Payments in Lieu of Taxes definition

Payments in Lieu of Taxes means the payments to be made by the Company pursuant to Section 5.1 of this Fee Agreement.

Payments in Lieu of Taxes means those payments in lieu of taxes (as defined in Sections 99.805 and 99.845 of the Act) attributable to the increase in the current equalized assessed valuation of all taxable lots, blocks, tracts and parcels of real property in the Redevelopment Area over and above the certified total initial equalized assessed valuation of the real property in the Redevelopment Area, as provided for by Section 99.855 of the Act.

Payments in Lieu of Taxes means such payments as the Port Authority has agreed to pay the City of New York under an agreement dated 1967 as it may have been or may be hereafter supplemented or amended (hereinafter called "the City Agreement").

Examples of Payments in Lieu of Taxes in a sentence

• Payments in Lieu of Taxes (PILOT) – payments made to local government(s) to compensate for some or all of the tax revenue lost as a result of tax-exempt ownership or use of land or property.

• Describe the degree to which the operation of the Bid Facility will provide new or increased local property tax revenues to school districts, cities, towns or other taxing jurisdictions in New York, or alternatively, Payments in Lieu of Taxes (PILOT) or other alternative taxing mechanisms and forms of compensation.

• Payments in Lieu of Taxes shall be due November 30 of each year in which said amount is required to be paid and will be considered delinquent if not paid by December 31 of each such year or as otherwise determined by applicable law.

• Documentation in the form of a certificate signed under penalty of false statement by a chief executive officer, president, chairperson, member, or other corporate officer duly authorized to adopt corporate, company, or partnership policy that certifies the PILOT Recipient complies with the non-discrimination requirements under the Payments in Lieu of Taxes (“PILOT”) Program.

• Payments-in-Lieu of Development ChargesThe GTAA is not required to pay development charges to the City of Mississauga, the Regional Municipality of Peel (“Peel Region”) or the City of Toronto with respect to development at the Airport, but rather pays a payments‐in‐lieu of development charges (“PILDC”) in accordance with the Payments in Lieu of Taxes Act (Canada).

More Definitions of Payments in Lieu of Taxes

Payments in Lieu of Taxes or “PILOTS” shall have the meaning ascribed to such term in Section 99.805 of the TIF Act.

Payments in Lieu of Taxes or “PILOTS” means those payments in lieu of taxes (as defined in Sections 99.805 and 99.845 of the TIF Act), if any, attributable to the increase in the current equalized assessed valuation of all taxable lots, blocks, tracts and parcels of real property in RPA-1 of the Redevelopment Area over and above the certified total initial equalized assessed valuation of the real property in the Redevelopment Area, as provided for by Section 99.845 of the TIF Act. Pursuant to Section 99.845 of the Revised Statutes of Missouri, as amended, beginning on August 28, 2014, if the voters in a taxing district (as defined in the TIF Act) vote to approve an increase in the taxing district’s levy rate for ad valorem tax on real property, any additional revenues generated within RPA-1 that are directly attributable to the newly voter-approved incremental increase in the taxing district’s levy rate shall not be considered “Payments in Lieu of Taxes” or “PILOTS” without the consent of the taxing district.

Payments in Lieu of Taxes means, if the Project Facility Agreements include a payment in lieu of tax agreement, the payments in lieu of taxes payable under the Payment in Lieu of Tax Agreement, as summarized on Exhibit J attached hereto.

Payments in Lieu of Taxes means any amount negotiated separately from rent that offsets the loss of property tax revenue associated with the exemption of the freehold or fee simple interest of the corporation;

Payments in Lieu of Taxes means, when collected by the City, the payments in lieu of taxes attributable to the increase in the current equalized assessed valuation of each taxable lot, block, tract, or parcel of real property in the Redevelopment Area over and above the certified total initial equalized assessed value of each such unit of property in the Redevelopment Area on the date that tax increment financing was adopted for such lot, block tract or parcel, all as determined in accordance with the Act.

Payments in Lieu of Taxes means any payment made to any agency, or affected tax jurisdiction equal to the amount, or a portion of, real property taxes, or other taxes, which would have been levied by or on behalf of an affected tax jurisdiction if the project was not tax exempt by reason of agency involvement.

Payments in Lieu of Taxes means payments required to be made by the Developer to the City pursuant to the provisions of Section 18 of this Agreement to the extent that Property Tax Increment Revenues generated by the Project are not credited to the Special Fund in each year in an amount at least equal to the Minimum Property Tax Increment Revenues.