Payment in lieu of taxes means those estimated tax revenues from real property in a redevelopment project area derived from real property that has been acquired by a municipality which according to the redevelopment project or plan is to be used for a private use which taxing districts would have received had a municipality not acquired the real property and adopted tax increment allocation financing and which would result from levies made after the time of the adoption of tax increment allocation financing to the time the current equalized value of real property in the redevelopment project area exceeds the total initial equalized value of real property in said area.
Payment in lieu of taxes means those estimated tax
Payment in lieu of taxes means an amount referred to in subparagraph 24 ii of subsection 3 (1) of the Assessment Act, taxes for municipal and school purposes payable by a designated electricity utility within the meaning of section 19.0.1 of the Assessment Act or by a corporation referred to in clause (d) of the definition of “municipal electricity utility” in section 88 of the Electricity Act, 1998 or an amount that a local municipality receives under,
Examples of Payment in lieu of taxes in a sentence
Payment in lieu of taxes represents a contractual promise to make payment of property taxes which reflect all or a portion of the taxes which would have been paid if the taxes had not been exempted.
PAYMENT IN LIEU OF TAXES - GUIDELINES The following are guidelines the Agency uses to determine in Payment in lieu of taxes.
Payment in lieu of taxes and grants not received within the available period, grants and entitlements received before the eligibility requirements are met, and delinquent property taxes due at June 30, 2014, are recorded as deferred inflows on the governmental fund financial statements.
The monthly rates for this schedule shall be the sum of the following charges: Description UnitComponent ChargeBilled Charge (including PILOT)(1) Payment in lieu of taxes (PILOT) and franchise.
Payment in lieu of taxes, as provided for by 65 ILCS 5/11-74.4-3(q)(9).
More Definitions of Payment in lieu of taxes
Payment in lieu of taxes means one or more payments made to the county at the times and in the amounts as the county, and entity or entities which will initially make the payment in lieu of taxes, may agree, pursuant to a transfer of title to the property which is subject to such payments to the county, and a lease of the property by the county to the entity or entities which will initially make such payments.
Payment in lieu of taxes means those estimated revenues from real property and
Payment in lieu of taxes means an amount that a local municipality is eligible to receive in lieu of taxes in a year in respect of real property that is exempt from taxation under the Assessment Act, where the amount is equal to the taxes for municipal or for municipal and school purposes that would have been payable in respect of that real property in that year if the real property had been taxable. 2017, c. 10, Sched. 1, s. 49.
Payment in lieu of taxes means a payment with respect to real and personal property located in a development or redevelopment district and owned in title by this state, a political subdivision of this state or an agency or instrumentality thereof, that is made by the lessee of such property pursuant to a written payment in lieu of taxes agreement, whether in effect as of, or subsequent to, the date of creation of the development or redevelopment district.
Payment in lieu of taxes means a payment with respect to real and personal property
Payment in lieu of taxes means those estimated revenues from real property and tangible personal property having a tax situs in the area selected for a development or redevelopment project which revenues, according to the development or redevelopment project or plan, are to be used for a private use, which levying bodies would have received had a county or municipality not adopted one or more tax increment financing plans and which would result from levies made after the date of adoption of a tax increment financing plan during the time the current assessed value of all taxable real and tangible personal property in the area selected for the development or redevelopment project exceeds the total base assessed value of all taxable real and tangible personal property in the development or redevelopment district until the designation is terminated as provided in this article a payment with respect to real and personal property located in a development or redevelopment district and owned in title by this state, a political subdivision of this state or an agency or instrumentality thereof, that is made by the lessee of such property pursuant to a written payment in lieu of taxes agreement, whether in effect as of, or subsequent to, the date of creation of the development or redevelopment district.
Payment in lieu of taxes means an authorized payment made by the owner of an Affordable