2002-08-26 Regular Meeting - Laserfiche WebLink

Browse Search

e e Nothing herein contained shall ever be interpreted as lessening the authority of the Harris County Appraisal District to establish the appraised value of Landr improvementsr and tangible personal property in the annexed portionr for ad valorem tax purposes. III. A. On or before April 15r 2001r and on or before each April 15th thereafterr unless an extension is granted in accordance with the Texas Property Tax Coder through and including April 15r 2007r Company shall provide City with a written description of its Land and all improvements and tangible personal property located on the Land as of the immediately preceding January 1st r stating its opinion of the Propertyrs market valuer and being sworn to by an authorized officer of the Company authorized to do sOr or Companyrs duly authorized agent r (the Companyr s IIRendition"). Company may file such Rendition on a Harris County Appraisal District rendition formr or similar form. The properties which the Company must render and upon which the "in lieu of" taxes are assessed are more fully described in subsections 1r 2r and 3 of subsection Dr of this Paragraph III (sometimes collectively called the "Property"); providedr howeverr 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. A failure by Company to file a Rendition as provided for in this paragraphr shall constitute a waiver by Company for the current tax year, of all rights of protest and appeal under the terms of this Agreement. B. As part of its renditionr Company shall furnish to City a written report of the names and addresses of all persons and entities who store any tangible personal property on the Land by bailmentr leaser consignmentr or other arrangement with Company ("products in storage") r and are in the possession or under the management of Company on January 1st of each Value Yearr further giving a description of such products in storage. C. On or before the later of December 31r 2001r or 30 days from mailing of tax bill and in like manner on or before each December 31st thereafterr through and including December 31r 2007r Company shall pay to City an amount "in lieu of taxes" on Companyr s Property as of January 1st of the current calendar year (IIValue Year") . D. Company agrees to render to City and pay an amount II in lieu of taxes II on Companyr s Landr improvements and tangible personal property in the unannexed area equal to the sum of: 1. Fifty-three percent (53%) of the amount of ad valorem taxes which would be payable to City if all of the Companyrs Land and improvements which existed on January 1r 2001r and each January 1 thereafter of the applicable Value Year during the term of this Agreementr (excluding amounts payable pursuant to subparagraph 2r below), had been within the corporate limits of City and appraised 3