Laserfiche WebLink
determined by the Harris County Appraisal District. The part <br />hereto recognize that said Appraisal District has no authority <br />appraise the Land, improvements, and tangible personal property <br />the unannexed area for the purpose of computing the "in li <br />payments hereunder. Therefore, the parties agree that -- <br />appraisal of the Land, improvements, and tangible perso: <br />property in the unannexed area shall be conducted by City, <br />City's expense, by an independent appraiser of City's selecti, <br />The parties recognize that in making such appraisal for "in li, <br />payment purposes, such appraiser must of necessity appraise <br />entire (annexed and unannexed) nand, improvements, and tangi: <br />personal property. <br />Nothing herein contained shall ever be interpreted as lesseni <br />the authority of the Harris County Appraisal District to establi <br />the appraised value of Land, improvements, and tangible person <br />property in the annexed portion, for ad valorem tax purposes. <br />A. The properties upon which the "in lieu of" taxes are assesse <br />are more fully described in subsections 1, 2, and 3 of subsectio <br />C, of this Paragraph III (sometimes collectively called th <br />"Property"); provided, however, pollution control equipmen <br />installed on the Land which is exempt from ad valorem taxatio <br />pursuant to the provisions of Sec. 11.31 of the Texas Property Ta <br />Code is exempt from ad valorem taxation and "in lieu of taxes <br />hereunder. Property included in this Agreement shall not b <br />entitled to an agricultural use exemption for purposes o <br />computing 'tin lieu of taxes" hereunder. <br />S. On or before the later of December 31, 2020, or 30 days frc <br />mailing of tax bill and in like manner on or before each Decembc <br />31st thereafter, through and including December 31, 2031, Compar <br />shall pay to City an amount of "'in lieu of taxes" on Company' <br />Property as of January 1st of the current calendar year ("Valli <br />Year") . <br />C. Company and City agree that the following percentag <br />("'Percentage Amount") shall apply during each of the Val <br />Years: <br />Value <br />Year <br />2020: <br />644 <br />Value <br />Year <br />2021: <br />64o <br />Value <br />Year <br />2022: <br />640 <br />Value <br />Year <br />2023: <br />640 <br />Value <br />Year <br />2024: <br />640 <br />Value <br />Year <br />2025: <br />646 <br />Value <br />Year <br />2026: <br />640 <br />Value <br />Year <br />2027: <br />640 <br />Value <br />Year <br />2028: <br />64 -% <br />Value <br />Year <br />2029: <br />6456' <br />Value <br />Year <br />2030: <br />640 <br />Value <br />Year <br />2031: <br />644 <br />Company agrees to pay to City an amount of " in lieu of <br />9 <br />