Examples of Special Levy in a sentence
Education property tax or Special Levy is raised as the Division’s contribution to the cost of providing public education for the students resident in the division.
If the Responsible Entity determines that the provision in the Annual Budget is inadequate or there are no (or insufficient) reserves for capital improvements, major expenses, repairs, acquisitions, reserves or any other matter determined by the Responsible Entity, the Responsible Entity may determine that a Special Levy is necessary.A Special Levy is levied against each Member on the same basis as Annual Fees and is payable on the date that the Responsible Entity determines.
Education property tax or Special Levy is raised as the Division’s contribution to the cost of providing public education for the students’ resident in the division.
As per Section 50(H) of the Income Tax Act 1995 (Consolidated to Finance Act 2015), a Special Levy was calculated at 10% on chargeable income.
Unless otherwise authorized or limited by applicable law, the total overlapping tax and assessment burden, including the Special Levy, shall not exceed 1.95% of the average estimated value of each category of real property subject to the Special Levy assuming that a certificate of occupancy or completion has been issued.