Tax Year shall mean each period of twelve months, commencing on the first day of July, in which occurs any part of the Term or such other period as may hereafter be adopted as the fiscal year for real estate tax purposes in Lancaster, Pennsylvania.
Distributing shall be responsible for preparing and filing (or causing to be prepared and filed) all Combined Returns for any Tax Year.
Buyer shall have the right to control the progress of and to make all decisions with respect to any tax contest of the real estate taxes and personal property taxes for the Property due and payable during all Tax Years subsequent to the Closing Tax Year.
In no event shall any unrestricted dividend equivalent or other distribution be paid later than 21/2 months after the Tax Year in which the record date for the dividend or distribution occurs.
Lessor shall annually provide to the LCO all relevant tax records for determining whether a tax adjustment is due, irrespective of whether it seeks an adjustment in any Tax Year.
If the Lease terminates before the end of a Tax Year, or if rent has been suspended, payment for the real estate tax increase due because of this section for the Tax Year will be prorated based on the number of days that the Lease and the rent were in effect.
More definitions of Tax Year
Tax Year means the calendar year following the July first assessment day.
Tax Year means April 1 to March 31. 3. Tax Increment Financing Overview and Value Tax Increment Financing (TIF) is the most flexible economic development program available to municipalities. TIFs support municipal investment, as well as can be associated with private sector or affordable housing investment. TIFs are flexible municipal financing tools to fund the following types of activities to support public and private sector investment: public infrastructure projects; economic development programs, including municipal marketing and staff; and, support of individual private commercial and affordable housing project financing needs. The two property tax components associated with TIF Districts include:
Tax Year means a period of 12 months beginning July 1 and ending the following June 30. [1957 c.384 SS2; 1975 c.651 SS1; 1985 c.476 SS1; 1991 c.459 SS267; 1993 c.803 SS1; 1999 c.501 SS1; 2005 c.94 SS91]