Exemption Year means, for any Parcel, any calendar year in which Improvements would be taxable but for the exemption from taxation pursuant to the TIF Ordinance.
Exemption Year means the calendar year for which the exemption is sought;
Exemption Year means any calendar year in which the Project would be taxable but for the municipal authorization and finalization of a Community Reinvestment Area Agreement Ohio Revised Code Sections 3735.67 (B) and (D). "New Employee" shall include all employees who are first employed at the project site and who have not been subject to the Municipality municipal income tax within the previous two years on income derived from employment from CVR prior to being employed at the project site. "New employee" does not include any person hired to replace a person who is not a “new employee”. "Base Employment" shall be the number of employees located at the project site immediately prior to the finalization of the Community Reinvestment Area Agreement. "Base Payroll" shall be the annualized salary of all employees located at the project site immediately prior to the finalization of the Community Reinvestment Area Agreement.
Examples of Exemption Year in a sentence
A Transportation Network Company (TNC) that receives an exemption shall submit Quarterly Reports during the Exemption Year.
We agree that the Commission should verify that a TNC that receives an exemption continues to meet the Exemption Time Standard in that geographic area during the Exemption Year.
We adopt a requirement that a TNC that receives an exemption should submit Quarterly Reports during the Exemption Year.
It is reasonable to verify that a TNC that receives an exemption continues to meet the designated level of service in that geographic area during the Exemption Year.
If a TNC fails to satisfy the Exemption Time Standard during the Exemption Year, the TNC shall provide the reason for the failure and whether the issue remains, and such failure may be a consideration in future Exemption Requests for that geographic area.
More Definitions of Exemption Year
Exemption Year means any calendar year in which the Project would be subject to full real property taxes but for the City authorization and finalization of the CRA Agreement.
Exemption Year means any calendar year in which the Project would be taxable but for the municipal authorization and finalization of the TIF Ordinance.
Exemption Year means each tax year for which an exemption is provided for any Parcel of the Property pursuant to the TIF Ordinance. “Full Stabilization” means that both of the following have been satisfied: (i) certificates of occupancy have been issued for the office tower, the hotel, the residential tower, the residential liner units, and the parking garage constructed as part of the Project, and (ii) thirty percent (30%) of the retail space has been turned over by the landlord to the respective tenants.
Exemption Year means any calendar year in which the Project would be taxable but for the municipal authorization and finalization of an Community Reinvestment Area Agreement Ohio Revised Code Sections 3735.67 (B) & (D).
Exemption Year means the year the Exemption applies.
Exemption Year means any calendar year in which the Project would be taxable but for the authorization and finalization of a Community Reinvestment Area Agreement under ORC Sections 3735.67 (B) and (D). Section 2. Calculation of Direct Compensation Payment: During each exemption year for which the Company receives a real property tax benefit pursuant to the Community Reinvestment Area Agreement, the Company shall accrue a liability equal to 50% (fifty percent) of the benefit received under the Community Reinvestment Area Agreement which shall be payable to the Huron City Schools as defined below. The compensation due to the Huron City Schools for real property tax abatement will be calculated commencing with calendar year 2017 as appropriate based upon the appraised value of abatable real property improvements as determined by the Erie County Auditor using the then current Erie County real property tax rates applicable to commercial real estate. Section 3. Timing of Payments from the Company to the Huron City Schools: The Company shall deliver the accrued amount payable as calculated in Section 2, above to the Board of Education of the Huron City Schools yearly as follows: Commencing on or before April 15 of the first year following the first Exemption Year and continue on the same schedule each year thereafter through and including April 15 of the first year following the final Exemption Year. The Direct Compensation payments provided under this Section shall be tendered by the Company directly to the Huron City Schools in all events once receipt of tax incentives under the Community Reinvestment Area Agreement have commenced. The Company specifically acknowledges that the Board of Education will anticipate the proceeds of this Agreement and has or will accrue a debt secured by the terms of this Agreement. Any late payment under this Section shall bear interest at the rate of 10 percent (10%) per annum from its due date until such payment is made. The obligation to make Direct Compensation Payments to the Huron City Schools is made for the benefit of the Huron City Schools. Said obligation undertaken by the Company in this Agreement may not be assigned by the Company without the prior written consent of the Huron City Schools. Section 4. Dedicated Use of Direct Compensation Payments: Payments received by the Board of Education under this Agreement shall be dedicated to capital purchases for and building improvements to be determined at the discretion of the Board of Edu...
Exemption Year means each tax year for which a TIF Exemption is provided for any Parcel of the Property pursuant to the TIF Resolution.