the foregoing sentence, then the HFA hereby certifies that it reasonably expects to have volume cap or alternative means of issuing tax-exempt bonds on a timely basis and in a manner which will permit the release of all Escrowed Proceeds (as defined below) by December 31, 2010, and will use its reasonable best efforts to obtain volume cap if necessary.
Taxability. During the period that this Agreement is effective, taxes shall be payable by the Owner as follows:
a. The value of Real Property (as land only) and Ineligible Property shall be fully taxable at all times.
b. The value of existing improvements, if any, and any Eligible Property existing in the reinvestment zone prior to the effective date of this Agreement, if any, shall be fully taxable based on their determined Certified Appraised Value.
c. Prior to commencement of the ten-year Abatement period, the Certified Appraised Value of all property owned by Owner located in the District shall be fully taxable at all times.
d. Beginning on January 1 of the first calendar year after the Certificate is delivered, the percentage of property taxes set forth in the table above on the Certified Appraised Value of all Eligible Property shall be abated for the entire ten-year abatement period.
e. After expiration of the ten-year abatement period, 100% of the Certified Appraised Value of all property owned by Owner located in the District shall be fully taxable at all times.
Taxability. (a) In the event a Taxable Date occurs, the Notes shall bear interest at the Taxable Rate on and after the Taxable Date. In addition to the foregoing (but not in duplication thereof), in the event a Taxable Date occurs, the City hereby agrees to pay to the Bank or any Holder on demand therefor, (1) an amount equal to the difference between (A) the amount of interest that would have been paid to the Bank or any Holder, as applicable, on any Note during the period for which interest on such Note is includable in the gross income of the Bank or any Holder, if such Note had borne interest at the Taxable Rate, beginning on the Taxable Date (the “Taxable Period”), and (B) the amount of interest actually paid to the Bank or any Holder, as applicable, during the Taxable Period, and (2) an amount equal to any interest, penalties or charges owed by the Bank or any Holder, as applicable, as a result of interest on the Notes becoming includable in the gross income of the Bank or any Holder, as applicable, together with any and all reasonable attorneys’ fees, court costs, or other out-of-pocket costs incurred by the Bank or any Holder, as applicable, in connection therewith; provided, that at no time shall the interest rate exceed the applicable Maximum Interest Rate.
(b) The obligations of the City under this Section 2.07 shall survive the termination of this Agreement.
