Property tax increment definition

Property tax increment means the amount obtained by:

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Property tax increment means, for each Fiscal Year subsequent to the creation of the Property Tax Increment Area, all Property Tax Revenues in excess of Property Tax Revenues produced by the levy of Property Tax on the Property Tax Base Amount and paid to the Authority by the City; provided that such amount shall be reduced by any lawful collection fee charged by the City.

Property tax increment means the municipal Property Tax Increase as a result of developing or redeveloping a property.

Examples of Property tax increment in a sentence

• The County recognizes and agrees that in reliance on this Agreement and in accordance with the provisions of §31-25-109(12) of the Act, the adoption and approval of the Plan includes an irrevocable pledge of all of the Property Tax Increment Revenues, including the County Property Tax Increment, to pay the Authority’s Bonds and other financial obligations in connection with the Urban Renewal Project.

• The District shall authorize the remittance to the Agency, beginning with property tax receipts in Year One, and continuing through Year Ten, or until a cap of $957,957, whichever comes first, 50% of the annual Property Tax Increment generated from within the Project Area, including the real (e.g., buildings, land, and fixtures), personal, and centrally assessed property within the Project Area.

• If the County’s eligible electors approve a new or increased mill levy for any lawful purpose (“Future Mill Levy”), any revenue derived from the Future Mill Levy shall not be considered part of the County Property Tax Increment.

• From the date of such notice until the Duration has expired, the Authority shall annually deduct from the Property Tax Increment Revenue it receives any revenues attributable to the Future Mill Levy, as applicable, and shall remit such revenues to the County.

• As directed by Section ▇▇-▇▇-▇▇▇ (9)(a)(I) ofthe Act, the base value (the "Base Value") of the Urban Renewal Area for the purpose of calculating ad valorem Property Tax Increment Revenue is the date upon which the total assessed value of the Urban Renewal Area was last certified by the Assessor for La Plata County (the "Assessor") on December 10, 2021.

More Definitions of Property tax increment

Property tax increment means the property tax attributable to the eligible assessment of qualified property.

Property tax increment means the net amount paid over to the City by the Knox County Treasurer as the City’s share of the increment provided for under Section 8 of the Act and attributable to Property Tax Increment generated by a Project on a Redevelopment Site, unless said site is tax- exempt.

Property tax increment means the amount of property taxes paid to Fremont County for the Property and then remitted to the Authority by the Fremont County Treasurer pursuant to the Act over and above the amount of such taxes collected each year from the base assessed value last certified to Fremont County for the Property prior to the Authority’s implementation of property tax increment financing for the Property as authorized by the Act and the Plan.

Property tax increment means the difference between:

Property tax increment means 80% of the Tax Increment that is generated from the Developer Improvements that is paid to the Agency and available for reimbursement pursuant to the terms of this Agreement after deduction of all previously committed reimbursement obligations from the Property Tax Increment, except that the term “base taxable value” for the purposes of calculating Property Tax Increment under this Agreement shall mean the dollar amount specified in the definition of “Property Base Taxable Value” above and not the amount that would result from using the definition in the Act of such term.

Property tax increment means, for each Fiscal Year subsequent to the creation of the Property Tax Increment Area, all Property Tax Revenues in excess of Property Tax Revenues produced by the levy of Property Tax on the Property Tax Base Amount and paid to the Authority

Property tax increment means the property tax attributable to