Examples of Certificate of Qualification for Tax Abatement in a sentence
Subject to the terms and conditions of this Contract and within 15 days after Redeveloper’s request, the Authority shall issue and file its Certificate of Qualification for Tax Abatement with the Jackson County Assessor on or about the Completion Date, or if requested by Redeveloper, such earlier date as the Authority may deem necessary or desirable after the Project is substantially complete.
For each of years one (1) through ten (10) of the Tax Abatement Period, the Redeveloper shall pay a Tax Abatement Period PILOT to the Jackson County Collection Department in an amount equal to twenty-five percent (25%) of the ad valorem taxes that would otherwise be assessed against the Property (as improved by the Project Improvements) and payable by the Redeveloper but for the Authority’s issuance of its Certificate of Qualification for Tax Abatement.
The Jackson County Assessor’s statement will include the assessed value of the Property for the year in which the Authority issued the Certificate of Qualification for Tax Abatement (“Maximum Assessed Value”).
The Authority and the Redeveloper acknowledge that, pursuant to the LCRA Law, upon receipt of the Certificate of Qualification for Tax Abatement, the Jackson County Assessor will issue a statement as to the then current assessed valuation of the Property, which valuation shall be the maximum total assessed value of the Property.
The Redeveloper acknowledges that following filing with the Jackson County Assessor, the Certificate of Qualification for Tax Abatement must also be signed by the Jackson County Assessor (or designee) and by the City and that the Authority shall be in compliance so long as the Authority files the Certificate of Qualification for Tax Abatement within the 15-day period even if the Jackson County Assessor and City signatures are not obtained within such period.