Ineligible Property definition

Ineligible Property means real property, existing improvements, tangible personal property that the Fort Bend Central Appraisal District classifies as inventory or supplies, real property used primarily to provide retail sales or services to the public, real property used for residential purposes, tangible personal property classified as furnishings, tangible personal property located in the reinvestment zone prior to the execution date of the tax abatement agreement, real property with a productive life of less than 10 years, or any other property for which abatement is not allowed by state law.

Ineligible Property means real property, existing improvements, tangible personal property that the FBCAD classifies as inventory or supplies, real property used primarily to provide retail sales or services to the public, real property used for residential purposes, tangible personal property classified as furnishings, tangible personal property located in the reinvestment zone prior to the execution date of the tax abatement agreement, real property with a productive life of less than 10 years, or any other property for which abatement is not allowed by state law.

Ineligible Property is fully taxable and ineligible for tax abatement and includes land, supplies, inventory, housing, vehicles, improvements for the generation or transmission of electrical energy not wholly consumed by a new facility or expansion; any improvements, including those to produce, store or distribute natural gas, fluids or gasses, which are not integral to the operation of the facility; deferred maintenance, property to be rented or leased, property which has a productive life of less than ten years, or any other property for which abatement is not allowed by state law.

Examples of Ineligible Property in a sentence

• Specifically Ineligible Property Some property is considered ineligible by statute.

• Ineligible Property TypesMulti-family, residential housing and government-owned buildings are not allowed under the program.

• For such Rehabilitation Projects, all Eligible Property in excess of the Base Year Value shall be subject to Abatement plus the value of personal property such as furniture and movable equipment which would otherwise be considered Ineligible Property for any other type of Abatement category.

• For the same consideration and to further secure the Obligations, Mortgagor hereby grants to Mortgagee for its benefit and the ratable benefit of the other Credit Parties a security interest in and to the Collateral, except that for purposes of this security interest, the term Collateral shall not include the Ineligible Property.

• That the value of all property (Eligible and Ineligible Property), shall be determined in the Base Year by the FBCAD.

More Definitions of Ineligible Property

Ineligible Property is defined in Section 8.21 hereof

Ineligible Property means any of the following property or assets of any Grantor:

Ineligible Property means any of the following property or assets of the Debtor:

Ineligible Property means any property within the City that is not defined as an Eligible Property;

Ineligible Property means: land; inventories; supplies; tools; furnishings and other forms of movable personal property; vehicles; vessels; aircraft; housing; hotel accommodations; Deferred Maintenance investments; property to be rented or leased except as provided in Section 2(j); improvements for the transmission of electrical energy not wholly consumed by a New Facility or expansion; any improvements, including those to produce, store or distribute natural gas, fluids or gases, which are not integral to the operation of the Facility; improvements to real property which have an economic life of less than 15 years; property owned or used by the State of Texas or its political subdivisions or by any organization owned, operated or directed by a political subdivision of the State of Texas; unless specifically authorized by any Eligible Jurisdiction.

Ineligible Property means property that may not be extended an abatement. Ineligible property includes land and any other property type not classified as “Eligible Property”.

Ineligible Property means property that shall be fully taxable and ineligible for abatement. Ineligible property includes land, inventories, supplies, furnishings or other forms of movable personal property, vehicles, deferred maintenance investments and residential property.