Tax Increment District definition
Examples of Tax Increment District in a sentence
The true impact on taxing entities of the Plan is the increase in valuation of the property within the Tax Increment District.
Following the termination of Tax Increment District No. 5, the Village shall allocate any Payments for Municipal Services made pursuant to this Agreement to all taxing jurisdictions in which the Property is located or to which the Property is subject for the Valuation Year, based on each taxing jurisdiction’s mil rate.
This Note shall terminate and be of no further force and effect following the last Payment Date defined above, on any date upon which the EDA shall have terminated the Development Agreement under Section 4.2(2) thereof or the Developer shall have terminated the Development Agreement under Article V thereof, on the date the Tax Increment District is terminated, or on the date that all principal and interest payable hereunder shall have been paid in full, whichever occurs earliest.
The Tax Increment District includes properties other than the Development Property and Hennepin County remits Tax Increment to the EDA on the basis of the captured tax capacity of the entire Tax Increment District.
The debt on the Tax Increment District Project Costs covered in the Plan will be retired by deposits made in the Tax Increment District as taxes are paid on the property in succeeding years.