Maximum Special Tax definition
Examples of Maximum Special Tax in a sentence
On each July 1, commencing on July 1, 2025 and thereafter, the Maximum Special Tax Rate for such tax zone shall be increased by the percentage change in the November annualized Consumer Price Index for Los Angeles-Long Beach-Anaheim for all Urban Consumers.
On each July 1, commencing on July 1, 2023 through and including July 1, 2024, the Maximum Special Tax Rate for the applicable tax zone (which applies to the Property) shall be increased by 7%.
On each July 1, commencing on July 1, 2025 and thereafter, the Maximum Special Tax Rate for the applicable tax zone (which applies to the Property) shall be increased by the percentage change in the November annualized Consumer Price Index for Los Angeles-Long Beach- Anaheim for all Urban Consumers.
If any Square Footage that had been taxed as For-Sale Residential Square Footage, Rental Residential Square Footage, Office/Hotel Square Footage, or Retail Square Footage in a prior Fiscal Year is rezoned or otherwise changes Land Use, the Administrator shall apply the applicable subsection in Section C.2 to calculate what the Maximum Special Tax would be for the Parcel based on the new Land Use(s).
In addition, this Base Maximum Special Tax, escalated each Fiscal Year by two percent (2%) of the amount in effect in the prior Fiscal Year, shall be used to calculate the Maximum Special Tax for all future Converted For- Sale Units within the Building.