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.
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.
The Total Tax Burden For 1992, Minnesota residents paid a total of $8.99 billion in taxes while earning $74.4 billion in total money income.27 Minnesota residents thus paid 12.1 percent of their total income in state and local taxes.
What Matters is Total Tax Burden, Not “Double Taxation” From the income taxpayer’s perspective, what matters is not the number of times income is taxed, but the overall tax bur den on income.
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 to be constructed within CFD No. 87 does not exceed 1.95% of the Minimum Sale Price of each such Land Use Class of residential property to be constructed within CFD No. 87, then there shall be no reduction in the Assigned Facilities Special Tax, nor shall there be a reduction in the Backup Facilities Special Tax.