Municipal Tax Increment definition

Municipal Tax Increment means the difference derived from the following calculation for all Eligible Development:
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Municipal Tax Increment means that portion of all real and personal property taxes assessed by a municipality, apart from any state, county or special district tax, upon the captured assessed value of property in a development district.
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Municipal Tax Increment means the difference derived from the following calculation:
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Examples of Municipal Tax Increment in a sentence

  • The amount of each subsequent grant is equivalent to the Municipal Tax Increment (MTI) for the year in which payment is to be made.

  • Development Grants are funded from a portion of the Municipal Tax Increment.

  • The first component of the Development Grants will be based on the Municipal Tax Increment arising from the increased assessment on the first portion of the development.

  • The assistance will take the form of a cancellation of a portion of the Municipal Tax Increment payable following the remediation and development of the site.

  • For further clarity, Brownfield Remediation Tax Assistance will not exceed the Municipal Tax Increment in any given year.

  • The Municipal Tax Increment to be cancelled will not exceed the property owner’s eligible remediation costs minus any other City or external grants that provide money for brownfield remediation.

  • The grants will be funded from a portion of the Municipal Tax Increment, by way of a tax increment equivalent grant (TIEG).

  • As other portions of the property are developed, and which result in further assessment increases, the property owner may apply for additional Development Grants based on the additional Municipal Tax Increment, subject to the continued availability of the incentive program and the eligibility requirements and grant entitlements in place at that time.

  • The Brownfields Remediation Tax Assistance will be provided in the form of a cancellation of all or a portion of the Municipal Tax Increment.

  • The financial assistance will be determined based on the Municipal Tax Increment following development for employment uses.


More Definitions of Municipal Tax Increment

Municipal Tax Increment means the difference derived from the following calculation for all Eligible Development: Destination Municipal CVA Taxes ( - ) Base Municipal CVA Taxes In calculating the Tax Assistance available for Eligible Development, the Municipal Tax Increment shall be calculated in the first year that the subject Assistance is payable, and shall remain fixed for the duration of the Development Period, subject to the provisions for adjustment as set out in the Financial Incentives Agreement;
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Related to Municipal Tax Increment

  • Tax Increment means the difference between:

  • Property tax increment means the amount obtained by:

  • Tax Increment District or "district" means that area to which the tax increment finance plan pertains.

  • municipal tax means property rates or other taxes, levies or duties that a municipality may impose;

  • Tax Increase means that portion of the annual real estate taxes assessed against the Premises (or the Entire Premise, if applicable), as calculated immediately following the Reassessment, that is attributable solely to the Reassessment. Accordingly, a Tax Increase shall not include any portion of the real estate taxes, as calculated immediately following the Reassessment, that is:

  • 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:

  • 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

  • Available Tax Increment means the Gross Tax Increment received by the City from Hennepin County during the period preceding each semi-annual Payment Date, less (i) the amount of tax increment, if any, which the City must pay to the school district, the county and the state pursuant to Minnesota Statutes, Sections 469.177, Subds. 9 and 11; 469.176, Subd. 4h; and 469.175, Subd. 1a, as the same may be amended from time to time, (ii) actual administrative costs of the City in an amount not to exceed 10% of Gross Tax Increment.

  • Estimated Incremental Quarterly Tax Amount has the meaning assigned to such term in Section 6.9.

  • Tax increment financing acts means 1975 PA 197, MCL 125.1651 to 125.1681, the tax increment finance authority act, 1980 PA 450, MCL 125.1801 to 125.1830, the local development financing act, 1986 PA 281, MCL 125.2151 to 125.2174, the brownfield redevelopment financing act, 1996 PA 381, MCL 125.2651 to 125.2672, or the corridor improvement authority act, 2005 PA 280, MCL 125.2871 to 125.2899.

  • MUNICIPAL TAXABLE INCOME means the following:

  • Scan increment means the amount of relative displacement of the patient with respect to the CT x-ray system between successive scans measured along the direction of such displacement.

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

  • Specific local tax means a tax levied under 1974 PA 198, MCL 207.551 to 207.572, the commercial redevelopment act, 1978 PA 255, MCL 207.651 to 207.668, the technology park development act, 1984 PA 385, MCL 207.701 to 207.718, and 1953 PA 189, MCL 211.181 to 211.182. The initial assessed value or current assessed value of property subject to a specific local tax shall be the quotient of the specific local tax paid divided by the ad valorem millage rate. However, after 1993, the state tax commission shall prescribe the method for calculating the initial assessed value and current assessed value of property for which a specific local tax was paid in lieu of a property tax.

  • Final Tax Amount has the meaning set forth in Section 4.01(b)(ii).

  • Additional Tax means in addition to Restaurant Tax. (C) “Additional Tax” means in addition to Commercial Lease. Review each City/Town for tax on Food for Home Consumption. (B) If you report under Hotel (Business code 044), this city has an Additional Hotel tax rate that must be applied and reported (Business Code 144). (D) Report amount due on materials purchased exempt from tax and incorporated into a Maintenance, Repair, Replacement or Alteration (MRRA) project. (E) When reporting for Short Term Motor Vehicle you must report Business Code 214 and 114 for this City.

  • Special Tax means the special tax to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property to fund the Special Tax Requirement.

  • Increment means twelve (12) months of service credit which are purchased. The

  • Assigned Annual Special Tax means the Special Tax of that name described in Section D.

  • Local taxes means all taxes levied other than taxes levied for school operating purposes.

  • Recovered tax increment value means, except as otherwise

  • Municipal tariff means a tariff for services which a municipality may set for the provision of a service to the local community, and includes a surcharge on such tariff;

  • Special Taxes means any and all present or future taxes, levies, imposts, deductions, charges or withholdings, or any liabilities with respect thereto, including those arising after the date hereof as result of the adoption of or any change in law, treaty, rule, regulation, guideline or determination of a Governmental Authority or any change in the interpretation or application thereof by a Governmental Authority but excluding, in the case of Lender, such taxes (including income taxes, franchise taxes and branch profit taxes) as are imposed on or measured by Lender’s net income by the United States of America or any Governmental Authority of the jurisdiction under the laws under which Lender is organized or maintains a lending office.

  • Maximum Special Tax means the maximum Special Tax, determined in accordance with Section C below, that can be levied in any Fiscal Year on any Assessor’s Parcel.

  • 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.

  • Anticipated county property tax revenue availability means the