Examples of Base Tax Amount in a sentence
With respect to the Redevelopment Project, the actual base tax year and Base Tax Amount for the Redevelopment Project will be set forth in the redevelopment contract and/or the resolution authorizing the TIF Indebtedness (defined below).
Fifth, twenty percent (20%) of the excess of property taxes over the Total Base Tax Amount less than two percent (2%) fee due to the Shelby County Trustee as set forth above will be allocated to and, as collected, paid to the City and the County as all other taxes levied by the City and County on all other properties.
Third, seventy-five percent (75%) of the excess of property taxes over the Total Base Tax Amount less the two percent (2%) fee due to the Shelby County Trustee as set forth above (the " TIF Revenues") will be allocated and, as collected, paid into a separate fund of the Board created to hold such payments until the tax proceeds in the fund are to be applied to pay the Eligible Costs as described above.
Fourth, five percent (5%) of the of the excess of property taxes over the Total Base Tax Amount less the two percent (2%) fee due to the Shelby County Trustee as set forth above shall be payable to the Board as a fee for administering the Tax Increment Incentive.
Second, two percent (2%) of the excess County property taxes over the portion of the Total Base Tax Amount attributable to the County property taxes shall be payable to the Shelby County Trustee to administer distribution of the Shelby County Tax Increment Incentive and two percent (2%) of the excess City property taxes over the portion of the Tax Base Tax Amount attributable to the City property taxes shall be payable to the City Treasurer to administer distribution of the City Tax Increment Incentive.