Incremental Real Property Taxes definition

Incremental Real Property Taxes means that amount of Real Property Taxes collected from within the TIF District that exceeds the amount of Real Property Taxes collected from the Base Year Assessed Valuation of the real property within the TIF District. For purposes hereof, the term "Base Year Assessed Valuation" means the $107,391 assessed valuation of all real property within the boundaries of the TIF District on the date of publication of the TIF District Ordinance.

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Incremental Real Property Taxes means that amount of Real Property Taxes collected from the real property within Project Area 1 of the TIF District that is in excess of the amount of Real Property Taxes collected from the Base Year Assessed Valuation of the real property within Project Area 1 of the TIF District, as described in Section 4.2(a)(i).

Incremental Real Property Taxes means the incremental increase in ad valorem real property taxes generated within the District above the ad valorem real property taxes generated by levy on the January 1, 2014 taxable valuation of the Redevelopment Project Area and available under the Act, received by the City from ▇▇▇▇▇▇▇ County, Kansas.

Examples of Incremental Real Property Taxes in a sentence

At the end of the TIF Collection Period, the parties understand and agree that the Developer shall have no further access to such Incremental Real Property Taxes to reimburse or pay for TIF Eligible Expenses.
As and when there are sufficient TIF Proceeds to pay the TIF Administrative Fee, the TIF Administrative Fee shall have first priority to available Incremental Real Property Taxes.
The TIF Administrative Fee shall be due and payable on the date the Incremental Real Property Taxes are received by the UG.
A portion of the Incremental Real Property Taxes shall be used to pay an administrative fee in an amount equal to 1% of such Incremental Real Property Taxes (the "TIF Administrative Fee").
For a period of twenty (20) years from the approval of the Project Plan, the UG shall collect Incremental Real Property Taxes as set forth below, unless the TIF District shall be earlier terminated pursuant to the express terms of this Agreement.
The revenues received from the Incremental Real Property Taxes, less the TIF Administrative Fee (defined below in Section 4.2(d)), constitute the "TIF Proceeds".
Subject to the terms and conditions of this Agreement and the TIF District Ordinance, the UG hereby agrees that the TIF Eligible Expenses may be financed and reimbursed with TIF Financing (defined below in Section 4.2(b)) from the Incremental Real Property Taxes collected within The Project Area of the TIF District.
The Incremental Real Property Taxes shall be collected within the TIF District for a period that commences on the date that the Project Plan is approved by the UG's Board of Commissioners up to and concluding upon that date which is the earlier of (x) the date that Developer has been reimbursed for all TIF Eligible Expenses in an amount equal to the TIF Cap, or (y) twenty (20) years from the date that the Project Plan was approved (the "TIF Collection Period").
During the TIF Collection Period (defined below in Section 4.2(b)(i)), all Incremental Real Property Taxes generated within the TIF District shall be deposited into a separate fund (the "TIF Fund"), which shall be established and administered by the UG in compliance with this Agreement and all Applicable Laws and Requirements.
The parties hereby understand and agree that 100% of the Incremental Real Property Taxes from the TIF District shall be available to Developer for Eligible TIF Expenses, subject to the TIF Cap.

More Definitions of Incremental Real Property Taxes

Incremental Real Property Taxes means the amount of real property taxes that is in excess of the amount of real property taxes which is collected from the base year assessed valuation, i.e., the 1994 assessed valuation of $241,255, for the Project Area, all in accordance with the TIF Act, and that is collected by the City following the later of the date the Company receives title to the Project Area or the Project Plan Effective Date from real property located within the Project Area.

Incremental Real Property Taxes means that amount of Real Property Taxes collected from the real property within the Schoolyard Townhomes RHID that is in excess of the amount of Real Property Taxes collected from the Base Year Assessed Valuation of the real property within the Schoolyard Townhomes RHID as determined in accordance with the RHID Act, as described in Section 4.2(a)(i).