Laserfiche WebLink
the year following the year Developer acquired title to the <br />Property, it will pay annually to the Collector of Revenue of St. <br />Louis County (the "Collector") in addition to the ad valorem <br />taxes computed under Paragraph 6(a), a payment in lieu of tax <br />equal to the amount by which the actual tax on the Property <br />computed pursuant to Paragraph 6(a) is less than the tax which <br />would have resulted in such taxable year against the Property had <br />the assessed value of the Property and the improvements thereon <br />been the assessed value imposed on the Property and the <br />improvements thereon by the Assessor as of January 1, 1995 (the <br />"Base Assessed Value"). <br /> <br /> (c) Notwithstanding the tax abatement provided for in <br />Paragraph 6(a) hereof and Section 353.110, the Developer agrees <br />with respect to the Property owned by it and taxed pursuant to <br />Section 353.110, that during the remaining five (5) year period <br />of the tax abatement period provided for in Paragraph 6(a) hereof <br />it will pay annually to the Collector in addition to the ad <br />valorem taxes computed under Paragraph 6(a), a payment in lieu of <br />tax equal to the amount by which the actual tax on the Property <br />computed pursuant to Paragraph 6(a) is less than the additional <br />tax which would have resulted in such taxable year against the <br />Property had the assessed value of the Property and the <br />improvements thereon been the following: <br /> <br /> Year 11 - The Base Assessed Value plus 20% of the difference <br /> between the current assessed value and the Base <br /> Assessed Value; <br /> <br />$TL-347873 <br /> <br /> <br />