Municipal Property Taxes Sample Clauses

Municipal Property Taxes a. Beginning in the tax year in which construction of the Project in Xxxxxx has commenced prior to April 1st and thereafter until the Project permanently ceases to be used by TDI-NE for the transmission of electric current, TDI-NE will pay property taxes to the Town, in accordance with applicable law and as further described below, on the segment of the Project’s electric transmission cable and associated electric transmission equipment that is located within the Town of Xxxxxx (collectively, the “Equipment”). The tax rate and total taxes due on, and valuation of, the Equipment shall not be fixed by this Agreement, and as such, this Agreement shall not constitute a tax stabilization agreement pursuant to 24 V.S.A. § 2741. The Parties agree to cooperate in determining the fair market value (“FMV”) of the Equipment for purposes of placing the Equipment on the Town’s Grand List. This determination shall be in accordance with the formulas and calculations used by the State of Vermont Department of Taxes to value the Project in effect at the time of valuation, subject to applicable law. Construction Work in Progress (“CWIP”), if applicable, shall be taxed based on CWIP in place as of April 1 of any given year. TDI-NE shall certify all costs of construction and other elements of valuation, subject to any appropriate claims concerning confidential or proprietary information.

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Municipal Property Taxes a. Beginning in the tax year in which construction of the Project in Ludlow has commenced prior to April 1st and thereafter until the Project ceases commercial operation as an electric transmission facility, pursuant to this Agreement TDI-NE will pay property taxes to the Town, in accordance with applicable law and as further described below, on the segment of the Project’s electric transmission cable and associated electric transmission equipment that is located within the Town of Ludlow (collectively, the “Equipment”). The tax rate and total taxes due on, and valuation of, the Equipment shall not be fixed by this Agreement, and as such, this Agreement shall not constitute a tax stabilization agreement pursuant to 24 V.S.A. § 2741.

Municipal Property Taxes. 13.1.1 The Parties acknowledge that the Special Facility Payment is intended to be made in lieu of Property Taxes for the Facility. To achieve this intention, the Municipality will support NWMO’s efforts to obtain from the applicable Governmental Authorities an amendment or regulation to the Assessment Act that will result in the Facility Site not being subject to Property Tax (“Assessment Act Amendment”) commencing in the calendar year following the Commencement Date and expiring upon the earlier of an NWMO Termination Event or after seventy (70) years of the Extended Monitoring Phase.

Municipal Property Taxes. The City shall be responsible for municipal property taxes, if any, in regard to the Pound.

Municipal Property Taxes. During the time that the NECPL project is commercially operating, TDI‐NE will pay property taxes on the Project’s transmission cables and associated equipment that are located in Alburgh, in accordance with applicable law. In addition to the electrical equipment in Alburgh, TDI‐NE shall be separately obligated to pay property taxes on any real property that it owns in Alburgh.

Municipal Property Taxes. Institution agrees to pay, or cause to be paid, any and all local municipal assessments for property taxes, including farmland rollback assessments, directly related to the Leased Facilities. Institution, if applicable, shall provide the Authority with copies of all applications for exemption from municipal property taxes filed with the local municipality.

Related to Municipal Property Taxes

Real Property Taxes Taxes, assessments and charges now or hereafter levied or assessed upon, or with respect to, the Project, or any personal property of Landlord used in the operation thereof or located therein, or Landlord's interest in the Project or such personal property, by any federal, state or local entity, including: (i) all real property taxes and general and special assessments; (ii) charges, fees or assessments for transit, housing, day care, open space, art, police, fire or other governmental services or benefits to the Project, including assessments, taxes, fees, levies and charges imposed by governmental agencies for such purposes as street, sidewalk, road, utility construction and maintenance, refuse removal and for other governmental services; (iii) service payments in lieu of taxes; (iv) any tax, fee or excise on the use or occupancy of any part of the Project, or on rent for space in the Project; (v) any other tax, fee or excise, however described, that may be levied or assessed as a substitute for, or as an addition to, in whole or in part, any other Real Property Taxes; and (vi) reasonable consultants' and attorneys' fees and expenses incurred in connection with proceedings to contest, determine or reduce Real Property Taxes. Real Property Taxes do not include: (A) franchise, transfer, inheritance or capital stock taxes, or income taxes measured by the net income of Landlord from all sources, unless any such taxes are levied or assessed against Landlord as a substitute for, in whole or in part, any Real Property Tax; (B) Impositions and all similar amounts payable by tenants of the Project under their leases; and (C) penalties, fines, interest or charges due for late payment of Real Property Taxes by Landlord. If any Real Property Taxes are payable, or may at the option of the taxpayer be paid, in installments, such Real Property Taxes shall, together with any interest that would otherwise be payable with such installment, be deemed to have been paid in installments, amortized over the maximum time period allowed by applicable law. If the tax statement from a taxing authority does not allocate Real Property Taxes to the Building, Landlord shall make the determination of the proper allocation of such Real Property Taxes based, to the extent possible, upon records of the taxing authority and, if not so available, then on an equitable basis. Real Property Taxes also do not include any increases in the taxes, assessments, charges, excises and levies assessed against the Project due solely to the construction or installation of tenant improvements or other alterations by tenants of the Project other than Tenant and any other tenants or occupants of the Building; provided, however, that if any Real Property Taxes are imposed or increased due to the construction or installation of tenant improvements or other alterations in the Building, such Real Property Taxes shall be equitably prorated in Landlord's reasonable judgment between Tenant and any other tenants of the Building.
Property Taxes Landlord shall pay, prior to delinquency, all general real estate taxes and installments of special assessments coming due during the Lease term on the Leased Premises, and all personal property taxes with respect to Landlord's personal property, if any, on the Leased Premises. Tenant shall be responsible for paying all personal property taxes with respect to Tenant's personal property at the Leased Premises.
Real Estate Taxes and Special Assessments The 2022 calendar year real estate taxes due and payable in 2023 shall be paid by Seller. Seller shall credit Buyer(s) at closing for said 2022 real estate taxes payable in 2023 based on the most recent ascertainable tax figures. Xxxxx is responsible for all subsequent real estate taxes.
Real Estate Taxes All taxes and installments for special assessments will be prorated for the calendar year based on taxes levied. If taxes have not been levied, then they will be prorated based upon taxes for the previous year, adjusted for the most recent mill levy, if known.
Ad Valorem Taxes Prior to delinquency, Tenant shall pay all taxes and assessments levied upon trade fixtures, alterations, additions, improvements, inventories and personal property located and/or installed on or in the Premises by, or on behalf of, Tenant; and if requested by Landlord, Tenant shall promptly deliver to Landlord copies of receipts for payment of all such taxes and assessments. To the extent any such taxes are not separately assessed or billed to Tenant, Tenant shall pay the amount thereof as invoiced by Landlord.
Real Estate Taxes and Assessments Xxxxx is aware that all property is subject to the possibility of reassessment which may result in increased real estate taxes.
Governmental Charges Seller shall pay or cause to be paid all taxes imposed by any Governmental Authority (“Governmental Charges”) on or with respect to the Generating Facility, Monthly Contract Payments made by Buyer to Seller, or the Power Product before the Delivery Point, including ad valorem taxes and other taxes attributable to the Generating Facility, the Site or land rights or interests in the Site or the Generating Facility. Buyer shall pay or cause to be paid all Governmental Charges on or with respect to the Power Product at and after the Delivery Point. If Seller is required by Applicable Laws to remit or pay Governmental Charges which are Buyer’s responsibility under this Agreement, Buyer shall promptly reimburse Seller for such Governmental Charges. If Buyer is required by Applicable Law or regulation to remit or pay Governmental Charges which are Seller’s responsibility under this Agreement, Buyer may deduct such amounts from payments to Seller made pursuant to Article Four. If Buyer elects not to deduct such amounts from Seller’s payments, Seller shall promptly reimburse Buyer for such amounts upon Notice from Buyer of the amount to be reimbursed. Nothing shall obligate or cause a Party to pay or be liable to pay any Governmental Charges for which it is exempt under Applicable Laws. If Section 1.06(d) provides that Buyer has assumed some or all of the GHG Compliance Costs under this Agreement, nothing stated in this Section 8.02 relieves Buyer of its obligation to pay Seller for Seller’s GHG Compliance in accordance with and subject to this Agreement (including Exhibit S).