Payment in lieu of taxes means those estimated tax revenues from real property in a redevelopment project area derived from real property that has been acquired by a municipality which according to the redevelopment project or plan is to be used for a private use which taxing districts would have received had a municipality not acquired the real property and adopted tax increment allocation financing and which would result from levies made after the time of the adoption of tax increment allocation financing to the time the current equalized value of real property in the redevelopment project area exceeds the total initial equalized value of real property in said area.

Payment in lieu of taxes means those estimated tax

Payment in lieu of taxes means an amount referred to in subparagraph 24 ii of subsection 3 (1) of the Assessment Act, taxes for municipal and school purposes payable by a designated electricity utility within the meaning of section 19.0.1 of the Assessment Act or by a corporation referred to in clause (d) of the definition of “municipal electricity utility” in section 88 of the Electricity Act, 1998 or an amount that a local municipality receives under,

Examples of Payment in lieu of taxes in a sentence

Notwithstanding the foregoing or any provision to the contraiy contained herein, no Payment in Lieu of Taxes shall be made with respect to the Phase Two Parcel in the event that the Phase Two Parcel is reconveyed to the City in accordance with Section 12.8 ofthe DRA.
Payments in Lieu of Taxes shall be deposited into the Special Allocation Fund and recorded into the Payment in Lieu of Taxes Account within the Special Allocation Fund.
The Tenant agrees to make payments in lieu of taxes on the Project for each year that the Project is exempt from ad valorem taxes and to pay as an Imposition hereunder taxes for any year in which the Project did not, or does not qualify, in accordance with the separate Agreement for Payment in Lieu of Taxes delivered concurrently with this Project Lease.
It is anticipated that the only ad valorem taxes and assessments that may be paid by the Lessee relating to the Leased Premises will be controlled by the Payment in Lieu of Taxes Agreement dated , 20 (the “PILOT Agreement”).
The Annual Utility Basis Revenue Requirements shall include the following components, each of which is described herein: • Direct Operation, Maintenance and Repair Costs; • Administrative and Indirect Operating Costs; • Payment in Lieu of Taxes (“PILOT”); • Depreciation Expense; • Return on Rate Base (expressed in dollars).

More Definitions of Payment in lieu of taxes

Payment in lieu of taxes means one or more payments made to the county at the times and in the amounts as the county, and entity or entities which will initially make the payment in lieu of taxes, may agree, pursuant to a transfer of title to the property which is subject to such payments to the county, and a lease of the property by the county to the entity or entities which will initially make such payments.

Payment in lieu of taxes means those estimated revenues from real property and

Payment in lieu of taxes means an amount that a local municipality is eligible to receive in lieu of taxes in a year in respect of real property that is exempt from taxation under the Assessment Act, where the amount is equal to the taxes for municipal or for municipal and school purposes that would have been payable in respect of that real property in that year if the real property had been taxable. 2017, c. 10, Sched. 1, s. 49.

Payment in lieu of taxes means a payment with respect to real and personal property located in a development or redevelopment district and owned in title by this state, a political subdivision of this state or an agency or instrumentality thereof, that is made by the lessee of such property pursuant to a written payment in lieu of taxes agreement, whether in effect as of, or subsequent to, the date of creation of the development or redevelopment district.

Payment in lieu of taxes or “PILOT” means a payment made by Owner to the County described in Paragraph IV(F) of this Agreement.

Payment in lieu of taxes means a payment with respect to real and personal property

Payment in lieu of taxes means those estimated revenues from real property and tangible personal property having a tax situs in the area selected for a development or redevelopment project which revenues, according to the development or redevelopment project or plan, are to be used for a private use, which levying bodies would have received had a county or municipality not adopted one or more tax increment financing plans and which would result from levies made after the date of adoption of a tax increment financing plan during the time the current assessed value of all taxable real and tangible personal property in the area selected for the development or redevelopment project exceeds the total base assessed value of all taxable real and tangible personal property in the development or redevelopment district until the designation is terminated as provided in this article a payment with respect to real and personal property located in a development or redevelopment district and owned in title by this state, a political subdivision of this state or an agency or instrumentality thereof, that is made by the lessee of such property pursuant to a written payment in lieu of taxes agreement, whether in effect as of, or subsequent to, the date of creation of the development or redevelopment district.