Base Year Value definition

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 Value means the assessed value of eligible property on the January 1st preceding the execution of the agreement.

Base Year Value means the amount, measured in money, that a willing buyer in an arm's length transaction would pay to acquire the item of tangible personal property subject to the lease under consideration at the time the lease or bailment was first consummated. For purposes of applying this definition to a specific factual situation, the amount stated in the agreement as the amount which the lessee would have had to pay to acquire the leased property instead of leasing the property will be deemed to be the base year value, provided that the department does not determine that such amount is unrealistically low in relation to the other terms contained in the agreement.

Examples of Base Year Value in a sentence

• If on January 1st of any tax year listed on the “Tax Abatement Schedule” the Taxable Value is less than the Base Year Value, then the abatement of value otherwise available shall be reduced by one dollar for each dollar that the Taxable Value of realty improvements is less than the Base Year Value, except that no such reduction of OWNER’s abatement shall be made should any reduction to Taxable Value of OWNER’s Eligible Property result from a Force Majeure event.

• For each year under this Agreement, the abatement percentage received by OWNER under this AGREEMENT with respect to the value of New Eligible Property, is set forth on attached Exhibit: “Tax Abatement Schedule” The Abatement during each year covered by this Agreement shall be the value attributable to the Project multiplied by Abatement Schedule, adjusted by the Base Year Value.

• Any Incentives provided pursuant to this Policy shall not reduce the Base Year Value of the Facility.

• The Jefferson County Central Appraisal District will establish the certified values of Eligible Property as of January 1, 2023 (year abatement executed) as set forth on attached Exhibit “B,” and such values shall be the values used to calculate the Base Year Value as herein defined.

• Any Rehabilitation Project must involve the adaptive reuse of an existing structure or building currently on the property tax rolls so that the Base Year Value associated with the Project will include both the value of the land and the existing improvements.

More Definitions of Base Year Value

Base Year Value means the taxable value of all industrial realty improvements owned by the property owner and/or its Affiliates within Jefferson County on January 1 preceding the execution of the abatement agreement. OWNER will, in consultation with the Jefferson County Appraisal District, provide the COUNTY with a list of the Jefferson County Appraisal District account numbers identifying the industrial realty improvements owned by the property owner and/or its Affiliates and the taxable value thereof on January 1 preceding the execution of the abatement agreement for use in preparing the schedule to be attached as an exhibit to the abatement agreement before execution specifying the Base Year Value for all purposes of the abatement agreement. “Base year”, for the parties to this agreement, is defined as the calendar year in which this abatement contract is executed (signed) by all parties hereto.

Base Year Value means the assessed value of either the applicant's real and/or personal property improvements located on the real property as of January 1 of the year of the execution of the agreement plus the agreed upon value of any property improvements made after January 1 of that year but before execution of the agreement.

Base Year Value means the appraised value in the Reinvestment Zone on January 1 preceding the effective date of the tax abatement agreement, plus the agreed upon value of eligible property improvements made after January 1 but before the effective date of the agreement, or the sales price, if the property was conveyed subsequent to January 1, whichever is greater.

Base Year Value means the Appraised Value of Eligible Property as of the date specified in the Agreement.

Base Year Value means the taxable value of eligible industrial realty improvements of the owner within Jefferson County on January 1 preceding the execution of the abatement agreement and which property is owned by the owner, co- owner and/or its parent companies, subsidiaries, partner or joint ventures or any entity exercising legal control over the owner or subject to control by the owner. Owner will attach as Exhibit “F-Affiliates” those properties which are co-owned or which are parent companies, partnerships, joint-ventures or other entities in Jefferson County over which the Owner herein exercises legal control.

Base Year Value means the assessed value on the eligible property as of January 1 preceding the execution of the Agreement.

Base Year Value is defined as the taxable value of the Property as appraised by the Hays County Appraisal District for the tax year 2019. The “Eligible Property” is defined as the Property and all Real Property Improvements located at the Property. The “Real Property Improvements” are defined as improvements to the Property and shall include the Improvements and other structures or fixtures erected or affixed to land that are necessary and suitable for the operation of the Business on the Property, that are included in the definition of real property set forth in Section 1.04(2), Texas Tax Code as amended.