Initial Equalized Assessed Value definition

Initial Equalized Assessed Value means the total initial equalized assessed value of the taxable real property in the Project Area as determined by the County Clerk in accordance with Section 11-74.4-9 of the TIF Act.
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Initial Equalized Assessed Value means the equalized assessed value of each taxable lot, block, tract or parcel of real property within the Area as last equalized or assessed by the Department of Revenue of the State of Illinois for State and County taxes for the year 1993, all as determined by the County Clerk of The County of Xxxx, Illinois, in accordance with the TIF Act.
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Examples of Initial Equalized Assessed Value in a sentence

  • Description of any agreements with the affected taxing districts: The Blue Springs R-IV School District will receive from the Special Allocation Fund, prior to payment of reimbursable project costs or obligations, a distribution of 10% of the School District's then existing mill levy multiplied by the annual increase in assessed value of real property within each Redevelopment Project Area over the Total Initial Equalized Assessed Value of real property within each Redevelopment Project Area.

  • According to the records of the County Assessor, the Total Initial Equalized Assessed Value of the Redevelopment Area in 2016 was $1,497,120.

  • Younger cohorts express more confidence than older cohorts, and those with more education also express more confidence.

  • Although the Ocean Front TIF District was implemented more than 10 years ago, due to the decline in property values in the years immediately following its implementation, the district has only now recovered asuch that its total value has reached the level of the Initial Equalized Assessed Value of the district at its formation.

  • Total Initial Equalized Assessed Value," that amount certified by the County Assessor as the total equalized assessed value of all taxable real property within a Redevelopment Project Area, determined by adding together the most recently ascertained equalized assessed value of each taxable lot, block, tract or parcel of real property within such Redevelopment Project Area immediately after a Redevelopment Project Ordinance approving the such Redevelopment Project Area has been approved by the City Council.

Related to Initial Equalized Assessed Value

  • Equalized assessed value means the assessed value of a property divided by the current average ratio of assessed to true value for the municipality in which the property is situated, as determined in accordance with sections 1, 5, and 6 of P.L.1973, c.123 (C.54:1-35a through C.54:1-35c).

  • Initial assessed value means the assessed value, as equalized, of all the taxable property within the boundaries of the development area at the time the resolution establishing the tax increment financing plan is approved as shown by the most recent assessment roll of the municipality for which equalization has been completed at the time the resolution is adopted. Property exempt from taxation at the time of the determination of the initial assessed value shall be included as zero. For the purpose of determining initial assessed value, property for which a specific local tax is paid in lieu of a property tax shall not be considered property that is exempt from taxation. The initial assessed value of property for which a specific tax was paid in lieu of a property tax shall be determined as provided in subdivision (w).

  • Anticipated county property tax revenue availability means the

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarial equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or Qualified Joint and Survivor Annuity) to which the Participant would be entitled under the terms of the Plan assuming:

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Annual Special Tax means the Special Tax actually levied in any Fiscal Year on any Assessor’s Parcel.

  • Benefit Amount shall have the meaning set forth in Section 20.12 hereof.

  • Base Year Value means the assessed value of eligible property January 1 preceding the execution of the agreement plus the agreed upon value of eligible property improvements made after January 1 but before the execution of the agreement.

  • County-adjusted property tax base per square mile means the county-adjusted property tax base divided by the number of square miles of land area in the county.

  • Assessed value means 1 of the following:

  • Property tax increment means the amount obtained by:

  • Net Earned Premium as used herein is defined as gross earned premium of the Company for the classes of business reinsured hereunder, less the earned portion of premiums ceded by the Company for reinsurance which inures to the benefit of this Contract and less dividends paid or accrued.

  • 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

  • Final Average Compensation means the aggregate amount of a member's compensation earned within the averaging period in which the aggregate amount of compensation was highest divided by the member's number of years, including any fraction of a year, of credited service during the averaging period. The averaging period shall be 36 consecutive calendar months if the member contributes to the member investment plan except for a member who contributes to the member investment plan and first became a member on or after July 1, 2010; otherwise, the averaging period shall be 60 consecutive calendar months. A member who contributes to the member investment plan and first became a member on or after July 1, 2010 shall also have an averaging period of 60 consecutive calendar months. If the member has less than 1 year of credited service in the averaging period, the number of consecutive calendar months in the averaging period shall be increased to the lowest number of consecutive calendar months that contains 1 year of credited service.

  • Monthly Earnings means your gross monthly income from your Employer, not including shift differential, in effect just prior to your date of disability. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.