Incremental property taxes definition

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

Incremental property taxes means the taxes as provided in sections 403.19 and 260E.4.

Incremental property taxes means, net of all amounts required by operation of the TIF Act to be paid to other taxing districts, including as surplus, in each calendar year during the term of this Agreement, the portion of the ad valorem real estate taxes arising from levies upon the Redevelopment Project Area by taxing districts that is attributable to the increase in the equalized assessed value of each taxable lot, block, tract or parcel of real estate within the Redevelopment Project Area over the equalized assessed value of each taxable lot, block, tract or parcel of real estate within the Redevelopment Project Area which, pursuant to the TIF Ordinances and Section 5/11-74.4-8(b) of the TIF Act, will be allocated to and when collected shall be paid to the City Comptroller for deposit by the City Comptroller into the Fund established to pay Eligible Redevelopment Project Costs and other redevelopment project costs as authorized under Section 5/11-74.4-3(q) of the TIF Act.

Examples of Incremental property taxes in a sentence

• The City hereby disclaims any and all warranties with respect to the Private Development, express or implied, including, without limitation, any implied warranty of fitness for a particular purpose or merchantability or sufficiency of the Incremental Property Taxes for the purposes of this Agreement.

• Anything herein to the contrary notwithstanding, the Developer agrees that the City may, to the extent permitted by law, use any Incremental Property Taxes, including any unpaid Reimbursement Amounts, if available, to be redirected to reimburse the City for its defense costs, including without limitation attorneys’ fees and expenses.

• The City and the Developer agree that the Eligible Costs constituting the Reimbursement Amounts shall be paid solely, and to the extent available, from Incremental Property Taxes attributable to the Private Development within the Development Area that are deposited in the Fund and not otherwise.

• The City pledges to the payment of its obligations hereunder only such amount of the Incremental Property Taxes attributable to the Private Development in the Development Area as is set forth in Section 3.1(a) hereof, if, as and when received, and not otherwise.

• Nothing has come to the attention of the Developer to question the assumptions or conclusions or other terms and provisions of any projections of Incremental Property Taxes, and the Developer assumes all risks in connection with the practical realization of any such projections of Incremental Property Taxes.

More Definitions of Incremental property taxes

Incremental property taxes means in each calendar year during the term of this Agreement, the portion of the ad valorem real estate taxes arising from levies upon taxable real property in the Redevelopment Project Area by taxing districts that is attributable to the increase in the equalized assessed value of the taxable real property in the Redevelopment Project Area over the equalized assessed value of the taxable real property in the Redevelopment Project Area as of January 1, 1986 which, pursuant to the TIF Ordinances and Section 5/11-74.4-8(b) of the TIF Act, has been allocated to and when collected shall be paid to the Treasurer of the City for deposit by the Treasurer into the Fund established to pay Eligible Redevelopment Project Costs and other redevelopment project costs as authorized under Section 5/11-74.4-3(q) of the TIF Act.

Incremental property taxes means those incremental real property taxes derived from the Redevelopment Project Area under Section 5/11-74.4-8 of the Act.

Incremental property taxes means incremental property taxes, as defined in Section 260E.4 of the Act, to be received or derived from Employer's Taxable Business Property where new jobs are created as a result of the Project.

Incremental property taxes means that portion of the ad valorem real estate taxes, if any, arising from the taxes levied upon equalized assessed valuation (“EAV”) which taxes are actually collected and paid to the City, and which are attributable to the increase in the EAV of the TIF District over and above the EAV of the TIF District in question at the time of the formation of the TIF District,

Incremental property taxes means in each calendar year during the term of this Agreement, the portion of the ad valorem real estate taxes arising from levies upon taxable real

Incremental property taxes means the ad valorem taxes, if any, arising from the taxes levied upon the Property, which taxes are attributable to the increases in the then current equalized assessed valuation (“EAV”) of each taxable lot, block, tract or parcel comprising the Property over and above the total Initial EAV of each such lot, block, tract or parcel of real property as it was assessed by the County Clerk in 2007, pursuant to and in accordance with the Act, the TIF Ordinances and this Redevelopment Agreement, and includes any replacement or amended taxes, subject to the determination thereof on a “per parcel” or a “per area” basis under applicable law.

Incremental property taxes means, as to the East Irving Park Road Redevelopment Project Area or the Irving-Central Redevelopment Project Area, the ad valorem taxes, if any, arising from the tax levies upon taxable real property in the respective Redevelopment Project Area by any and all taxing districts or municipal corporations having the power to tax real property in the respective Redevelopment Project Area, which taxes are attributable to the increase in the then current equalized assessed valuation of each taxable lot, block, tract or parcel of real property in the respective Redevelopment Project Area over and above the Total Initial Equalized Assessed Value of each such piece of property in the respective Redevelopment Project Area, all as determined by the DuPage County Clerk in accord with Section 11-74.4-9 of the TIF Act.