Tax Abatement. The City hereby agrees to xxxxx the Excise Tax as provided herein in the amount set forth in Section 3 for the Property, provided that the terms and conditions set forth herein are timely met. Upon satisfactory timely completion of the Project Schedule and Scope of Work as set out in Section 2 and in accordance with other requirements of this Agreement, the City will issue a letter confirming the permanent abatement of the Excise Tax, which shall be in recordable form as shown in Exhibit B.
Tax Abatement. Industrial, Logistic(s) and Knowledge-based Companies Outside the ICM Area, including the CITY OF SYCAMORE. The duration for tax abatement, for projects described as Outside the ICM Area in the above, shall be for 5 years or until the expiration, termination or decertification of the DeKalb County Enterprise Zone or the termination of the abatement based upon non-compliance with this Agreement or the MOU, whichever is sooner. The following abatement schedule shall be followed:
Tax Abatement. Industrial companies within the ICM Area. The duration for tax abatement, within the ICM Area described above, shall be for 9 years or until the expiration, termination or decertification of the DeKalb County Enterprise Zone or the termination of the abatement based upon non-compliance with this Agreement or the MOU, whichever is sooner. The following abatement schedule shall be followed:
Tax Abatement. Tenant shall have the right to contest in good faith by appropriate proceedings diligently pursued the imposition or amount of any real estate taxes assessed against the Lot or the Building or such personal property taxes payable by it hereunder, including the right on behalf of, and in the name of the Landlord, to seek abatements thereto. The Landlord shall reasonably cooperate with Tenant, at Tenant's sole expense, in any such contest or abatement proceedings. In the event that Tenant determines not to contest such taxes and Landlord desires to file such contest, Landlord shall give written notice of that fact to Tenant and shall have the sole right as to such tax xxxx to contest in good faith by appropriate proceedings diligently pursued the imposition or amount of any real estate taxes assessed against the Lot or the Building or such other taxes payable by Tenant hereunder, including the right to seek abatements thereto. In such event, the Tenant shall reasonably cooperate with Landlord, at Landlord's sole expense, in any such contest or abatement proceedings. Any tax abatement or rebate received shall be allocated to the parties in the same proportion as payment. If Landlord shall receive on behalf of the Lot or the Building a rebate or abatement on any tax paid by Tenant, then after deducting therefrom any costs reasonably incurred by Landlord in obtaining such rebate or abatement, all of such net rebate or abatement relating to the Lot or the Building or to personal property taxes assessed against the Tenant's personal property shall be returned to Tenant to the extent that such rebate or abatement relates to payment made by the Tenant and not reimbursed by Landlord. If Tenant shall receive on behalf of the Lot or the Building a rebate or abatement on any tax paid by Tenant, then after deducting therefrom any costs reasonably incurred by Tenant in obtaining such rebate or abatement, all of such net rebate or abatement related to the Lot, the Building or to personal property taxes assessed against the Tenant's property shall be retained by Tenant, as its sole property, to the extent such rebate or abatement relates to a payment made by Tenant and not reimbursed by Landlord. The remaining portion of such net rebate or abatement shall promptly be returned to Landlord.
Tax Abatement. Subject to full compliance with the procedures required by law and to ongoing compliance by the Applicant for maintaining a tax abatement, the City will offer tax abatement on the Project for a term of __ years commencing tax year 20__/payable 20__ (having a schedule of ________________________________).
Tax Abatement. Except as previously disclosed to Purchaser, there are no tax abatements, exemptions or special assessments affecting the Property.
Tax Abatement. A. Subject to OWNER (I) providing written documentation evidencing that the Improvements were substantially completed as required in Section 2 above and (ii) meeting the Job Creation Requirement as set forth in Section 3 above, the CITY will grant tax abatement to OWNER, subject to the terms and conditions of this Agreement and subject to the rights of holders of outstanding bonds of the CITY, on a portion of the CITY [ad valorem] [tangible personal property] taxes assessed on the increased value of the [Property and Improvements] [the leasehold interest, if taxable,] [new tangible personal property located on the Property [subject to the leasehold interest]] otherwise owed to the CITY (“Tax Abatement”). For these purposes, the increased value of [Property and Improvements] [the taxable leasehold interest] is the amount of the difference between the fair market value of the [Property and Improvements] [the taxable leasehold interest] (but not including the value of personal property, machinery, inventory, supplies, or other property that is taxed separately from the land and buildings) as shown on the tax rolls of the Dallas Central Appraisal District as of January 1 of the year in which this Agreement is executed, and the value of said [Property and Improvements] [the taxable leasehold interest] as shown on such tax rolls on January 1 of the year of calculation, as finally determined by the Dallas Central Appraisal District. For these purposes, Tax Abatement shall be an amount equal to the taxes assessed on percent ( %) of the increased value of the [Property and Improvements] [the taxable leasehold interest]. The value of the [Property and Improvements] [the taxable leasehold interest] shall be as determined by the Dallas Central Appraisal District. The OWNER shall have the right to protest and/or contest any assessment of the Property and said Tax Abatement shall be applied to the amount of taxes finally determined to be due as a result of any such protest and/or contest. OR [For these purposes, Tax Abatement is applicable only to net new tangible personal property located on the Property [subject to the leasehold interest] after the date of City Council authorization of this Agreement (“eligible tangible personal property”). Tangible personal property located on the Property [subject to the leasehold interest] at any time before the date of City Council authorization of this Agreement, and existing business personal property located at another site wit...
Tax Abatement. If and when requested by the Developer, the Town agrees to designate the Project Site as an economic revitalization area pursuant to the Abatement Act prior to the issuance of any EDC Bonds, subject to compliance with applicable statutory requirements. Further, the Town acknowledges that individual users or tenants of any building constructed within the Project shall have the right to apply directly to the Town for real and/or personal property tax abatement. The Town shall review and consider all applications for abatement in accordance with its then applicable standards for such requests for abatement.
Tax Abatement. Tax abatement for the Development Property shall be addressed in a separate agreement between Developer and the City. [The remainder of this page has been intentionally left blank]
Tax Abatement. Industrial, Logistic(s) and Knowledge-based Companies Outside the ICM Area, including the CITY OF SANDWICH. The duration for tax abatement, for projects described as Outside the ICM Area in the above, shall be for 5 years or until the expiration, termination or decertification of the DeKalb County Enterprise Zone, whichever is sooner. The following abatement schedule shall be followed:
