Exemption Period definition

Exemption Period means the period beginning on the first day of the property tax year after the property tax year in which an applicable portion of Economic Development Property is placed in service and ending on the Termination Date. In case there are Phases of the Project, the Exemption Period applies to each year’s investment made during the Investment Period.
Exemption Period means the period beginning on the first day of the property tax year after the property tax year in which an applicable piece of economic development property is placed in service and ending on the termination date. For projects which are completed and placed in service during more than one year, the exemption period applies to each year’s investment made by a sponsor during the investment period.
Exemption Period means the period beginning on the first day of the property tax year after the property tax year in which an applicable portion of Economic Development Property is placed

Examples of Exemption Period in a sentence

  • The Tax Exemption Period for an Applicant Project will normally end upon the completion of such project.

  • The fair market value of the real property for the first year of the Exemption Period remains the fair market value of the real property and Improvements for the life of the Exemption Period.

  • If the Make-whole Exemption Period is specified as applicable and the Issuer gives notice to redeem the Notes during the Make-whole Exemption Period, the Optional Redemption Amount will be 100 per cent.

  • The Agency, for good cause shown, may adopt a resolution extending the period for completion of the project and/or extending the Tax Exemption Period.

  • In case there are Phases of the Project, the Exemption Period applies to each year’s investment made during the Investment Period.


More Definitions of Exemption Period

Exemption Period means the period during which any Exemption Event has occurred and continues.
Exemption Period means the period commencing on the day (inclusive) the Borrower receives the notice in Clause 9.1 and ending on the day (inclusive) it receives the notice in Clause 9.2.
Exemption Period means that period during which all or a portion of the assessed valuation of the improvements has been exempted from real property taxation pursuant to section 725.02 of the Revised Code.
Exemption Period means the period from July 1, 2022, through June 30, 2023.
Exemption Period means the period beginning as of the later of January 1, 2009 and the time immediately prior to the closing of the transactions contemplated by the Exchange Agreement by and among the Corporation, Amster Trading Company, an Ohio corporation (“Amster”), and Ramat Securities, LTD, an Ohio limited liability company (“Ramat”), dated as of September 30, 2008, as in effect as of the time the Articles of Amendment and Restatement containing this Article NINTH are accepted for record by the SDAT, and ending as of the earlier of the close of business on June 30, 2009 and the time immediately after the effective time of the merger contemplated by the Agreement and Plan of Merger by and among the Corporation, Walter Industries, Inc., a Delaware corporation, and JWH Holding Company, LLC, a Delaware limited liability company, dated as of September 30, 2008, as in effect as of the time the Articles of Amendment and Restatement containing this Article NINTH are accepted for record by the SDAT.
Exemption Period means the ten-year period commencing upon the effective date of the claim for a real property tax exemption pursuant to subsection (b)(4), and ending on June 30th of the last year of the ten-year period.
Exemption Period means the period beginning on the first day of the property tax year after the property tax year in which an applicable piece of Economic Development Property is placed in service and ending on the Termination Date. In case there are Phases of the Project, the Exemption Period applies to each year’s investment made during the Investment Period. “Fee,” “Fee in Lieu of Taxes,” “FILOT,” or “Payments in Lieu of Taxes” shall mean the amount paid or to be paid in lieu of ad valorem property taxes as provided herein.