Base year assessed valuation definition

Base year assessed valuation means the assessed valuation of all real property within the boundaries of a redevelopment district on the date the redevelopment district was established.
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Base year assessed valuation means the assessed valuation of all real properties within the boundaries of the TIF District on the date of publication of the TIF District Ordinance, as described in Section 4.2(a)(i).
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Base year assessed valuation means the assessed valuation of all real properties within the boundaries of the Schoolyard Townhomes RHID on the Effective Date, as described in Section 4.2(a)(i).
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Examples of Base year assessed valuation in a sentence

  • As new development occurs within the Redevelopment District, the total assessed valuation of the District in any given year will presumably exceed its Base Year Assessed Valuation.

  • FINANCIAL INSTRUMENTS The Group’s business activities are exposed to a variety of financial risks, including those related to credit, liquidity and interest rate risks.

  • The total Base Year Assessed Valuation of the Project Area as assessed in 2022 for taxes payable in 2022/2023, is estimated at $100,482, based on the 2022 assessment (see Exhibit II for individual parcel details).

  • Property taxes generated by applying the sum of the property tax rates of all TIF-applicable taxing subdivisions to the increase in assessed value over and above the Base Year Assessed Valuation is referred to as the "tax increment." All tax increment is collected by the county and distributed to the city to be deposited in a tax increment fund.

  • Base Year Assessed Valuation: The assessed valuation of all real property (land and buildings) within the boundaries of a Redevelopment District on the date the Redevelopment District was established.

  • Revision of Base Year Assessed Valuation In your first question, you ask whether the base year assessed valuation may be revised when a taxpayer18 obtains a reduction in the assessed valuation of such taxpayer's real property for the year in which the redevelopment district was established.

  • The property tax increment generated in any given year will be determined by the increase in Current Assessed Valuation over the Base Year Assessed Valuation (value as of January 1, 2022).

  • This valuation is referred to as the District's "Base Year Assessed Valuation." Property taxes attributable to the District's Base Year Assessed Valuation are annually collected and distributed by the county treasurer to the appropriate city, county, school district and all other applicable taxing jurisdictions in the same manner as other property taxes.

Related to Base year assessed valuation

  • Current Assessed Value means the assessed value of the District certified by the municipal assessor as of April 1st of each year that the District remains in effect.

  • Base Year Value means the assessed value of eligible property January 1 preceding the execution of the agreement plus the agreed upon value of eligible property improvements made after January 1 but before the execution of the agreement.

  • Base Year means the period set forth in Section 5 of the Summary.

  • Assessed value means 1 of the following:

  • Equalized assessed value means the assessed value of a property divided by the current average ratio of assessed to true value for the municipality in which the property is situated, as determined in accordance with sections 1, 5, and 6 of P.L.1973, c.123 (C.54:1-35a through C.54:1-35c).

  • Original Assessed Value means zero dollars ($428,400), the taxable assessed value of the Developer Property as of March 31, 2020 (April 1, 2019), provided, however that in the event that a City revaluation occurs and results in an increase or decrease of any Developer Property that was included as a part of the initial Original Assessed Value as of April 1, 2018, the Original Assessed Value then in effect shall be increased or decreased by a like amount and such adjusted Original Assessed Value shall thereafter (subject to another City revaluation) be the Original Assessed Value for the purposes of this Agreement.

  • Tax Expense means (without duplication), for any period, total tax expense (if any) attributable to income and franchise taxes based on or measured by income, whether paid or accrued, of the Consolidated Entities, including the Consolidated Entity’s pro rata share of tax expenses in any Joint Venture. For purposes of this definition, the Consolidated Entities’ pro rata share of any such tax expense of any Joint Venture shall be deemed equal to the product of (i) such tax expense of such Joint Venture, multiplied by (ii) the percentage of the total outstanding Capital Stock of such Person held by the Consolidated Entity, expressed as a decimal.

  • Captured assessed value means the amount in any 1 year by which the current assessed value of the development area, including the assessed value of property for which specific local taxes are paid in lieu of property taxes as determined in subdivision (w), exceeds the initial assessed value. The state tax commission shall prescribe the method for calculating captured assessed value.

  • Tax Expenses means all federal, state, county, or local governmental or municipal taxes, fees, charges or other impositions of every kind and nature, whether general, special, ordinary or extraordinary, (including, without limitation, real estate taxes, general and special assessments, transit taxes, leasehold taxes or taxes based upon the receipt of rent, including gross receipts or sales taxes applicable to the receipt of rent, unless required to be paid by Tenant, personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems and equipment, appurtenances, furniture and other personal property used in connection with the Project, or any portion thereof), which shall be paid or accrued during any Expense Year (without regard to any different fiscal year used by such governmental or municipal authority) because of or in connection with the ownership, leasing and operation of the Project, or any portion thereof.

  • Property tax increment means the amount obtained by:

  • Direct Expenses means “Operating Expenses” and “Tax Expenses.”

  • Cost Share means the member’s financial obligation for a covered Service. Depending on the plan type, Cost Share may include one or more of the following: deductible, Copay, Access Fee, and Coinsurance.

  • Cost Estimate means the detailed projected expenditure, including material costs and overhead, equipment costs and overhead, labor costs and overhead, and all taxes associated with each major material and service component, required for a line extension. It shall also separately identify any incremental costs associated with providing premium services. The Company may, for the purpose of standardization, establish standard construction cost estimates, for basic or premium service plans, which shall not exceed, in any event, the average cost of constructing such line extensions in the area involved, in which case the term “cost estimate” as used in this section will be understood to mean the standard estimate thus established.

  • Excess valuation assets for a valuation period means:

  • Tax Year means a period beginning with 6th April in one year and ending with 5th April in the next;

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.