PILOT Year definition

PILOT Year means the first tax year following the Taxable Status Date after the Completion Date and each year thereafter for a total of twenty (20) years in accordance with the Schedule of PILOT Payments. For example, if the Completion Date was prior to March 1, 2022, the Initial PILOT Year would include the

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

PILOT Year means the first tax year following the Taxable Status Date after the Completion Date. For example, if the Completion Date was prior to March 1, 2020, the Initial PILOT Year would include the

PILOT Year means each twelve‐month period of the solar photovoltaic pilot program beginning on April 1. Year one of the pilot program is April 1, 2010 to March 31, 2011; year two of the pilot is April 1, 2011 to March 31, 2012, etc.

Examples of PILOT Year in a sentence

The abatement schedule shall allow for a one hundred percent (100%) exemption from taxation for the Added Value in PILOT Year 1, with such exemption being eliminated by five percent (5%) thereafter on an annual basis.
In the PILOT Year in which a Base ---------------------------- Increment Condition occurs, the Annual PILOT Amount for that PILOT Year shall be increased by an amount equal to the product of (i) the First or Second Base Increment Amount, whichever is applicable, multiplied by (ii) a fraction having a numerator equal to the number of days remaining in that PILOT Year after the applicable Base Increment Condition occurred and a denominator equal to 365.
After the tenth PILOT Year, the 2011 Project Facility shall not be subject to any abatement, with 2011 Total PILOT Payments for PILOT Years 11-21 to be reflective of full taxation by the affected taxing jurisdictions on the 2011 Base Value and 2011 Added Value ($3,195,900.00, and herein, the 2011 Total Taxable Valuation).
The term “Base Amount” shall be as identified in Schedule A as the Base Amount with respect to each PILOT Year set forth on Schedule A.
To the extent the County fails to timely pay the State Real Property Tax for any PILOT Year (in whole or in part), and the State seeks payment of the State Real Property Tax for that PILOT Year (in whole or in part) from Lanyard or its affiliates, the County agrees to compensate Lanyard or its affiliates for all of its expenses, including and not limited to, the State Real Property Tax, penalties, interest and attorney fees, provided ▇▇▇▇▇▇▇ made the PILOT payment as set forth herein.

More Definitions of PILOT Year

PILOT Year means each period of 12 months, commencing on the first day of July of each such period, in which occurs any part of the Term.

PILOT Year means (A) in the event that the Delivery Date does not occur on January 1, the period from the Delivery Date through the second December 31 thereafter (such period, the “First PILOT Year”),and (B) each twelve (12) calendar month period commencing on the first January 1 following the First PILOT Year and on each anniversary thereof.

PILOT Year means each twelve-month period of the solar photovoltaic pilot program beginning on April 1 and ending on March 31.

PILOT Year means each twelve (12) month period, commencing on the first day of July of each such period occurring during the Term hereof or such other 12 month period as may hereafter be adopted as the fiscal year for PILOT payment purposes by the City of New York.

PILOT Year shall have the meaning set forth in Section 33.03.

PILOT Year. (for the purposes of determining the applicable Incremental PILOT amount in the tables below) shall mean the first tax year following the Completion Date. For example, if the Completion Date is prior to March 1, 2025, the Initial PILOT Year would include the 2025/2026 School District PILOT, the 2026 County PILOT, the 2026 Town PILOT, the 2026 Special Districts PILOT (collectively the “Initial PILOT Year”) shall become due, and annually thereafter for a total of twenty (20) years in accordance with the Schedule of PILOT Payments. “Schedule of Exemptions and Calculation of PILOTs” – Phased Development. This Project is being developed in four (4) phases. Separate PILOT Schedules shall be applied to each separate phase. For the purposes of implementing the PILOT Schedule herein, the Completion Date for each phase shall be the date upon which a Temporary Certificate of Occupancy, or, in the case of a phase with multiple buildings, a Temporary Certificate of Occupancy for the first completed building, has been issued. During the Construction Period for each phase, the PILOT Payment shall be the equivalent of the real property taxes and Special District taxes that would have been levied upon the Land (without the Facility or any Improvements) if the Land were owned by the Company and the Agency had no ownership interest. After the Completion Date for each phase, the Initial PILOT Payment shall be the Base PILOT Amount for the applicable year on the attached schedule plus the Year 1 Incremental PILOT Payment on the attached schedule plus the Special District PILOT. For example, if the Phase I Completion Date is February 28, 2023, the Phase I PILOT Payment shall equal: $12,310 (the 2024 Base PILOT Amount) + $1,345 (the Year 1 Incremental PILOT Amount) + the 2024 Special District PILOT.

PILOT Year means, with respect to a Participating Site, any period commencing on the PILOT Commencement Date, or any anniversary thereof, and ending on the earlier of: (i) the day before the next anniversary of the PILOT Commencement Date; or (ii) the PILOT Expiration Date.