Incremental property tax revenue definition

Incremental property tax revenue means the same as that term is defined in Section 63N-2-502.
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Incremental property tax revenue means the amount of property tax revenue
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Incremental property tax revenue means the amount of property tax revenue generated from hotel property that equals the difference between:
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Examples of Incremental property tax revenue in a sentence

  • Incremental property tax revenue generated by the development will play a decisive role in encouraging private development.

  • Incremental property tax revenue generated by redevelopment activities will play a decisive role in encouraging private redevelopment.

  • Next to the US dollar and the euro, the Swiss franc remained the third most important currency in the foreign exchange and derivatives business of domestic bank offices.The maturity distribution of forward transactions was stable as well: transactions with maturities of seven days or less captured 67% of turnover, while contracts with maturities ranging from eight days to one year accounted for 32%.

  • Introduction // The Povest’ vremennyx let: An Interlinear Collation and Paradosis / Compiled and ed.

  • However, other elements could be reviewed in liaison with members of the public for next years report.

  • The Authority shall in its turn inform the company within another month of its views on the proposlas; otherwise these proposals shall be treated as approved by The Authority.

  • Incremental property tax revenue is calculated based on the current property values of the TIF district less the TIF district property values at the time the TIF district was established, multiplied by the municipal and education property tax rates.

  • Incremental property tax revenue is the primary funding sources for the URAD.

  • Incremental property tax revenue is calculated based on the current property values of the TIF district less the TIF district property values at the time the TIF district was established (original taxable value), multiplied by the municipal and education property tax rates.

  • Period that incremental property tax revenue may be retained for payment of debt Incremental property tax revenue may be retained in each year subsequent to creation of the district for which the current assessed valuation exceeds the OTV until all capital indebtedness of the district has been fully paid.


More Definitions of Incremental property tax revenue

Incremental property tax revenue means Property Tax Revenue in excess of an amount equal to the ad valorem property taxes produced by the levy at the rates fixed for such year by or for the governing bodies of the various taxing jurisdictions within or overlapping the Urban Renewal Area upon a valuation for assessment equal to the Property Tax Base Amount.
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Incremental property tax revenue means the amount of property tax revenue generated from hotel property that equals the difference between: (a) the amount of property tax revenue generated in any tax year by all taxing entities from hotel property, using the current assessed value of the hotel property; and (b) the amount of property tax revenue that would be generated that tax year by all taxing entities from hotel property, using the hotel property's base taxable value.
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Incremental property tax revenue means the amount of property tax revenue 1641 generated from hotel property that equals the difference between: 1642 (a) the amount of property tax revenue generated in any tax year by all taxing entities 1643 from hotel property, using the current assessed value of the hotel property; and 1644 (b) the amount of property tax revenue that would be generated that tax year by all 1645 taxing entities from hotel property, using the hotel property's base taxable value. 1646 (17) "Local portion" means the portion of new tax revenue that is generated by local 1647 taxes. 1648 (18) "Local taxes" means a tax imposed under: 1649 (a) Section 59-12-204; 1650 (b) Section 59-12-301; 1651 (c) Sections 59-12-352 and 59-12-353; 1652 (d) Subsection 59-12-603(1)(a)(i)(A); 1653 (e) Subsection 59-12-603(1)(a)(i)(B); 1654 (f) Subsection 59-12-603(1)(a)(ii); 1655 (g) Subsection 59-12-603(1)(a)(iii); or 1656 (h) Section 59-12-1102. 1657 (19) "New tax revenue" means construction revenue, offsite revenue, and onsite 1658 revenue. 1659 (20) "Offsite revenue" means revenue generated from state taxes and local taxes 1660 imposed on transactions by a third-party seller occurring other than on hotel property during the 1661 eligibility period, if: 1662 (a) the transaction is subject to a tax under Title 59, Chapter 12, Sales and Use Tax 1663 Act; and 1664 (b) the third-party seller voluntarily consents to the disclosure of information to the 1665 office, as provided in Subsection 63N-2-505(2)(b)(i)(E). 1666 (21) "Onsite revenue" means revenue generated from state taxes and local taxes 1667 imposed on transactions occurring on hotel property during the eligibility period. 1668 (22) "Public infrastructure" means: 1669 (a) water, sewer, storm drainage, electrical, telecommunications, and other similar 1670 systems and lines;
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Incremental property tax revenue means the real estate tax revenue actually received by the City during a given fiscal year based upon the extension of the real estate tax levies against the incremental EAV, being the EAV by which the most recent EAV exceeds the initial EAV of the Project Site prior to any construction or site preparation activities undertaken by the Developer on the Project Site pursuant to this Agreement. The Developer shall have the right to assign the rights to the annual incentive payments and to enter into such other agreements and instruments as the Developer deems necessary or desirable to monetize the annual incentive payments at the Closing. Further, at Closing, the City, upon request, shall execute and deliver such agreements and instruments in connection with any of the foregoing, each in form and substance reasonably satisfactory to the City. The Developer shall be permitted to use the proceeds of the annual incentive payments to pay, or reimburse the Developer for, any and all hard and soft costs of the Project. The City shall make the annual incentive payments to Developer or Developer’s assignee on the first day of November each year commencing with the first day of November after the EAV has been determined and the initial Incremental Property Tax Revenue distribution has been received by the City and continuing thereafter through and including 2038 (Incremental Property Tax Revenue received for tax year 2037). The City shall keep an annual accounting of Incremental Property Tax Revenue generated at the Project Site and of the Annual Incentive Payments paid to the Developer. To the extent the Incremental Property Tax Revenues in a given year are insufficient to meet the full amount of the Annual Incentive Payments as set forth herein (the “Incentive Shortfall”), the Developer shall have the right to additional catch-up payments of Incremental Property Tax Revenues in future years (the “Catch-up Payments”) in the amount(s) of the Incentive Shortfall. The City shall only be required to make such Catch-up Payments from Incremental Property Tax Revenues generated at the Project Site above the amount of the Annual Incentive Payments (the “Excess Incremental Property Tax Revenues”), and shall not be required to make the Catch-up Payments from any other source. Further, in any year there are outstanding Incentive Shortfall amounts and there are available Excess Incremental Property Tax Revenues, the City shall be required to make Catch-up Payments.
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Incremental property tax revenue means the total amount of property tax revenue increase or decrease computed from the assessed valuation over the Base Property Tax Year. [reference Revenue and Taxation Code Section 96.5]
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Incremental property tax revenue means the real estate tax revenue actually received by the City during a given Fiscal Year based upon the extension of the real estate tax levies against the Incremental EAV.
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Related to Incremental property tax revenue

  • Incremental property taxes means the taxes as provided in Iowa Code sections 403.19 and 260E.4. “Industry” means a business engaged in interstate or intrastate commerce for the purpose of manufacturing, processing, or assembling products, conducting research and development, or providing services in interstate commerce, but excludes retail, health, or professional services. An industry is a business engaged in activities described as eligible in the Act rather than the generic definition encompassing all businesses in the state doing the same activities. An industry is considered to be a single, corporate entity or operating subdivision. An industry which closes or substantially reduces its operation in one area of the state of Iowa and relocates substantially the same operation in another area of the state is not eligible for a project. This definition does not prohibit a business from expanding its operations in another area of the state provided that existing operations of a similar nature are not

  • Property tax increment means the amount obtained by:

  • Tax increment revenues means the amount of ad valorem property taxes and specific local taxes attributable to the application of the levy of all taxing jurisdictions upon the captured assessed value of real and personal property in the zone. Tax increment revenues do not include any of the following:

  • Tax Increment means the difference between:

  • Tax Revenues means the Personal Income Taxes and such other revenues, including Alternative Revenues (but excluding Building Aid), as the Authority may derive directly from the State from taxes imposed by the City or the State and collected by the State.

  • Real Estate Taxes means the ad valorem real estate taxes levied against the Property (and the improvements and fixtures located thereon), betterment assessments, special benefit taxes and special assessments levied or imposed against the Property, taxes levied or assessed on gross rentals payable by Tenant to the extent charged, assessed or imposed upon tenants in general which are based upon the rents payable under this Lease, any impact fees levied or assessed, whether or not billed by the taxing authority as a special benefit tax or a special assessment, all taxes levied or assessed on the Property that are in addition to or in lieu of taxes that are currently so assessed, and penalties and interest related to Real Estate Taxes if the applicable Real Estate Tax bills have been forwarded to Tenant in a timely manner; provided, however, that Real Estate Taxes shall not include any Excluded Taxes. “Excluded Taxes” shall mean, without limitation, Landlord’s income taxes, gift taxes, excess profit taxes, excise taxes, franchise taxes, estate, succession, inheritance and realty transfer taxes resulting from the transfer of any direct or indirect interest in the Property by Landlord unless such taxes replace Real Estate Taxes in the future (except as expressly set forth in the last sentence of this Section 4(a)), and any interest or penalty charges resulting solely from Landlord’s failure to promptly deliver the Real Estate Tax bills to Tenant if the applicable taxing authority has forwarded the tax xxxx to Landlord rather than Tenant. All special benefit taxes and special assessments shall be amortized over the longest time permitted under ordinance and Tenant’s liability for installments of such special benefit taxes and special assessments not yet due shall be paid in full prior to the expiration or termination of this Lease; provided, that the useful life of any such improvements do not extend beyond the expiration of the Term. Tenant shall also pay, directly to the applicable Governmental Authority (as hereinafter defined), any storm water charges, fees and taxes and use and occupancy tax in connection with the Property or any improvements thereon (or in the event Landlord is required by law to collect such tax, Tenant shall pay such use and occupancy tax to Landlord as Rent within thirty (30) days of written demand and Landlord shall remit any amounts so paid to Landlord to the appropriate Governmental Authority in a timely fashion) and deliver evidence of such payment to Tenant within ten (10) days of making such payment or within ten (10) days of receipt of Tenant’s request for such evidence of payment.

  • Property Taxes means all real property Taxes, personal property Taxes and similar ad valorem Taxes.

  • Total Project Costs means the total amount of money required to complete the Project.

  • Property Tax means the general property tax due and paid as set