O/M Tax definition

O/M Tax means an ad valorem tax levied at the rate of not to exceed $0.30 per$100.00 of net assessed limited property valuation against all real and personal taxable property in the District; provided that such O/M Tax rate may be increased in accordance with the Act.
Sample 1

Examples of O/M Tax in a sentence

  • The District shall only levy the O/M Tax in an amount necessary for the District Expenses and the O/M Expenses reflected in the District Budget for the applicable Fiscal Year of the District and only in reasonable amounts therefor.

  • The obligation of Brookfield Homes and the Developer, or HOA, to pay the Shortfall pursuant to this Section shall only be effective until May 1 after the levy of the O/M Tax at $0.30 per $100.00 of net assessed limited property value results in actual collections equal to or greater than $250,000 for three consecutive Fiscal Years, and such collections are sufficient to pay all District Expenses reflected in the respective District Budget for such three consecutive Fiscal Years.

Related to O/M Tax

  • Business Day means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized or required by law to remain closed.

  • Person means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

  • Contract means the written agreement entered into between the purchaser and the supplier, as recorded in the contract form signed by the parties, including all attachments and appendices thereto and all documents incorporated by reference therein.

  • Services means those functional services ancillary to the supply of the goods, such as transportation and any other incidental services, such as installation, commissioning, provision of technical assistance, training, catering, gardening, security, maintenance and other such obligations of the supplier covered under the contract.

  • Board means the Board of Directors of the Company.

  • Affiliate of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

  • Confidential Information has the meaning set forth in Section 6.1.

  • Company has the meaning set forth in the Preamble.