Tax Increment Period definition

Tax Increment Period means the period in which the taxing entities from the Project Area consent that a portion of their tax increment from the Project Area be used to fund the objectives outlined in the Project Area Plan.
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Tax Increment Period means the period of time during which the Authority is authorized under State law to collect tax increment revenues from the Property. As of the date of this Agreement, the Tax Increment Period terminates on December 31, 2031.
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Tax Increment Period means a calendar year beginning January 1 (which is the “tax lien date” when real property is deemed to be assessed for purposes of taxation by the Office of the Weber County Assessor pursuant to law), through and including December 31 of the same calendar year. The term “Tax Increment Period” means thestatutory length of time the Agency Board has authorized the Project Area to exist, including a beginning date and a termination date. For the purposes of this Agreement the Tax Increment Period for the Project Area is currently scheduled to end on December 31, 2043. The Tax Increment Period may not be extended beyond its current termination date without the approval of the Agency Board as authorized by Utah State Law.
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Examples of Tax Increment Period in a sentence

  • This contractual obligation to pay such taxes prior to delinquency on the part of Redeveloper shall cease upon expiration of the Tax Increment Period, but the City in no way waives the statutory obligation of Redeveloper to continue to pay real estate taxes.

  • Except as otherwise provided herein, this Redevelopment Agreement shall expire upon the expiration of the Tax Increment Period.

  • In the event the TIF Bond is not retired in full at the end of the Tax Increment Period, any remaining TIF Indebtedness on such Bond shall be forgiven.

  • That additional administrative burden will be introduced for companies at a time when the same involved staff needs to address many more requirements (see section 1 above on workable timelines).We, therefore, encourage the Commission to reflect on the “‘One-In, One-Out’ (OIOO) principle "to cut red tape" in the upcoming impact assessment.

  • Specifically, in the event of and to the extent of any deficiency in TIF Tax Revenues from the Ad Valorem Tax Provision for required debt service on the TIF Bond, the Redeveloper agrees to defer payment of the same for each year that there exists a deficiency in such TIF Tax Revenues during the Tax Increment Period.

  • This contractual obligation to pay such taxes prior to delinquency shall cease upon expiration of the Tax Increment Period, but the City in no way waives the statutory obligation to continue to pay real estate taxes.

  • In the event that any deficiency payments made by Redeveloper as required by this subsection or any interest that has accrued thereon have not been repaid at the end of the Tax Increment Period, Redeveloper agrees that the City shall not be liable for payment of said amounts and that said amounts shall be forgiven.

  • If during the Tax Increment Period, all or any portion of the Redeveloper Property is condemned by a condemning authority other than the City, and the condemning authority or its successor in interest would not be obligated to pay real estate taxes upon that portion condemned, the City shall be entitled to claim against the Condemner an interest in the property equal to the present value of the pro rata share of TIF Indebtedness outstanding as of the date of taking.

  • This contractual obligation to pay such taxes prior to delinquency on the part of the Redeveloper shall cease upon expiration of the Tax Increment Period, but the City in no way waives the statutory obligation of Redeveloper to continue to pay real estate taxes.

  • If Redeveloper is required to pay any such deficiency, the City shall reimburse Redeveloper for all sums paid by Redeveloper for such purposes to the extent TIF Tax Revenues do become available during the Tax Increment Period (defined below) from the Ad Valorem Provision to meet current debt service and reimburse Redeveloper for such deficiency payments.

Related to Tax Increment Period

  • Tax Increment means the difference between:

  • Tax increment revenues means the amount of ad valorem property taxes and specific local taxes attributable to the application of the levy of all taxing jurisdictions upon the captured assessed value of real and personal property in the zone. Tax increment revenues do not include any of the following:

  • Tax Increment District or "district" means that area to which the tax increment finance plan pertains.

  • Leverage Increase Period has the meaning specified in Section 7.11(a).

  • Incremental Revolving Increase has the meaning set forth in Section 2.16(a).

  • Applicable Measurement Period means the most recently completed four consecutive fiscal quarters of the Issuer immediately preceding the Applicable Calculation Date for which internal financial statements are available.

  • Excess Cash Flow Payment Period with respect to the prepayment required on each Excess Cash Flow Application Date, the immediately preceding fiscal year of the Borrower.

  • Available Incremental Amount has the meaning specified in Section 2.14(4)(c).

  • Incremental Term Facility has the meaning assigned to such term in Section 2.22(a).

  • Agreement Period means the period between the Agreement Date and the Expiry Date, unless terminated earlier on the Termination Date;

  • Adjustment Period means the period from the Effective Date up to and including the Expiry Time;