Base Tax Amount definition

Base Tax Amount means a sum equal to the tax revenue arising from the Project Area during the Base Year, which is calculated as the product of the Base Taxable Value and the certified tax rate in effect during the Base Year.

Base Tax Amount means the Taxes for the Base Tax Year.

Base Tax Amount means the Taxes, as finally determined, for the Tax Year in which occurs the Commencement Date of such Extension Term; and

Examples of Base Tax Amount in a sentence

• With respect to the Redevelopment Project, the actual base tax year and Base Tax Amount for the Redevelopment Project will be set forth in the redevelopment contract and/or the resolution authorizing the TIF Indebtedness (defined below).

• Third, seventy-five percent (75%) of the excess of property taxes over the Total Base Tax Amount less the two percent (2%) fee due to the Shelby County Trustee as set forth above (the " TIF Revenues") will be allocated and, as collected, paid into a separate fund of the Board created to hold such payments until the tax proceeds in the fund are to be applied to pay the Eligible Costs as described above.

• Fifth, twenty percent (20%) of the excess of property taxes over the Total Base Tax Amount less than two percent (2%) fee due to the Shelby County Trustee as set forth above will be allocated to and, as collected, paid to the City and the County as all other taxes levied by the City and County on all other properties.

• Fourth, five percent (5%) of the of the excess of property taxes over the Total Base Tax Amount less the two percent (2%) fee due to the Shelby County Trustee as set forth above shall be payable to the Board as a fee for administering the Tax Increment Incentive.

• By way of example, if the number of New Jobs for the December 31, 2020 Report Date is 60, the Additional Payment would be 50% of the Abatement Amount [1-(60/80) = 0.25 X 2 = .50 or 50%], and the total payment shall be the In Lieu of Tax Payment of the Base Tax Amount, plus 40% of the Increment, plus the Additional Payment, which equals 30% of the Increment for that year, with the result that the abatement is reduced to 30% of the Increment.

More Definitions of Base Tax Amount

Base Tax Amount means the amount of Taxes with respect to the Tax Year commencing on July 1, 2005 and ending on June 30, 2006;

Base Tax Amount means fifty percent (50%) of the sum of the Taxes attributable to (i) the 2007/2008 Tax Year, as the same may be adjusted, and (ii) the 2008/2009 Tax Year, as the same may be adjusted.

Base Tax Amount means that portion of taxes that would be produced by the rate upon which the tax is levied each year by or for all taxing agencies upon the total sum of the taxable value of the taxable property in a redevelopment project area as shown upon the assessment roll used in connection with the taxation of the property by the taxing agencies, last equalized before the effective date of the:

Base Tax Amount means one-half of the sum of the Taxes, as finally determined, for (i) the Tax Year commencing on July 1, 2007 plus (ii) the Tax Year commencing July 1, 2008.

Base Tax Amount means the Taxes for the period commencing on July 1, 2014 and ending on June 30, 2015.

Base Tax Amount means the Taxes (excluding any amounts described in Section 3.04(b)(iii)) for the period commencing on July 1, 2002 and ending on June 30, 2003. Landlord represents and warrants that the Base Tax Amount will not include, and shall not be reduced by, any As-of-Right Benefits (defined below).

Base Tax Amount. The Taxes payable for the Fiscal Year commencing July 1, 2014 and ending June 30, 2015, as finally determined.