County Abatement definition

County Abatement means the property taxes generated in any tax-payable year by extending the County’s total tax rate for that year against the tax capacity of the Development Property in accordance with this Agreement, excluding the portion of the tax capacity attributable to the areawide tax under Minnesota Statutes, Chapter 473F, all as of January 2 in the prior year.
Sample 1Sample 2Sample 3
County Abatement means the personal property taxes generated in any tax-payable year by extending the County’s total tax rate for that year against the tax capacity of the Development Property in accordance with this Agreement, excluding the portion of the tax capacity attributable to the areawide tax under Minnesota Statutes, Chapter 473F, all as of January 2 in the prior year.
Sample 1Sample 2
County Abatement means agreement by the County to grant an abatement to Target pursuant to the Abatement Act.
Sample 1

Examples of County Abatement in a sentence

  • The County does not warrant or represent that the County Abatement in the amounts pledged under this Agreement will be within the County’s Abatement Volume Cap.

  • The pledge of County Available Abatements is subject to all the terms and conditions of the County Abatement Resolution.

  • Subject to the County Abatement Volume Cap described in (b), the County shall pay the City the County Available Abatement on or before the business day prior to each Payment Date, commencing the business day prior to August 1, 2020, and continuing through the business day prior to February 1, 2030.

  • The Developer understands that the City Abatement and County Abatement pledged pursuant to this Agreement are derived from real property taxes on the Development Property, which taxes must be promptly and timely paid.

  • The County Available Abatement are payable solely from and to the extent of the County Abatement, and nothing herein shall be construed to obligate the County to make payments from any other funds.

  • Further, in no event shall the cumulative City Abatement and County Abatement paid to the Developer during the term of this Agreement exceed an amount of $450,000.00.

  • In no event shall the City Abatement and the County Abatement provided to the Developer from August 1, 2020 through February 1, 2035, together with the amount of property tax abatements provided by the School District, exceed $2,768,100.

  • Daleiden moved to approve the Wright County Abatement Policy as presented, seconded by Potter.

  • Subject to the County Abatement Volume Cap described in (b), the County shall pay the City the County Available Abatement on or before the business day prior to each Payment Date, commencing the business day prior to August 1, 2027, and continuing through the business day prior to February 1, 2042.

  • Further, in no event shall the cumulative City Abatement, ISD No. 721 Abatement and County Abatement paid to the Developer during the term of this Agreement exceed an amount of $809,943.00.


More Definitions of County Abatement

County Abatement means the amount equal to that which is calculated in each tax-payable year as follows: the Net Tax Capacity of the Development Property as improved by the Minimum Improvements, as of January 2 in the prior year, less the Net Tax Capacity of the value of the land and existing improvements on the Development Property, as established by the County Assessor on January 2, 2016 for taxes payable in 2017 and less any portion of the Net Tax Capacity attributable to the areawide tax under Minnesota Statutes, Chapter 473F, then multiplied by the County’s Local Tax Rate for the Development Property for the subject tax-payable year, to the extent actually received by the County as its share of property taxes.
Sample 1

Related to County Abatement

  • Residential rental property means property that is used solely as leased or rented property for residential purposes. If the property is a space rental mobile home park, residential rental property includes the rental space that is leased or rented by the owner of that rental space but does not include the mobile home or recreational vehicle that serves as the actual dwelling if the dwelling is owned and occupied by the tenant of the rental space and not by the owner of the rental space.

  • County Manager means the County Manager appointed by the County Council pursuant to the Luzerne County Charter;

  • domestic premises means any premises used wholly or partly as a dwelling or intended for such use;

  • Renovation means altering a facility or one or more facility components in any way, including the stripping or removal of RACM from a facility component. Operations in which load-supporting structural members are wrecked or taken out are demolitions.