Property tax allocation definition

Property tax allocation means the difference between:
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Property tax allocation means the same as that term is defined in Section 63H-1-102.
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Property tax allocation means the difference between: 1002 (a) the amount of property tax revenues generated each tax year by all taxing entities 1003 from the area within a project area designated in the project area plan as the area from which 1004 the property tax allocation is to be collected, using the current assessed value of the property; 1005 and 1006 (b) the amount of property tax revenues that would be generated from that same area 1007 using the base taxable value of the property. 1008 [(20)] (21) "Public entity" means: 1009 (a) the state, including each department or agency of the state; or 1010 (b) a political subdivision of the state, including a county, city, town, school district, 1011 local district, special service district, or interlocal cooperation entity. 1012 [(21)] (22) (a) "Publicly owned infrastructure and improvements" means infrastructure, 1013 improvements, facilities, or buildings that benefit the public and are: 1014 (i) publicly owned by the military, the authority, or another public entity; 1015 (ii) owned by a utility; or 1016 (iii) publicly maintained or operated by the military, the authority, or another public 1017 entity. 1018 (b) "Publicly owned infrastructure and improvements" includes: 1019 (i) facilities, lines, or systems that provide water, chilled water, steam, sewer, storm 1020 drainage, natural gas, electricity, or telecommunications; and 1021 (ii) streets, roads, curb, gutter, sidewalk, walkways, solid waste facilities, parking 1022 facilities, and public transportation facilities. 1023 [(22)] (23) "Remaining municipal services revenue" means municipal services revenue 1024 that the authority has not: 1025 (a) spent during [its] the authority's fiscal year for municipal services as provided in 1026 Subsection 63H-1-503(1)[.]; or 1027 (b) redirected to use in accordance with Subsection 63H-1-502(3).
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Examples of Property tax allocation in a sentence

  • MIDA and the District covenant that any portion of the Property Tax Allocation available to be disbursed to the District in accordance with clause SIXTH of Section 3.05 [or Section 3.07(f)] of the Indenture shall be applied in accordance with the Tax Sharing Agreement or as otherwise permitted by law.


More Definitions of Property tax allocation

Property tax allocation means the difference between: 1335 (a) the amount of property tax revenues generated each tax year by all taxing entities 1336 from the area within a project area designated in the project area plan as the area from which 1337 the property tax allocation is to be collected, using the current assessed value of the property; 1338 and 1339 (b) the amount of property tax revenues that would be generated from that same area 1340 using the base taxable value of the property. 1341 (21) "Public entity" means: 1342 (a) the state, including each department or agency of the state; or 1343 (b) a political subdivision of the state, including a county, city, town, school district, 1344 local district, special service district, or interlocal cooperation entity. 1345 (22) (a) "Publicly owned infrastructure and improvements" means infrastructure, 1346 improvements, facilities, or buildings that benefit the public, the authority, the military, or 1347 military-related entities and are: 1348 (i) publicly owned by the military, the authority, a public infrastructure district under 1349 [T itle 17B, Chapter 2a, Part 12] T itle 17D, Chapter 4, Public Infrastructure District Act, or 1350 another public entity; 1351 (ii) owned by a utility; or 1352 (iii) publicly maintained or operated by the military, the authority, or another public 1353 entity. 1354 (b) "Publicly owned infrastructure and improvements" includes: 1355 (i) facilities, lines, or systems that harness geothermal energy or provide water, chilled 1356 water, steam, sewer, storm drainage, natural gas, electricity, or telecommunications; 1357 (ii) streets, roads, curb, gutter, sidewalk, walkways, solid waste facilities, parking 1358 facilities, public transportation facilities, and parks, trails, and other recreational facilities; 1359 (iii) snowmaking equipment and related improvements that can also be used for water 1360 storage or fire suppression purposes; and 1361 (iv) a building and related improvements for occupancy by the public, the authority, the 1362 military, or military-related entities. 1363 (23) "Remaining municipal services revenue" means municipal services revenue that 1364 the authority has not:
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Property tax allocation means the difference between: 424 (a) the amount of property tax revenues generated each tax year by all taxing entities 425 from the area within a project area designated in the project area plan as the area from which 426 the property tax allocation is to be collected, using the current assessed value of the property; 427 and 428 (b) the amount of property tax revenues that would be generated from that same area 429 using the base taxable value of the property. 430 (22) "Public entity" means: 431 (a) the state, including each department or agency of the state; or 432 (b) a political subdivision of the state, including the authority or a county, city, town, 433 school district, special district, special service district, or interlocal cooperation entity. 434 (23) (a) " Public infrastructure and improvements" means infrastructure, 435 improvements, facilities, or buildings that: 436 (i) benefit the public, the authority, the military, or military-related entities; and 437 (ii) (A) are publicly owned by the military, the authority, a public infrastructure district 438 under Title 17D, Chapter 4, Public Infrastructure District Act, or another public entity; 439
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Property tax allocation means 75% of the Incremental Property Taxes.
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Related to Property tax allocation

