Property tax reduction definition

Property tax reduction means the difference between the amount of property tax paid or payable on any qualified real rental property in the base year, and the amount of property taxes paid or payable in the current year if less than the amount of property taxes paid or payable in the base year.
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Property tax reduction means the difference between the
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Property tax reduction means the difference, between property taxes paid or payable on any qualified property in the base year, and the lower taxes paid or payable in the current year, except that such calculation shall be exclusive of any property tax credit applied to the property through the Regional Efficiency Aid Program or through a local miscellaneous revenue credit.
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Examples of Property tax reduction in a sentence

  • Property tax reduction on buildings, machineries, and equipment were also introduced in March 2020.

  • Draft Recommendation 7.2 State and Territory governments should remove any reference to the Register of the National Estate from their planning and heritage legislation and regulations.

  • Property tax reduction is a high priority for the governor and some legislators and the expansion of the voucher program is still being considered.

  • Property tax reduction will be through a homestead or farmstead exclusion.

  • Property tax reduction for 2010 municipal property taxes on 26 properties totalling $8,660.

  • Benefits: 🞂 Maintenance of property values🞂 Property tax rebate for contributing properties🞂 Improved sense of place🞂 Prestige🞂 Unique neighborhood Requirements:🞂 National designationo Does not place any requirements for maintenanceo Property tax reduction for contributing propertieso Can be removed from the list🞂 Local designationo Property tax reductions▪ contributing vs.

  • Property tax reduction for taxpayers residing in the city in an amount equal to twenty five percent (25%) of the resort tax revenues derived during the preceding fiscal year; B.

  • Property tax reduction is considerable, if building sites are extinguished.

  • Property tax reduction will be through a "homestead or farmstead exclusion." Under a homestead or farmstead property tax exclusion, the assessed value of each homestead or farmstead is reduced by the amount of the exclusion before the property tax is computed.

  • Kalemelawa, F., Nishihara, E., Endo, T., Ahmad, Z., Yeasmin, R., Tenywa, M.

Related to Property tax reduction

  • 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.

  • Anticipated county property tax revenue availability means the

  • Real Property Taxes shall also include any tax, fee, levy, assessment or charge, or any increase therein, imposed by reason of events occurring during the term of this Lease, including but not limited to, a change in the ownership of the Premises.

  • County Property Taxes means any property tax obligation on the County's secured or unsecured roll; except for tax obligations on the secured roll with respect to property held by a Contractor in a trust or fiduciary capacity or otherwise not beneficially owned by the Contractor.

  • Personal Property Taxes All personal property taxes imposed on the furniture, furnishings or other items of personal property located on, and used in connection with, the operation of the Leased Improvements as a hotel (other than Inventory and other personal property owned by Lessee), together with all replacement, modifications, alterations and additions thereto.

  • Income Tax Expense means, with respect to any period, the aggregate of all taxes on income of the Borrower for such period, whether current or deferred and net of any incentive or similar tax credits, determined on a Consolidated basis.

  • 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.

  • maximum council tax reduction amount means the amount determined in accordance with paragraph 29;

  • alternative maximum council tax reduction means the amount determined in accordance with paragraph 31 and Schedule 4;

  • Effective county tax rate means the actual county tax rate multiplied by a weighted average of the three most recent annual sales assessment ratio studies.

  • SF1-4 Intrinsic Loss Estimate means total losses under this Single Family Shared-Loss Agreement in the amount of eighteen million dollars ($18,000,000.00).

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

  • extended reduction means a reduction under this scheme for which a person is eligible under Part 12 (extended reductions);

  • 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.

  • Base Year means the period set forth in Section 5 of the Summary.

  • Rollback tax rate means the rate that will produce last year’s maintenance and operation tax levy (adjusted) from this year’s values (adjusted) multiplied by 1.08 plus a rate that will produce this year’s debt service from this year’s values (unadjusted) divided by the anticipated tax collection rate.