Incremental Taxes definition

Incremental Taxes means the amount of ad valorem taxes, if any, paid in respect of the Subject Property and its improvements which is attributable to the increase in the equalized assessed value of the Subject Property and its improvements over the initial equalized assessed value of the Subject Property, calculated as set forth in the TIF Act.

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Incremental Taxes means, with respect to a Phase, for each County Tax Year of a PILOT Term, twenty-five percent (25%) of the difference between (a) the Taxes for a Phase less (b) the Pre-Use and Occupancy Taxes for such Phase.

Incremental Taxes means, for any fiscal year of the Commonwealth, that amount of money which is equal to all tax revenues received by the Commonwealth, as taxing entity, during such fiscal year in respect of an industrial development project and improvements and equipment thereon and the products thereof, and activities carried out by the occupants and users of such industrial development project, minus an amount equal to all tax revenues received by the Commonwealth, as taxing entity, in respect of the site of the industrial development project and the same type of taxable properties and activities during the fiscal year immediately preceding the fiscal year during which construction of the improvements undertaken by an industrial entity as a result of the financing of such industrial development project commenced. Incremental taxes shall include such tax revenues as state corporate income taxes, state income taxes paid by employees of manufacturing, processing, and assembling facilities developed on the site of an industrial development project, state property taxes, state corporation license taxes, and state sales and use taxes, but shall not include any taxes levied specifically for educational purposes;

Examples of Incremental Taxes in a sentence

The Municipality's obligations under this Agreement to pay debt service on any TIF Note and/or to pay or reimburse the Developer for Eligible Redevelopment Project Costs is a special and limited obligation, to be paid solely from Development Incremental Taxes in the Special Account of the Fund, and not otherwise.
Any TIF Note shall be payable solely and only from Development Incremental Taxes, and not otherwise.
The Municipality shall pay directly or reimburse the Developer for Eligible Redevelopment Project Costs permitted by the Act from Development Incremental Taxes (as generated solely and only from the Development Area, and not otherwise) and deposited into or credited to the Special Account of the Fund, and only for the term of the Redevelopment Plan or such lesser period as provided in this Agreement and the TIF Act.
Notwithstanding anything herein to the contrary, the Municipality shall be liable for no amount hereunder in excess of Incremental Taxes duly deposited into or credited to the Special Account.
The Parties agree and acknowledge that Decolar shall be responsible for any and all Expedia Incremental Taxes.

More Definitions of Incremental Taxes

Incremental Taxes means the determination by the Calculation Agent of:

Incremental Taxes shall have the meaning set forth in Section 4.8.

Incremental Taxes means the ad valorem taxes, if any, arising from the tax levies upon taxable real property in the Project Area by any and all taxing districts or municipal corporations having the power to tax real property in the Project Area, which taxes are attributable to the increase in the then current equalized assessed valuation of each taxable lot, block, tract or parcel of real property in the Project Area over and above the Initial Equalized Assessed Value of each such piece of property, all as determined by the County Clerk in accord with Section 11-74.4-9 of the TIF Act.

Incremental Taxes means such ad valorem taxes which, pursuant to the TIF Adoption Ordinance and Section 5/11-74.4-8(b) of the Act, are allocated to and when collected are paid to the Treasurer of the City for deposit by the Treasurer into the TIF Fund established to pay Redevelopment Project Costs and obligations incurred in the payment thereof.

Incremental Taxes means the amount in the STAF Account equal to the amount of ad valorem taxes, if any, paid in respect of the Project Area which are attributable to the increase in the equalized assessed value of the Project Area and its improvements over the initial equalized assessed value of the Project Area as of the date of the adoption of Ordinances No. 53-00, 54-00, 55-00 adopting tax increment financing pursuant to the TIF Act. The City shall make certain payments to the Developer from the STAF Account as provided in Article 4.

Incremental Taxes means the amount by which (x) the amount of Taxes (other than Transfer Taxes) owed by the Seller as a result of the Transactions taking into account the Section 338(h)(10) Elections (if applicable), exceeds (y) the amount of Taxes (other than Transfer Taxes) that would be owed by the Seller as a result of the Transactions if such Section 338(h)(10) Elections had not been made.