Laserfiche WebLink
<br /> <br />that said Appraisal District has no authority to appraise the Land, <br />improvements, and tangible personal property in the unannexed area <br />for the purpose of computing the "in lieu" payments hereunder. <br />Therefore, the parties agree that the appraisal of the Land, <br />improvements, and tangible personal property in the unannexed area <br />shall be conducted by City, at City's expense, by an independent <br />appraiser of City's selection. The parties recognize that in <br />making such appraisal for "in lieu" payment purposes, such <br />appraiser must of necessity appraise the entire (annexed and <br />unannexed) Land, improvements, and tangible personal property. <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 Land, improvements, and tangible personal <br />property in the annexed portion, for ad valorem tax purposes. <br /> <br /> III. <br /> <br />A. The properties upon which the "in lieu of" taxes are assessed <br />are more fully described in subsections 1, 2, and 3 of subsection <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 Sec. 11.31 of the Texas Property Tax <br />Code is exempt from ad valorem taxation and "in lieu of taxes" <br />hereunder. Property included in this Agreement shall not be <br />entitled to an agricultural use exemption for purposes of computing <br /> <br /> <br />B. On or before the later of December 31, 2020, 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, 2031, 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 />C. Company and City agree that the following percentages <br /> <br /> <br /> Value Year 2020: 64% <br /> Value Year 2021: 64% <br /> Value Year 2022: 64% <br /> Value Year 2023: 64% <br /> Value Year 2024: 64% <br /> Value Year 2025: 64% <br /> Value Year 2026: 64% <br /> Value Year 2027: 64% <br /> Value Year 2028: 64% <br /> Value Year 2029: 64% <br /> Value Year 2030: 64% <br /> Value Year 2031: 64% <br /> <br />Company agrees to pay to City an amount of <br />personal property in the unannexed area equal to the sum <br />of: <br /> 3 <br /> <br />