Back taxes definition

Back taxes means the property taxes that would have been paid but for the existence of the property tax exemption during the three years immediately preceding the cancellation or removal of the exemption or during the life of the exemption, whichever is less, plus interest at the same rate and computed in the same way as delinquent property taxes. However, if the property was exempt under RCW 84.36.050(2), "back taxes" means the taxes that would have been collected but for the existence of the property tax exemption during the seven years immediately preceding the cancellation or removal of the exemption or during the life of the exemption, whichever is less.
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Back taxes means the property taxes that would have been paid but for the existence of the property tax exemption during the three years immediately preceding the cancellation or removal of the exemption or during the life of the exemption, whichever is less, plus interest at the same rate and ((computed)) calculated in the same way as delinquent property taxes((, see)). RCW 84.36.810. However, "back taxes" are calculated differently when an exemption is ((cancelled)) canceled or removed from property owned by a not-for-profit foundation established for the exclusive support of an institution of higher edu- cation under RCW 84.36.050(2) or a nature conservancy under RCW
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Examples of Back taxes in a sentence

  • For purposes of this rule, the following definitions apply:(a) "Back taxes" means the property taxes that would have been paid but for the existence of the property tax exemption during the three years immediately preceding the cancellation or removal of the exemption or during the life of the exemption, whichever is less, plus interest at the same rate and computed in the same way as delinquent property taxes, see RCW 84.36.810.

  • Back taxes and penalties based on new classification - If back taxes and penalties are due upon changing from one type of registration to another where the tax rate differs, back taxes and penalties shall be based on the rate in effect during the time the vehicle was not tagged, using the new type of classification.

  • Typically, delays are caused when: Back taxes are due.Liabilities to other state agencies or the IRS exist.Estimated payments claimed on the return do not correspond to what is on file with the Louisiana Department of Revenue for the taxpayer(s).The taxpayer has previously filed on paper.Address used does not correspond to division policy.Electronic return preparers must advise taxpayers of these possible delays in advertising and in any discussions about refund times.

  • Back taxes and inter- est will be collected only when ownership of property is transferred or when fifty-one percent or more of the total exempt property loses its exempt status.(a) Generally applied rollback - Three years of back taxes plus interest.

  • Back taxes and penalties.In the event a housing project is subject to taxes and penalties as provided in paragraph (2), the differences in the amount of taxes that were paid and those that would have been due but for the exemption allowed shall be payable, together with interest at 10 percent per annum, from the respective dates that these payments would have been due.

  • If the Property is under a special land use assessment and roll back taxes are assessed due to a change in use by Buyer, then Buyer shall be solely responsible for any "Roll Back" taxes that may be assessed.

  • Back taxes may be charged back to 2018 pay 2019 under IC 6-1.1-36-17 if an individual falsely receives the homestead.

  • Back taxes and interest will be collected only when ownership of property is transferred or when fifty-one percent or more of the total exempt property loses its exempt status.(a) Generally applied rollback - Three years of back taxes plus interest.

  • Back taxes & Greenbelt rollback taxes, if any, will be paid by the Seller.

  • Back taxes and inter- est will be collected only when ownership of property is transferred or when fifty-one percent or more of the total exempt property loses its exempt status.(a) Generally applied rollback - three years of back taxes plus interest.

Related to Back taxes

  • Excluded Taxes means any of the following Taxes imposed on or with respect to any Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Section 11.13) or (ii) such Lender changes its Lending Office, except in each case to the extent that, pursuant to Section 3.01(a)(ii), (a)(iii) or (c), amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its Lending Office, (c) Taxes attributable to such Recipient’s failure to comply with Section 3.01(e) and (d) any U.S. federal withholding Taxes imposed pursuant to FATCA.

  • Consolidated Taxes means, with respect to any Person for any period, the provision for taxes based on income, profits or capital, including, without limitation, state, franchise, property and similar taxes, foreign withholding taxes (including penalties and interest related to such taxes or arising from tax examinations) and any Tax Distributions taken into account in calculating Consolidated Net Income.

  • Non-Excluded Taxes as defined in Section 2.20(a).

  • Estimated taxes means the amount that the taxpayer reasonably estimates to be the taxpayer's tax liability for a municipal corporation's income tax for the current taxable year.

  • Taxes means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

  • Special Taxes means any and all present or future taxes, levies, imposts, deductions, charges or withholdings, or any liabilities with respect thereto, including those arising after the date hereof as result of the adoption of or any change in law, treaty, rule, regulation, guideline or determination of a Governmental Authority or any change in the interpretation or application thereof by a Governmental Authority but excluding, in the case of Lender, such taxes (including income taxes, franchise taxes and branch profit taxes) as are imposed on or measured by Lender’s net income by the United States of America or any Governmental Authority of the jurisdiction under the laws under which Lender is organized or maintains a lending office.

  • Local taxes means all taxes levied other than taxes levied for school operating purposes.