Tax Rollback definition

Tax Rollback means the tax treatment contemplated by MCL 432.212(7).
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Tax Rollback means the tax treatment contemplated by M.C.L.
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Examples of Tax Rollback in a sentence

  • The TIF Fund will remain in existence so long as the Service Payments and Property Tax Rollback Payments are collected and used for the aforesaid purposes, after which time the TIF Fund will be dissolved and any surplus funds remaining therein transferred to the City's General Fund, all in accordance with ORC 5709.43.

  • The Service Payments, and any other payments with respect to each Improvement that are received in connection with the reduction required by ORC 319.302, 321.24, 323.152 and 323.156, as the same may be amended from time to time, or any successor provisions thereto as the same may be amended from time to time (the “Property Tax Rollback Payments”), will be deposited and distributed in accordance with Section 6.

  • Payments to taxing subdivisions have been made in amounts approximately equal to the Homestead and Property Tax Rollback Exemptions granted.

  • This Council establishes, pursuant to and in accordance with the provisions of ORC 5709.43, the NASA Site TIF Municipal Public Improvement Tax Increment Equivalent Fund (the “TIF Fund”), into which the Service Payments and Property Tax Rollback Payments collected with respect to the Parcels will be deposited.

  • To each of the Berea City Schools and the Polaris Career Center, an amount equal to the amount the school district would otherwise receive as real property tax payments (including the applicable portion of any Property Tax Rollback Payments) derived from the Improvement to each Parcel if the Improvement had not been exempt from taxation pursuant to this ordinance.

  • This Council establishes, pursuant to and in accordance with the provisions of ORC 5709.43, the Victoria Place Urban Redevelopment Tax Increment Equivalent Fund (the “TIF Fund”), into which the Service Payments and Property Tax Rollback Payments collected with respect to the Parcels will be deposited.

  • The Fund shall remain in existence so long as such Service Payments and Property Tax Rollback Payments are collected and used for the aforesaid purposes, after which time said Fund shall be dissolved and any surplus funds remaining therein transferred to the City’s General Fund, all in accordance with Ohio Revised Code Section 5709.43.

  • Pursuant to the DRD Statutes, the County Treasurer is requested to distribute the Service Payments and the Property Tax Rollback Payments to the City for deposit into the Funds to be used to pay costs described in division (E) of section 5709.45 of the Revised Code and in the attached Economic Development Plan.

  • The Property Tax Rollback Exemption applies to all non-business properties, and reduces each property owner’s ad valorem property tax liability by either 12.5% (for owner-occupied non- business properties) or 10% (for non-owner non-business occupied properties).

  • This Council hereby authorizes and directs the City Manager, the Director of Finance, the Director of Law, the Clerk of Council or other appropriate officers of the City to make such arrangements as are necessary and proper for collection of the Service Payments and the Property Tax Rollback Payments.

Related to Tax Rollback

  • Tax roll means a permanent record of the taxes charged on property, as extended

  • Tax or “Taxes” means any federal, state, local or foreign income, gross receipts, property, sales, use, license, excise, franchise, employment, payroll, withholding, alternative or add on minimum, ad valorem, transfer or excise tax, or any other tax, custom, duty, governmental fee or other like assessment or charge of any kind whatsoever, together with any interest or penalty, imposed by any Governmental Entity.

  • Tax Act means the Income Tax Act (Canada).

  • MUNICIPAL TAXABLE INCOME means the following:

  • Tax Law means the law of any governmental entity or political subdivision thereof, and any controlling judicial or administrative interpretations of such law, relating to any Tax.

  • Straddle Tax Period means any taxable period beginning on or before and ending after the Closing Date.

  • child tax credit means a child tax credit under section 8 of the Tax Credits Act 2002;

  • Tax Revenue means, with respect to the Project Area, (a) those tax revenues referred to (1) in the last sentence of the first paragraph of Article VIII, Section 12 of the Constitution of the State and (2) in Section 18-2147, Reissue Revised Statutes of Nebraska, as amended, and (b) all payments made in lieu thereof.

  • input tax , in relation to a vendor, means—

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • Use tax means a nonrecurring tax, other than a sales tax, which (a) is imposed on or with respect to the exercise or enjoyment of any right or power over tangible personal property incident to the ownership, possession, or custody of that property or the leasing of that property from another including any consumption, keeping, retention, or other use of tangible personal property, and (b) is complementary to a sales tax.

  • Tax Information means information and/or properly completed and signed tax certifications sufficient to eliminate the imposition of or to determine the amount of any withholding of tax, including FATCA Withholding Tax.

  • Income Tax Act means the Income Tax Act, 1962 (Act No. 58 of 1962);

  • taxation year means the calendar year to which an assessment roll applies for the purposes of taxation;

  • Input Tax Credit means the credit of input tax;

  • Tax Year means a period beginning with 6th April in one year and ending with 5th April in the next;