Laserfiche WebLink
payments hereunder. Therefore, the parties agree that the <br />appraisal of the Land, improvements, and tangible personal <br />property in the unax~.nexed area shall be conducted by City, at <br />City's expense, by an independent appraiser of City's selection. <br />The parties recognize that in making such appraisal far "in lieu" <br />payrrEent purposes, such appraiser must of necessity appraise the <br />entire (annexed and unannexed) Land, improvements, and tangible <br />personal property. <br />Nothing herein contained shall ever be interpreted as lessening <br />the authority of the Harris County Appraisal District to establish <br />the appraised value of Land, improvements, and tangible personal <br />property in the annexed portion, for ad valorem tax purposes. <br />III. <br />A. The properties upon which the "in lieu. of°' taxes are assessed <br />are more fully described in subsections 11 2, and 3 of subsect~.on <br />C, of this Paragraph III (sometimes collectively called the <br />"property"}; provided, however, pollution control equipment <br />installed on the Land which is exempt from ad valorem taxation <br />pursuant to the provisions of dec. 11.31 of the Texas Property Tax <br />Cade is exempt from ad valorem taxation and "in lieu of taxes" <br />hereunder. Property included in this Agreement shall net be <br />entitled to an agricultural use exemption for purposes of <br />camp2a.ting "in lieu of taxes" hereunder. <br />B.. On or before the later of December 31, 2008, or 30 days from <br />mailing of tax bill anal in like manner on ar before each December <br />31st thereafter, through and including December 31, 2019, Company <br />shall pay to City an amount of "in lieu of taxes" on. Company's <br />Property as of January 1st of the current calendar year ~"Va.lue <br />Year" } . <br />C. Company ,.and City. agree that the followir~.g percentages <br />("Percentage Amount!°} shall apply during each of the Value Years: <br />Value Year 2008: 62% <br />Value Year 2009: 62•°s <br />Value Year 2010: 62% <br />Value Year 2011: 62% <br />Value Year 2012: 62% <br />Value Year 2013: 52% <br />Value 'Year 2 014 : 63 % <br />Value Year 2D15: 63% <br />Value Year 2016: 63% <br />Value Year 2017. 63% <br />Value Year 2018:• 630 <br />Value Year 2019: 53% <br />Company agrees to pay to City an amount of "in lieu of <br />taxes" on Company's land, improvements and tangible <br />personal property in the unannexed area equal to the sum <br />of . <br />3 <br />