Debt loss definition

Debt loss means, for a municipality that is not a local school district, intermediate school district, or tax increment finance authority, the amount of ad valorem property taxes and any specific tax levied for the payment of principal and interest of obligations either approved by the voters before January 1, 2013 or incurred before January 1, 2013 pledging the unlimited or limited taxing power of the municipality that are lost as a result of the exemption of industrial personal property and commercial personal property under sections 9m, 9n, and 9o of the general property tax act, 1893 PA 206, MCL 211.9m, 211.9n, and 211.9o.
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Debt loss means, for a municipality that is not a local school district or intermediate school district, the amount of ad valorem property taxes and tax increment revenues required to pay the principal and interest of obligations incurred before 2013 pledging the tax increment revenues or the unlimited or limited taxing power of the municipality, that are lost from the exemptions provided by sections 9m, 9n, and 9o of the general property tax act, 1893 PA 206, MCL 211.9m, 211.9n, and 211.9o.
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Debt loss means, for a municipality that is not a local
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Examples of Debt loss in a sentence

  • Debt loss must be formally recognized in a manner commensurate with the devaluation of loan collateral—the homes that secure the home loans.

  • A full Debt loss provision of $272,595 was recorded as of June 30, 2019.

  • Debt loss An expense resulting from the estimated loss on potentially uncollectible accounts receivable.

  • Losses are classified as either debt loss or non-debt loss, as follows:• Debt Loss - Debt loss is defined as the amount of ad valorem and dedicated taxes that go toward debt that are lost as a result of the personal property tax exemption.

Related to Debt loss

  • Net Loss means, for each fiscal year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period as determined for federal income tax purposes by the General Partner, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

  • Modification Loss Amount With respect to each Payment Date, the excess, if any, of the aggregate Modification Shortfall over the aggregate Modification Excess for such Payment Date.

  • Floating Profit/Loss means current profit/loss on Open Positions calculated at the current Quotes.