Tax Allocation Increment definition

Tax Allocation Increment means the positive tax allocation increment (within the meaning of the Redevelopment Powers Law) levied and collected on real property within the South Columbus River District TAD attributable to the ad valorem millage rate levied annually by Columbus (which was .040831 mils in 2022).

Tax Allocation Increment means the positive tax allocation increment (within the meaning of the Redevelopment Powers Law) levied and collected within the Midtown TAD relating to the Property and the Developer Project at the tax millage rates then in force in the City, City Schools, and County.

Tax Allocation Increment means the tax allocation increment within the meaning of

Examples of Tax Allocation Increment in a sentence

• Positive Tax Allocation Increment The estimated positive tax allocation increment for the period covered by the term of any tax allocation bonds is set forth under “ESTIMATED POSITIVE TAX ALLOCATION INCREMENTS,” above.

• If less than 100% of real property taxes levied within the TAD have been paid, the total Tax Allocation Increment calculated in this Section shall be reduced proportionally to reflect the percentage of real property taxes actually collected.

• Such submission shall also include the projected impact, if any, on the Positive Tax Allocation Increment and such other information as reasonably requested by the City for the purpose of evaluating the request.

• Reimbursement shall not be made: (1) in an amount exceeding the total of the Tax Allocation Increment generated in the Special Fund by the Developer Project for a period in excess of 15 consecutive calendar years; or (2) in an amount exceeding the total reimbursement of $1,986,411; whichever occurs first.

• On December 8, 2014, the Lilburn City Council approved and amended the Lilburn Main Street and Old Town Redevelopment Plan, establishing the Tax Allocation Increment Base and dissolving the boundaries of a TAD previously known as Tax Allocation District Number One – Downtown Lilburn and now known as Tax Allocation District Number Two – Lilburn Main Street and Old Town District.

More Definitions of Tax Allocation Increment

Tax Allocation Increment means the tax allocation increment as defined by O.C.G.A.§36-44-3(14) of the Redevelopment Powers Law and derived from ad valorem taxes on real property within the TAD.

Tax Allocation Increment means the tax allocation increment within the meaning of O.C.G.A. Section 36-44-3(14) of the Redevelopment Powers Law with respect to the TAD #4, limited to the Real Property Tax Allocation Increment.

Tax Allocation Increment has the meaning set forth in Section 1.2 of this Agreement.

Tax Allocation Increment means the amount of positive tax allocation increment with respect to real property accrued in each calendar year within the Downtown Lilburn TAD #2 as defined in O.C.G.A. §36-44-3(14).

Tax Allocation Increment means the amount of the tax allocation increment with respect to real property accrued in each calendar year within the Varnell TADs, as provided in O.C.G.A. §36-44-3(14).

Tax Allocation Increment means the tax allocation increment within the meaning of O.C.G.A. Section 36-44-3(14) of the Redevelopment Powers Law with respect to the New Town Center TAD, including, without limitation, Real Property Tax Allocation Increment. The proportional share of accumulated Real Property Tax Allocation Increments attributable to the contributions of City, County and School District millage may also be referred to in this Agreement as City, County and School District Tax Allocation Increments, respectively. See Exhibit “D” for a summary of tax allocation district increment for the years 2019 through 2021.

Tax Allocation Increment means the “tax allocation increment” (as such term is defined in the Redevelopment Powers Law) actually received by the City that is attributable to City and County ad valorem property taxes that are generated by the Project and, in the event that the City secures the consent of the Xxxxxx County School District, Board of Education to the Commercial Corridors TAD, the School District ad valorem property taxes generated by the Project and received by the City. For purposes of this Development Agreement, the Tax Increment is limited to tax allocation increment generated from the Project and excludes additional increment that is generated within the Tax Corridor Increment.