Property subject to an escape assessment definition

Property subject to an escape assessment means any individual item of the assessee's property that was underassessed or not assessed at all when the assessor made the original assessment of the assessee's property, and which has not been previously equalized by an appeals board, regardless of whether the assessor actually makes or enrolls an escape assessment. Property is subject to an escape assessment even if the audit discloses an overassessment of another portion of an item of the property, and the amount of the underassessment could be offset completely by the amount of overassessment. If the audit discloses that any property was subject to an escape assessment, the assessor shall include that fact as a finding presented to the taxpayer as required by Rule 191. If no such finding is made by the assessor, the taxpayer may file an application and present evidence to the board of the existence and disclosure of property of material value subject to escape assessment. For purposes of this regulation only, "material value" means value of no less than 1 percent of the audited value of the taxpayer's trade fixtures and tangible personal property for the year under audit. If the board determines that property subject to escape assessment was disclosed as a result of an audit, the board shall permit the taxpayer's section 469 appeal.
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Property subject to an escape assessment means any individual item of the applicant’s property that was under assessed or not assessed at all when the assessor made the original assessment of the applicant's property, and which has not been previously equalized by an appeals board, regardless of whether the assessor actually makes or enrolls an escape assessment. Property is subject to an escape assessment even if the audit discloses an overassessment of another portion of an item of the property, and the amount of the
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Examples of Property subject to an escape assessment in a sentence

  • Property subject to an escape assessment means:…any individual item of the assessee's property that was underassessed or not assessed at all when the county assessor made the original assessment of the assessee's property, and which has not been previously equalized by an appeals board, regardless of whether the assessor actually makes or enrolls an escape assessment….64Property subject to an escape assessment in terms of "not assessed at all" is self-explanatory.

Related to Property subject to an escape assessment

  • Environmental Assessment means an assessment of the presence, storage or release of any hazardous or toxic substance, pollutant or contaminant with respect to the collateral securing a Shared-Loss Loan that has been fully or partially charged off.

  • Phase I Environmental Assessment A “Phase I assessment” as described in, and meeting the criteria of, the ASTM, plus a radon and asbestos inspection.

  • Flood Boundary and Floodway Map (FBFM means an official map of a community, issued by the FEMA, on which the Special Flood Hazard Areas and the floodways are delineated. This official map is a supplement to and shall be used in conjunction with the Flood Insurance Rate Map (FIRM).

  • Initial assessment means an assessment conducted prior to or at admission to determine whether the individual meets the service's admission criteria; what the individual's immediate service, health, and safety needs are; and whether the provider has the capability and staffing to provide the needed services.

  • Phase I means the first part of the tuition incentive assistance program defined as the academic period of 80 semester or 120 term credits, or less, leading to an associate degree or certificate.

  • Environmental Compliance Reserve means any reserve which the Agent establishes in its reasonable discretion after prior written notice to the Borrower from time to time for amounts that are reasonably likely to be expended by the Borrower in order for the Borrower and its operations and property (a) to comply with any notice from a Governmental Authority asserting material non-compliance with Environmental Laws, or (b) to correct any such material non-compliance identified in a report delivered to the Agent and the Lenders pursuant to Section 7.7.

  • Phase II means the second part of the tuition incentive assistance program which provides assistance in the third and fourth year of 4-year degree programs.

  • Phase I Report means, with respect to any Facility, a report that (i) conforms to the ASTM Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process, E 1527, (ii) was conducted no more than six months prior to the date such report is required to be delivered hereunder, by one or more environmental consulting firms reasonably satisfactory to Administrative Agent, (iii) includes an assessment of asbestos-containing materials at such Facility, (iv) is accompanied by (a) an estimate of the reasonable worst-case cost of investigating and remediating any Hazardous Materials Activity identified in the Phase I Report as giving rise to an actual or potential material violation of any Environmental Law or as presenting a material risk of giving rise to a material Environmental Claim, and (b) a current compliance audit setting forth an assessment of Holdings’, its Subsidiaries’ and such Facility’s current and past compliance with Environmental Laws and an estimate of the cost of rectifying any non-compliance with current Environmental Laws identified therein and the cost of compliance with reasonably anticipated future Environmental Laws identified therein.

  • Title V operating permit means a permit issued under Chapter 3745-77 of the Administrative Code.

  • Environmental Audit means, with respect to each Property, a Phase One environmental site assessment (the scope and performance of which meets or exceeds the then most current ASTM Standard Practice E1527 for Environmental Site Assessments: Phase One Environmental Site Assessment Process) of such Property.

  • Green Tag Reporting Rights means the right of a purchaser of renewable energy to report ownership of accumulated “green tags” in compliance with and to the extent permitted by applicable Law and include, without limitation, rights under Section 1605(b) of the Energy Policy Act of 1992, and any present or future federal, state or local certification program or emissions trading program, including pursuant to the WREGIS Operating Rules.

  • These courses also satisfy an MTA area Communication: COM 225; Natural Science: ENV 101, 105; Humanities: ART 143, 150; COM 225; XXX 180; DRA 180; ENG 181, 213, 214, 224, 242; HUM 150, 175, 221; MUS 180; Social Science: ANT 201; ECO 280; GEO 101; HST 123, 150, 210, 230, 235, 240, 270; PLS 211; PSY 107, 251, 270; SOC 205, 216. These courses apply, but do not satisfy the MTA: CCP 251 WCC Retail Management Required Courses (21 credits) 1 BMG 230 Management Skills ......................................................3 MGMT 000 Management Minor Elective 3 1 BMG 273 Managing Operations..................................................3 MGMT 000 Management Minor Elective 3 Additional Retail Management Requirements ............................15 University Electives 15 (BMG 205, 206, 228, 275, 295) Retail Management Restricted Electives (12 credits) The following recommended courses apply to the Core Business Skills Certificate. Students may also choose courses toward other WCC certificates. 1,2 ACC 111 Principles of Accounting I (Restricted Elective)...........3 ACC 240 MGMT or MKTG Minor 3 BMG 111 Business Law I (Restricted Elective)...........................3 LAW 293 University Elective 3 1 BMG 140 Introduction to Business (Restricted Elective).............3 COB 000 MGMT Minor 3 1,2 BMG 207 Business Communication (Restricted Elective) ............3 MGMT 202 MGMT or MKTG Minor 3 EMU Requirements that may be taken at WCC or EMU (10 credits) 3 Open Elective Credits .................................................................10 University Electives 10

  • Data Protection Impact Assessment means an assessment by the Controller of the impact of the envisaged processing on the protection of Personal Data.

  • Normal Operating Conditions means those Service conditions which are within the control of Grantee. Those conditions which are not within the control of Grantee include, but are not limited to, natural disasters, civil disturbances, power outages, telephone network outages, and severe or unusual weather conditions. Those conditions which are ordinarily within the control of Grantee include, but are not limited to, special promotions, pay-per-view events, rate increases, regular peak or seasonal demand periods, and maintenance or upgrade of the Cable System.