  • Property Tax means the general property tax due and paid as set

  • Property Taxes means all real property Taxes, personal property Taxes and similar ad valorem Taxes.

  • Property tax increment means the amount obtained by:

  • Tax Expenses means all federal, state, county, or local governmental or municipal taxes, fees, charges or other impositions of every kind and nature, whether general, special, ordinary or extraordinary, (including, without limitation, real estate taxes, general and special assessments, transit taxes, leasehold taxes or taxes based upon the receipt of rent, including gross receipts or sales taxes applicable to the receipt of rent, unless required to be paid by Tenant, personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems and equipment, appurtenances, furniture and other personal property used in connection with the Project, or any portion thereof), which shall be paid or accrued during any Expense Year (without regard to any different fiscal year used by such governmental or municipal authority) because of or in connection with the ownership, leasing and operation of the Project, or any portion thereof.

  • Final Allocation has the meaning set forth in Section 2.3.

  • Real Property Tax As used herein, the term "real property tax" shall include any form of real estate tax or assessment, general, special, ordinary or extraordinary, and any license fee, commercial rental tax, improvement bond or bonds, levy or tax (other than inheritance, personal income or estate taxes) imposed on the Premises by any authority having the direct or indirect power to tax, including any city, state or federal government, or any school, agricultural, sanitary, fire, street, drainage or other improvement district thereof, as against any legal or equitable interest of Lessor in the Premises or in the real property of which the Premises are a part, as against Lessor's right to rent or other income therefrom, and as against Lessor's business of leasing the Premises. The term "real property tax" shall also include any tax, fee, levy, assessment or charge (i) in substitution of, partially or totally, any tax, fee, levy, assessment or charge hereinabove included within the definition of "real property tax," or (ii) the nature of which was hereinbefore included within the definition of "real property tax," or (iii) which is imposed for a service or right not charged prior to June 1, 1978, or, if previously charged, has been increased since June 1, 1978, or (iv) which is imposed as a result of a transfer, either partial or total, of Lessor's interest in the Premises or which is added to a tax or charge hereinbefore included within the definition of real property tax by reason of such transfer, or (v) which is imposed by reason of this transaction, any modifications or changes hereto, or any transfers hereof.

  • Curative Allocation means any allocation of an item of income, gain, deduction, loss or credit pursuant to the provisions of Section 6.1(d)(ix).

  • Initial Allocation means the conditional setting aside by MBOH of HCs from a particular year’s federal LIHTC allocation to the state for purposes of later Carryover Commitment and/or Final Allocation to a particular Project, as documented by and subject to the requirements and conditions set forth in a written Reservation Agreement, the Applicable QAP and federal law.

  • Tax Year means a period beginning with 6th April in one year and ending with 5th April in the next;

  • 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

  • Allocation Area means that part of a redevelopment project area to which an allocation provision of a declaratory resolution adopted under section 15 of this chapter refers for purposes of distribution and allocation of property taxes.

  • Agreed Allocation means any allocation, other than a Required Allocation, of an item of income, gain, loss or deduction pursuant to the provisions of Section 6.1, including a Curative Allocation (if appropriate to the context in which the term “Agreed Allocation” is used).

  • Base Tax Year means the property tax levy year used

  • Required Allocations means any allocation of an item of income, gain, loss or deduction pursuant to Section 6.1(d)(i), Section 6.1(d)(ii), Section 6.1(d)(iv), Section 6.1(d)(v), Section 6.1(d)(vi), Section 6.1(d)(vii) or Section 6.1(d)(ix).

  • conditional allocation ’ means an allocation to a province or municipality from the national government’s share of revenue raised nationally, envisaged in section 214(1)(c) of the Constitution, as set out in Schedule 4, 5, 6 or 7;