Class of property definition

Class of property means property classified for property tax purposes as provided pursuant to Section 1, Article X of the Constitution of this State and as further permitted in Section 12‑43‑220. Property subject to a fee in lieu of property taxes, as defined in Chapter 12, Title 4 is not included in this definition of a class of property. All classes of property are provided a credit against property tax liability as provided in this article.
Sample 1Sample 2Sample 3
Class of property means a class of real property established in accordance with Section 8-7.1(c). “Estimated uncontrollable cost adjustment” means a factor representing costs that the city is mandated or
Sample 1Sample 2Sample 3
Class of property means class of property as defined in the Prescribed Classes of Property Regulation, B.C. Reg. No. 438/81 or similar enactment as it exists from time to time;
Sample 1Sample 2Sample 3

Examples of Class of property in a sentence

  • The duration of a period of customer use that includes the last day of a taxable year may be determined on the basis of reasonable estimates.(E) Class of property.

  • The useful lives estimated for the major classes of property, plant and equipment are as follows: Class of property, plant and equipmentThe useful lives have been determined based on technical evaluation done by the management’s experts, which in some cases may differ from the lives as specified by Schedule II to the Companies Act, 2013.

  • Class of property, plant and equipment Depreciation ratePlant and equipment 15%Website development costs 25%Computer hardware 33.33%Motor vehicles 25%Right of use assets Useful life or shorter of lease term Notes to the consolidated financial statements for the year ended 30 June 2021 2.

  • Class of property Valuation techniqueFair value Freehold - external valuation Level 2 Market value£16,764,428Leasehold over 50 years - external valuationLevel 2Market value 7,200,000 23,964,428 The directors believe that the open market value of the investment properties as at 30 April 2015 is £23,964,428 (2014: £10,032,267).

  • Class of property The investment property segment defined as Other consists of one commercial property of which the Company has a 50% ownership.

  • Upon roll call vote where all members voted affirmatively, the motion carried and the FY2017 budget was approved.Mr. White presented a resolution authorizing the borrowing of up to $2,500,000 in general obligation promissory notes.

  • Any increase to the tax burden to Commercial would be offset by a decrease in the taxes paid by the Residential Class of property owners.

  • Property, plant and equipment (continued) Landplots Realestate Infrastruc-ture assets Vehicles Class of property, plant and equipmentAll of the Group’s property, plant and equipment as at 31 December 2018 and 2017 are included in Level 3 fair value measurement which techniques use unobservable inputs in valuation.

  • The depreciation rates used for each class of assets are: Class of property, plant & equipment Depreciation Freehold building 2.5% Straight line Plant and equipment 10% -35% Straight line Computers and office equipment 33.3% Straight line Furniture and fittings 20% Straight line Motor vehicles 25% Straight line Gains and losses on disposals are determined by comparing proceeds with the carrying amount.

  • The Manufacturing Class of property is assessed by DOR annually at 100% of market value.


More Definitions of Class of property

Class of property means class of property as defined in the Prescribed Classes of Properly Regulation, B.C. Reg. No. 438/81.
Sample 1Sample 2Sample 3
Class of property means a grouping of assets of a similar nature or function in the Municipality’s operations, that is shown as a single item for the purpose of disclosure in the financial statements;
Sample 1
Class of property means residential improved, commercial improved, residential vacant, or commercial vacant.
Sample 1
Class of property means each class of property described in the table contained in § 168(j)(2) (for example, 3-year prop- erty). As set forth in Rev. Proc. 2017-33, 2017-19 I.R.B. 1236, the § 168(j)(8) elec-
Sample 1
Class of property means residential under s. 70.32 (2)
Sample 1

Related to Class of property

  • Other Properties shall have the meaning set forth in Section 9.1.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Other Property shall have the meaning set forth in Section 4.4.

  • Qualified Property has the meaning set forth in Section 313.021(2) of the TEXAS TAX CODE and as interpreted by the Comptroller’s Rules and the Texas Attorney General, as these provisions existed on the Application Review Start Date.

  • Physical Property has the meaning assigned to such term in the definition of “Delivery” above.

  • Public Property means any and all property owned by the City or held in the name of the City by any of the departments, commissions or agencies within the City government.

  • Income Property means, in respect of each Sub-Fund, (a) all interest, dividends and other sums deemed by the Trustee, (after consulting the auditors either on a general or case by case basis), to be in the nature of income (including taxation repayments, if any) received or receivable by the Trustee in respect of the Deposited Property of the relevant Sub-Fund (whether in cash or, without limitation, by warrant, cheque, money, credit or otherwise or the proceeds of sale or transfer of any Income Property received in a form other than cash); (b) all interest and other sums received or receivable by the Trustee in respect of (a), (c) or (d) of this definition; (c) all cash payments received or receivable by the Trustee for the account of the relevant Sub-Fund in respect of an Application; and (d) all Cancellation Compensation received by the Trustee for the account of the relevant Sub-Fund; (e) any payments to be received or are receivable by the Trustee under any contractual agreements in the nature of investments for the benefit of the relevant Sub-Fund but excluding (i) the Deposited Property; (ii) any amount for the time being standing to the credit of the distribution account for the account of the relevant Sub-Fund or previously distributed to Unitholders; (iii) gains for the account of the relevant Sub-Fund arising from the realisation of Securities; and (iv) any sums applied towards payment of the fees, costs and expenses payable by the Trust from the Income Property of the relevant Sub-Fund;

  • Permitted Assets means any and all properties or assets that are used or useful in a Permitted Business (including Capital Stock in a Person that is a Restricted Subsidiary and Capital Stock in a Person whose primary business is a Permitted Business that shall become a Restricted Subsidiary immediately upon the acquisition of such Capital Stock by the Issuer or by a Restricted Subsidiary, but excluding any other securities).

  • Undeveloped Property means all Assessor’s Parcels of Taxable Property which are not Developed Property.

  • New property means (i) the assessed value, after final

  • Property means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible.

  • Existing Property means all property against which ad valorem property taxes were levied by a local unit for its concluding fiscal year, minus all property that is considered losses for purposes of ad valorem property tax levies of the local unit for the ensuing fiscal year.

  • Real Property Interests means all interests in Owned Real Property and Leased Real Property, including fee estates, leaseholds and subleaseholds, purchase options, easements, licenses, rights to access, and rights of way, and all buildings and other improvements thereon and appurtenant thereto, owned or held by Sellers that are used in the business or operations of the Stations, together with any additions, substitutions and replacements thereof and thereto between the date of this Agreement and the Closing Date, but excluding the Excluded Real Property Interests.

  • Replacement Property means any property which is placed in service as a replacement for any item of Equipment or any Improvement previously subject to this Fee Agreement regardless of whether such property serves the same functions as the property it is replacing and regardless of whether more than one piece of property replaces any item of Equipment or any Improvement to the fullest extent that the FILOT Act permits.

  • Foreclosed Property The Property or other Collateral securing the Mortgage Loan, title to which has been acquired by the Special Servicer on behalf of the Trust and the Companion Loan Holders through foreclosure, deed in lieu of foreclosure or otherwise in the name of the Trustee or its nominee.

  • Operating Assets means all merchandise inventories, furniture, fixtures and equipment (including all transportation and warehousing equipment but excluding office equipment and data processing equipment) owned or leased pursuant to Capital Leases by the Company or a Restricted Subsidiary.

  • Excepted Property has the meaning specified in the granting clauses of this Indenture.

  • Developed Property means all Assessor’s Parcels of Taxable Property for which Building Permits were issued on or before May 1 of the prior Fiscal Year, provided that such Assessor's Parcels were created on or before January 1 of the prior Fiscal Year and that each such Assessor's Parcel is associated with a Lot, as determined reasonably by the Board.

  • Related Assets Any assets held by a Trust the return of which is linked to one or more Underlying Securities and which, if applicable, shall be described in the related Supplement or a schedule thereto.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Receivables Related Assets means accounts receivable, instruments, chattel paper, obligations, general intangibles and other similar assets, in each case relating to receivables subject to the Permitted Receivables Facility, including interests in merchandise or goods, the sale or lease of which gave rise to such receivables, related contractual rights, guaranties, insurance proceeds, collections and proceeds of all of the foregoing.

  • newly rateable property means any rateable property on which property rates were not levied before the end of the financial year preceding the date on which this Act took effect, excluding –

  • Surplus property means excess personal property not required by any Federal agency as determined by the Administrator of the General Services Administration (GSA).

  • Collateral Substitution has the meaning specified in Section 3.13.

  • Permitted Receivables Related Assets means any other assets that are customarily transferred, sold and/or pledged or in respect of which security interests are customarily granted in connection with asset securitization transactions involving receivables similar to Receivables and any collections or proceeds of any of the foregoing (including, without limitation, lock-boxes, deposit accounts, records in respect of Receivables and collections in respect of Receivables).