2007-IDA-134 Orangewater, LLC - Laserfiche WebLink

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payments hereunder. Therefore, the parties agree that the appraisal of the band, improvements, and tangible personal property in the unannexed area shall be conducted by City, at City's expense, by an independent appraiser of City's selection.. The parties recognize that in making such appraisal for "in lieu" payment purposes, such appraiser must of necessity appraise the entire (annexed and unannexed) Land, improvements, and tangible personal property. Nothing herein contained shall ever be interpreted as lessening the authority of the Harris County ,Appraisal District to establish the appraised value of Land, improvements, and tangible personal property in the annexed portion, for ad valorem tax purposes. III. A. The properties upon which the "in lieu of" taxes are assessed are more fully described in subsections 1, 2, and 3 of subsection C, of this Paragraph III (sometimes collectively called the "Property"); provided, however, pollution control equipment installed on the Land which is exempt from ad valorem taxation pursuant to the provisions of Sec. 11.31 of the Texas Property Tax Code is exempt from ad valorem taxation and "in lieu of taxes" hereunder. Property included in this Agreement shall not be entitled to an agricultural use exemption for purposes of Computing "in lieu of taxes" hereunder. S. on or before the later of December 31., 2008, or 30 days from mailing of tax bill and in like manner on or before each December 31st thereafter, through and including December 31, 2019, Company shall pay to City an amount of "in lieu of taxes" on Company's Property as of January lot of the current calendar year ("Value Year") . C. Company and City agree that the following percentages V%Percentage Amount") shall apply during each of the value Years: Value Year 2008: 62W Value Year 2009: 62W Value Year 2010: 62W Value Year 2011: 62W Value Year 2012: 62% Value Year 2013; 62* value Year 2014: 63* Value Year 2015: 63% Value Year 2016: 63* value Year 2617: 63% value Year 2618: 63% Value Year 20i9; 63% Company agrees to pay to City an amount of -in lieu of taxes" on Company's land, improvements and tangible personal prope�:•Gy in the unannexed area equal to the sum of: