|
<br />,_ ..r. , I
<br />" t. ,I
<br />
<br />e
<br />
<br />'.e.
<br />
<br />Nothing herein contained shall ever be interpreted as lessening the
<br />authority of the Harris County Appraisal District to establish the
<br />appraised value of La~d, improvement~;, and tangible personal
<br />pr~perty in the an~exed portion, for ad valorem tax purposes.
<br />
<br />III.
<br />
<br />A. On or before April 15, 2001, and on or before each April 15th
<br />thereafter, unless an extension is gran1:ed in accordance with the
<br />Texas Property Tax Code, through and including April 15, 2007,
<br />Company shall provide City with a writtun'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 Rendition on a Harris County Appraisal District rendition
<br />form, or simili;lr form. The propertie,s. which the comp,any must
<br />render and upon which the "in lieu of" ti!lXeS 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");
<br />provided, however, pollution control equipment installed on the
<br />Land which is exempt from 'ad valorem 'taxation pursuant to the
<br />provisions of Sec. 11.31 of the Texas Property Ta~ Code is exempt
<br />from ad valorem taxation and "in lieu of taxes" hereunder. 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 appecll under the terms of this
<br />Agreement.
<br />
<br />B. As part of its re~dition, Company shall furnish ,to city a
<br />written report of the names and addrElsses of all persons and
<br />entities who store any tangible personal prpperty on the Land by
<br />bailment, lease, consignment, or other alrrangement 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,' 2001, or 30 days from
<br />mailing of tax bill and in like manner cln or before each December
<br />31st thereafter, through and including December 31, 2007, Company
<br />shall pay to city an amount "in lieu of' taxes" on Company's
<br />Property as of, .;January 1st of the CUrrli!nt calendar year ("Value,
<br />Year").
<br />
<br />D. Company agrees to render to ci ~y and. pay an amount "in .lieu of ,
<br />taxes" on Company's Land, improvements and tangible personal
<br />property in the unannexed area equal to the sum of:
<br />
<br />1. Fifty-three percent (53%) of the amount of ad valorem
<br />taxes which would be payable, to city. if all of the
<br />company' s Land and improvement:; which existed on January
<br />1, 2001, and each January. 1 thElreafter of the applicable
<br />Value Ye'ar during the term of t:his Agreement, (excluding
<br />amounts payable pursuant to subparagraph 2, belqw), had
<br />been within the corporate limits of City and appraised
<br />
<br />3
<br />
|