Tax Abatement definition

Tax Abatement means the partial or full exemption or abatement of real estate taxes granted to the Mortgaged Property and/or Borrower pursuant to the Tax Abatement Program.

Tax Abatement means the reduction of the amount of property taxes required to be paid on taxable property for a set period of time (usually up to 10 years), in order to incentivize investment in the local governmental unit.

Tax Abatement means the full or partial exemption from ad valorem taxes of certain Eligible Property in the Reinvestment Zone designated for economic development purposes pursuant to Chapter 312 of the Texas Tax Code.

Examples of Tax Abatement in a sentence

• The District adopted the tax abatement disclosure guidance set forth in Governmental Accounting Standards Board Statement No. 77, Tax Abatement Disclosures.

• The City adopted the tax abatement disclosure guidance set forth in Governmental Accounting Standards Board Statement No. 77, Tax Abatement Disclosures.

• The County adopted the tax abatement disclosure guidance set forth in Governmental Accounting Standards Board Statement No. 77, Tax Abatement Disclosures.

• These LIPA PILOT payments are not the result of tax abatement agreements as defined by GASB Statement No. 77, Tax Abatement Disclosures, under which an entity receiving a reduction in tax revenues promises to take specific action that contributes to economic development or otherwise benefits the governments or residents of the governments.

• If a Tax Abatement comes into effect after the date of award of the Lease, "Unadjusted Real Estate Taxes" are the full amount of Real Estate Taxes assessed for the Property for one full Tax Year, less the amount of such Tax Abatement, and not including any late charges, interest, or penalties.

More Definitions of Tax Abatement

Tax Abatement means tax abatement programs under RSMO Chapter 353, and RSMO Chapter 100.

Tax Abatement means a temporary exemption from real property taxation of a percentage of the assessed valuation of a new structure, or of the increased assessed valuation of an existing structure after remodeling.

Tax Abatement means the deductions granted with respect to the Facility for property located in an economic revitalization area pursuant to Indiana Code Section 6-1.1-12.1.

Tax Abatement means the full or partial exemption of ad valorem taxes for eligible properties in a reinvestment zone designated as such for economic development purposes for new or expanded business development for a period of up to 10 years. Abatement may be granted for real property improvements and/or business personal property.

Tax Abatement means the County’s reimbursement to the Developer of the County’s share of ad valorem property taxes imposed on the Development Property and paid by the Developer for a period not to exceed ten (10) years, specifically with respect to the payable 2020 through 2029 property taxes, in a total amount not to exceed $720,780.00, pursuant to the specific provisions of Section 3.9.

Tax Abatement means collectively the City Abatement, and the County Abatement.

Tax Abatement. ’ means the percentage that is applied to the ‘‘tax otherwise payable under this Part’’ within the meaning assigned by subsection 120(4) of the Income Tax Act to 25 determine the amount that is deemed by subsection 120(2) of that Act to have been paid by an individual on account of the indi- vidual’s tax for a taxation year;