Class 1 property definition

Class 1 property means property owned or controlled by a state agency concerning which there are no encumbrances or deed restrictions that limit the exploration or drilling for oil or gas on the property.
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Class 1 property means a road, a building or equipment purchased before 1 April 1975 and actually used in the mining operation;
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Class 1 property means Assessed Property that is or is intended to be developed as detached single family dwelling units, including ancillary uses thereto.
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Examples of Class 1 property in a sentence

  • Arizona has reduced its commercial property tax assessment ratio by 10 percent, from 20 percent to 18 percent, on Class 1 property.

  • The “Rate and Method of Apportionment of Special Assessments” defines Class 1 property as being equal to 1.0 equivalent unit, Class 2 property as being equal to 1.22 equivalent units, and Class 3 property as being equal to 1.45 equivalent units.

  • The fees calculated for the provision of the Municipal Service under this Agreement shall be calculated from the base rate in year 1 of $110,960.40 calculated as set out in Schedule “A” attached hereto, plus an annual increase calculated at the same percentage increase applied to Class 1 property within the District, compounded annually.

Related to Class 1 property

  • Class HI M-2 Formula Interest Distribution Amount" means, as to any Payment Date, the sum of (a) the amount specified in clause (a) of the definition of the term "Class HI: M-2 Formula Distribution Amount" and (b) the Unpaid Class HI: M-2 Interest Shortfall, if any.

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class title means the designation given under these rules to a class and to each position allocated to such class.

  • Class I area means a mandatory visibility protection area designated pursuant to section 169A of the federal Clean Air Act.

  • Class X-A Components The Class A-1 Component, Class A-2 Component, Class A-3 Component, Class A-4 Component, Class A-AB Component and Class A-S Component, each of which constitutes a separate class of “regular interests”, within the meaning of Code Section 860G(a)(1), in the Upper-Tier REMIC with a pass-through rate equal to its Class X Strip Rate from time to time and a notional amount equal to its Component Notional Amount from time to time.