Tax Abatements definition

Tax Abatements means a portion of the City’s share of annual real property taxes on the Development Property as further defined in, and abated in accordance, with the Tax Abatement Program;
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Tax Abatements means the amount calculated in each tax-payable year as follows: the City tax rate for such tax-payable year multiplied by the Net Tax Capacity of the Development Property, then abated in accordance with the Tax Abatement Program. The Development Property will not contribute to fiscal disparities;
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Tax Abatements means the Fitness Facility Tax Abatements and the Additional Development Tax Abatements;
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Examples of Tax Abatements in a sentence

  • This Agreement is authorized by Chapter 312 of the Texas Tax Code as it exists on the effective date of this Agreement and by the WTC Guidelines for Granting Tax Abatements as they exist on the effective date of this Agreement.

  • In the event that any Property Tax Abatements are secured, Landlord shall credit the amount of the Property Tax Abatements, net of all out-of-pocket costs, expenses and fees incurred by Landlord in securing such Property Tax Abatements, in equal installments to the Additional Rent payable by Tenant during the next six months after such Property Tax Abatements are received by or credited to Landlord by such taxing authority.

  • Landlord shall not be required to commence any adversarial proceeding, whether administrative or judicial, to obtain any ruling, file any appeal, or otherwise to defend any application and shall not be accountable to the Tenant for any of its efforts in seeking Property Tax Abatements.

  • Landlord makes no representations as to the availability of Property Tax Abatements and/or the Landlord’s rights with respect thereto.

  • The Reimbursable Costs will be reimbursed using the City Tax Abatements.

  • After commencement of the Lease term, the Lessor shall provide to the LCO copies of all real estate tax bills for the Property, all documentation of Tax Abatements, credits, or refunds, if any, and all notices which may affect the assessed valuation of the Property, for the Tax Year prior to the commencement of the Lease Term, and all such documentation for every year following.

  • The Tax Abatement Note shall be secured solely by Pledged Tax Abatements.

  • Unadjusted Real Estate Taxes are the full amount of Real Estate Taxes that would be assessed for the Property for one full Tax Year without regard to the Lessor's entitlement to any Tax Abatements (except if such Tax Abatement came into effect after the date of award of the Lease), and not including any late charges, interest or penalties.

  • The Company, in recognition of the benefits provided under the terms hereof, including, but not limited to, the Real Property Tax Abatements provided hereunder, and for as long as this Lease Agreement is in effect, expressly waives any rights it may have for any exemption under Section 485-b of the Real Property Tax Law or any other exemption under any other law or regulation (except, however, for the exemption provided by Title 1 of Article 18-A of the GML) with respect to the Facility Realty.

  • If the Event of Default is thereafter cured in accordance with the Agreement, the Pledged Tax Abatements as of such Payment Date shall be deferred, without interest, and paid on the next Payment Date after the Event of Default is cured.


More Definitions of Tax Abatements

Tax Abatements means the amount calculated in each tax-payable year as follows: the City tax rate for such tax-payable year multiplied by the difference between the Net Tax Capacity of the Development Property as improved by the Project, as of January 2 in the prior year, less $93,462 (i.e. the Net Tax Capacity of the land value only of the Development Property, as established by the County assessor on January 2, 2017 for taxes payable in 2018), then abated in accordance with the Tax Abatement Program. The Development Property will not contribute to fiscal disparities;
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Tax Abatements mean, collectively, the following (as each may be extended or amended from time to time): (a) that certain Abatement Agreement for Property Located in the Reinvestment Zone entered into among Jefferson County, Owner and the Common Facilities Owner pursuant to Section 312.401 of the Texas Tax Code, dated March 25, 2019; (b) that certain Abatement Agreement for Property Located in the Reinvestment Zone entered into among Sabine Pass Port Authority, Owner and the Common Facilities Owner pursuant to Section 312.401 of the Texas Tax Code, dated April 3, 2019; (c) that certain Abatement Agreement for Property Located in the Reinvestment Zone entered into among ▇▇▇▇▇▇ ▇▇▇▇▇▇ Navigation District, Owner and the Common Facilities Owner pursuant to Section 312.401 of the Texas Tax Code, dated August 13, 2019; (d) that certain Industrial District Agreement entered among the City of Port ▇▇▇▇▇▇, Owner and the Common Facilities Owner dated June 4, 2019; (e) the First Source Referral Agreement; and (f) the 313 Agreement.
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Tax Abatements means the City's share of real estate taxes on the Tax Abatement Property abated in accordance with the Tax Abatement Program, which shall not exceed in the aggregate $165,000 with an annual maximum of $33,000; Term means the period in which this Agreement shall remain in effect, commencing on the Effective Date and continuing until the earlier of (i) the date the Company receives the final payment of Tax Abatements totaling the Reimbursement Amount (as defined herein), or
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Tax Abatements means the City Tax Abatements; and
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Related to Tax Abatements

  • Income Tax Expense means, for any period, the aggregate of all Taxes (including deferred Taxes) based on the income of a Person for such period, determined in accordance with GAAP.

  • Tax Expense means, for any period, the tax expense (including federal, state, provincial, local, foreign, franchise, excise and foreign withholding taxes) of the Loan Parties and their Subsidiaries, including any penalties and interest relating to any tax examinations for such period, determined on a consolidated basis in accordance with GAAP.

  • 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.

  • Tax Payments has the meaning set forth in the definition of Permitted Payments to Parent.

  • 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.