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93-IDA-16
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93-IDA-16
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6/25/2007 10:36:05 AM
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La Porte TX
Document Type
Ordinances
Date
1/10/1994
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<br />e <br /> <br />e <br /> <br />property in the annexed portion, for ad valorem tax purposes. <br /> <br />III. <br /> <br />A. On or before April 15, 1994, and on or before each April 15th <br />thereafter, unless an extension is granted. in accordance with the <br />Texas property Tax Code, through and including April 15, 2000, <br />Company shall provide City with a written description of its Land <br />and all improvements and tangible personal property located on the <br />Land as of the immediately preceding January 1st, stating its <br />opinion of the Property's market value,' and being sworn to by an <br />authorized officer of the Company authorized to do so, or company's <br />duly authorized agent, (the company's "Rendition"). Company may <br />file such Rendit~on on a Harris County Appraisal District rendition <br />form, or similar form. The properties which the Company must <br />render and upon which the "in lieu of" taxes are assessed are more <br />fully described in subsections 1, 2, and 3 of subsection D, of this <br />paragraph III (sometimes collectively called the "Property"). A <br />failure by Company to file a Rendition as provided for in this <br />paragraph, shall constitute a waiver by Company for the current tax <br />year, of all rights of protest and appeal under the terms of this <br />Agreement. <br /> <br />B. As part of its rendition, Company shall furnish to city a <br />written report of the names and addresses of all persons and <br />entities who store any tangible personal property on the Land by <br />bailment, lease, consignment, or other arrangement with Company <br />("products in storage"), and are in the possession or under the <br />management of Company on January 1st of each Value Year, further <br />giving a description of such products in storage. <br /> <br />C. On or before the later of December 31, 1994, or 30 days from <br />mailing of tax bill and in like.manner on or before each December <br />31st thereafter, through and including December 31, 2000, Company <br />shall pay to City an amount "in lieu of taxes" on company's <br />Property as of January 1st of the current calendar year ("Value <br />Year"). <br /> <br />D. Company agrees to render to city and pay an amount "in lieu <br />of taxes" on company's Land, improvements and tangible personal <br />property in the unannexed area equal to the sum of: <br /> <br />1. (a) Fifty percent (50%) of the amount of ad valorem <br />taxes.which would be payable to City if all of the <br />company's Land and improvements which existed on <br />January 1, 1994, January 1, 1995, and January 1, <br />1996, had been within the corporate limits of City <br />and appraised each year by City'S independent <br />appraiser; and <br /> <br />(b) Fifty-three percent (53%) of the amount of ad <br />valorem taxes which would be payable to City if all <br />of the company's Land and improvements which existed <br />on January 1, 1997, January 1, 1998, January 1, <br />1999, and January 1, 2000, had been within the <br />corporate limits of city and appraised each year by <br /> <br />3 <br /> <br />-- <br />
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