Total Tax Burden definition

Total Tax Burden means, for a parcel of residential property within a Land Use Class, for the Fiscal Year in which Total Tax Burden is being calculated, the sum of (a) the Assigned Facilities Special Tax for such Fiscal Year, plus (b) the Assigned Services Special Tax for such Fiscal Year, plus (c) the ad valorem property taxes, special assessments, special taxes for any overlapping community facilities districts, and any other governmental fees, charges (other than fees or charges for services such as sewer and trash), taxes and assessments (which, for purposes of clarity, do not include Contractual Impositions) collected by the County on ad valorem tax bills and that the CFD Administrator estimates would be levied or imposed on such residential property in such Fiscal Year if the residential dwelling unit thereon or therein had been completed and sold, and was subject to such fees, charges, taxes and assessments in such Fiscal Year.

Total Tax Burden means, with respect to a Plan Type, for the Fiscal Year for which the calculation is being performed, the sum of the Assigned Special Tax and estimated ad valorem property taxes, special assessments, special taxes for any overlapping community facilities districts, and any other governmental taxes, fees and charges levied or imposed on Dwelling Units of such Plan Type in CFD No. 2022-1N (IA No. 4) in such Fiscal Year or that would have been levied on all such Dwelling Units had these Dwelling Units been subject to such levies (excluding homeowner’s association dues and Property Assessed Clean Energy (“PACE”) charges imposed pursuant to AB 811 or SB 555, that are levied on individual Assessor’s Parcels, or any other charges applicable to the Assessor’s Parcels initiated by the homeowner after the close of escrow).

Total Tax Burden means, for any Land Use Category, the Special Taxes for such Land Use Category, together with ad valorem property taxes, special assessments, special taxes for any overlapping community facilities district, or any other taxes, fees and charges which would be collected by the County on property tax bills for a Market Rate Unit with an assessed value equal to the Average Sales Price, and which are payable from and secured by the property assuming such Residential Unit had been completed, sold, and subject to such levies and impositions, excluding service charges such as sewer and trash.

Examples of Total Tax Burden in a sentence

• Based on the estimated Average Sales Price that the Town and CMFA determine to be appropriate for each Square Footage Category (which may be determined pursuant to an Independent Price Point Study), the Administrator shall reduce the Special Tax to the point at which the Total Tax Burden is estimated to equal 1.80% of the Average Sales Price for each Square Footage Category.

• If based upon such Price Point Study the CFD Administrator calculates that the Total Tax Burden applicable to each Land Use Class of residential property constructed or to be constructed within CFD No. 99 does not exceed 1.95% of the Minimum Sale Price of each such Land Use Class of residential property constructed or to be constructed within CFD No. 99, then there shall be no reduction in the Assigned Special Tax, nor shall there be a reduction in the Backup Special Tax.

• Such reduction shall be made without a vote of the qualified Improvement Area No. 1 electors following discussion with the developers/builders and a determination by the Town and CMFA that the Total Tax Burden on one or more of the Square Footage Categories may, without a reduction, exceed a Total Tax Burden of 1.80% of the Average Sales Price for the Square Footage Category.

• Such a reduction shall be made without a vote of the qualified CFD electors if either of the following occur: (i) a Major Property Owner within the CFD requests a reduction in the Base Special Tax, or (ii) CMFA makes a determination that the Total Tax Burden may, without a reduction in the Base Special Tax, exceed 1.80% of the Average Sales Price.

• If, based on the Price Point Study, the Administrator calculates that the Total Tax Burden for a Land Use Category will exceed 1.80% of the Average Sales Price for such Land Use Category, the Administrator shall reduce the Base Facilities Special Tax on such Land Use Category to the point at which the Total Tax Burden is equal to 1.80% of the Average Sales Price for such Land Use Category.

More Definitions of Total Tax Burden

Total Tax Burden means for any residential dwelling unit, the annual Special Tax, together with ad valorem property taxes, special assessments, special taxes for any overlapping community facilities district, and any other taxes, fees and charges which are collected by the County on ad valorem tax bills and which are payable from and secured by the property assuming such residential dwelling unit had been completed, sold, and subject to such levies and impositions, excluding service charges such as sewer and trash.

Total Tax Burden means, for any Square Footage Category, the Special Tax for such Square Footage Category, together with ad valorem property taxes, special assessments, special taxes for any overlapping community facilities districts, and any other taxes, fees and charges which would be collected by the County on property tax bills for a Residential Unit with an assessed value equal to the Average Sales Price, and which are payable from and secured by the property assuming such Residential Unit had been completed, sold, and subject to such levies and impositions, excluding service charges such as sewer and trash, and voluntary assessments such as those associated with a Property Assessed Clean Energy program.

Total Tax Burden means, with respect to a Plan Type, for the Fiscal Year for which the calculation is being performed, the sum of the Assigned Special Tax and estimated ad valorem property taxes, special assessments, special taxes for any overlapping community facilities districts, and any other governmental taxes, fees and charges levied or imposed on Dwelling Units of such Plan Type in CFD No. 2022-1N (IA No. 3) in such Fiscal Year or that would have been levied on all such Dwelling Units had these Dwelling Units been subject to such levies (excluding homeowner’s association dues and Property Assessed Clean Energy (“PACE”) charges imposed pursuant to AB 811 or SB 555, that are levied on individual Assessor’s Parcels, or any other charges applicable to the Assessor’s Parcels initiated by the homeowner after the close of escrow). Prior to the issuance of a second series of Bonds (or the first series of Bonds, if such series is the final series of Bonds, as determined by the City), the following steps shall be taken for each Land Use Class of for-sale Residential Property in CFD No. 2022-1N (IA No. 3) for evaluating the Special Tax: Step No.:

Total Tax Burden means, for Single Family Detached Property and for any Square Footage Category of Single Family Attached Property, the Special Tax for such Square Footage Category, together with ad valorem property taxes, special assessments, special taxes for any overlapping community facilities districts, and any other taxes, fees and charges which would be collected by the County on property tax bills for a Residential Unit with an assessed value equal to the Average Sales Price, and which are payable from and secured by the property assuming such Residential Unit had been completed, sold, and subject to such levies and impositions,

Total Tax Burden means for any Dwelling Unit, the annual Special Tax, together with ad valorem property taxes, special assessments, special taxes for any overlapping community facilities district, and any other taxes, fees, and charges which are levied and imposed on such Dwelling Unit and the real property on which it is located and collected by the County on property tax bills and which are secured by such Dwelling Unit and the real property on which it is located, assuming such Dwelling Unit had been completed, sold and subject to such levies and impositions, excluding both service charges, such as those related to sewer and trash, and Contractual Obligations, as defined herein.

Total Tax Burden means, for a Unit within a Land Use Class, for the Fiscal Year in which the Total Tax Burden is being calculated, the sum of (a) the Assigned Special Tax A for such Land Use Class for such Fiscal Year, plus (b) with respect to Tax Zone 1, the Special Tax of CFD No. 32 for such Land Use Class for such Fiscal Year; with respect to Tax Zone 2, the Special Tax B for such Land Use Class for such Fiscal Year; and with respect to Tax Zone 3, the Special Tax of CFD No. 23 for such Land Use Class for such Fiscal Year, plus (c) the ad valorem property taxes, special assessments, special taxes for any overlapping community facilities districts, and any other governmental fees, charges (other than fees or charges for services such as sewer and trash), taxes, and assessments (which do not include Contractual Impositions) collected by the County on ad valorem tax bills, plus (d) property owner association assessments (but excluding the refuse collection portion of such assessments), and that the CFD Administrator estimates would be levied or imposed on such Unit in such Fiscal Year if the residential dwelling unit thereon or therein had been completed and sold, and was subject to such fees, charges, taxes, and assessments in such Fiscal Year.

Total Tax Burden means, with respect to a Plan Type, for the Fiscal Year for which the calculation