Sentences with phrase «lieu of property»

Question: How do we receive in lieu of property tax funding for students residing in other districts, but attending our charter school?

A New York Times article yesterday noted that financially - challenged municipalities across the country are calling on land - holding non - profit / tax - exempt organizations to make larger contributions in lieu of property taxes.

She also said the city is working with large tax - exempt organizations like the colleges and medicals centers in Albany to work out voluntary payments in lieu of the property taxes they do not pay.

Shola Olatoye, Mr. de Blasio's NYCHA chairwoman, thanked the mayor for also baselining the $ 70 million the authority formerly paid to the NYPD for protection into his executive budget and for eliminating NYCHA's $ 30 million annual payment in lieu of property taxes.

A SUNY Poly affiliate already pays $ 500,000 a year to Albany in lieu of property taxes on its facilities at the city's western edge, which are worth billions and host private sector companies conducting research alongside academics.

Most «egregiously» — at least, according to Bronx Councilman Ritchie Torres, chairman of the Committee on Public Housing — the city assesses NYCHA a payment in lieu of property taxes on its buildings that exceeds $ 30 million each year.

Not exact matches

As the sharing economy continues to grow, 2017 will see a steady increase in the number of people who prefer to book rental properties in lieu of hotels.

«Some states with high property taxes, like New Hampshire and Texas, rely heavily on property taxes in lieu of other major tax categories; others, like New Jersey and Illinois, impose high property taxes alongside high rates in the other major tax categories,» Walczak explains.

Entergy has «payment in lieu of taxes» deals with Buchanan, the Hendrick Hudson school district, the city of Peekskill and Westchester County that were expected to amount to about $ 31 million in revenue for those government entities in 2015 and rise annually along with the state property tax cap.

Such a takeover would collectively save the other 57 counties $ 2.3 billion a year, which equates to 41 percent of their collective property tax revenue (including payments in lieu of taxes, or PILOTs).

«The major theme for everybody is taxes, and we have to focus on achieving better PILOT funding,» Santangelo said, referring to «payment in lieu of taxes,» a compensation for revenue lost due to tax exempt property.

Bother were arraigned & were remanded to the Delaware County jail in lieu of $ 2,500 cash bail or $ 5,000 property bond, they face court action on Thursday.

Hinshaw was arraigned in the Town of Lansing court and was remanded to the Tompkins County Jail in lieu of $ 10,000 cash bail or $ 25,000 property bond.

Gallo, who confirmed the conversation took place, was at the time engaged in an extended legal battle with Aaron over a «payment in lieu of taxes» arrangement for one of Aaron's other Kingston properties.

Albany officials have long complained that more than half of their property is ineligible for taxation, and in the instance of the Harriman Campus, which is valued at over $ 650 million, doesn't pay a payment - in - lieu - of - taxes, or PILOT.

Irwin was arraigned in the adjoining Town of Newfield court and sent to the Tompkins County jail in lieu of $ 1,000 cash bail or $ 2,000 property bond.

Parshall was arraigned in the Town of Nanticoke Court and was remanded to the Broome County Jail in lieu of $ 1,000 cash bail or $ 2,000 property bond, according to the state police report.

Payment in lieu of taxes from tax - exempt properties, like Empire State Plaza - Aerial view from the Alfred E. Smith State Office Building of the Empire State Plaza on June 28, 2016 in Albany, N.Y.

The only allowable punishment for defaulting on the debt would be the refusal of service, and perhaps the confiscation of property in lieu of payment.

Like the unfair property tax structure that burdens Staten Island homeowners more than elsewhere, as well as the lack of city funding for the Island's private hospitals in lieu of a city - run hospital.

Mr. Bernardo in his UCIDA (Ulster County Industrial Development Agency) application promised 51 full time jobs (26 the first year and 25 the second year) to be maintained over ten years in return for a PILOT program (Payment In Lieu Of Taxes) which meant he avoided paying sales tax and a good amount of property and school taxes for ten years while we taxpayers picked up his taOf Taxes) which meant he avoided paying sales tax and a good amount of property and school taxes for ten years while we taxpayers picked up his taof property and school taxes for ten years while we taxpayers picked up his tab.

According to payment - in - lieu - of - tax agreements with the developer, the city will receive no property taxes from Carousel Center mall or the Destiny expansion for 30 years, said Bill Ryan, the mayor's chief of staff and the chairman of SIDA.

On paper, the transaction was recorded in the Erie County Clerk's Office on Friday as a deed in lieu of foreclosure for $ 96.8 million, with LNR buying the property through a limited - liability company called GCCFC 2007 - GG9 Niagara Falls Boulevard LLC.

The idea — as with every property in lieu of taxes agreement, or PILOT — was to encourage private development with short - term tax breaks in return for improved property, more jobs and increased traditional tax payments in the long term.

The proposal is merely a stop - gap, in lieu of broader reform of the city's property tax system, which the mayor has promised but has been slow to act on.

They can also offset property taxes through what's known as a PILOT, or Payment In Lieu Of Taxes.

While the land would remain state property, the developer would have to reach a payment in lieu of taxes with Albany's Industrial Development Authority that could add millions to city coffers.

The interesting and sometimes unexpected properties of nanoparticles are not partly due to the aspects of the surface of the material dominating the properties in lieu of the bulk properties.

Manson also reportedly ordered the women to sleep with Spahn in lieu of payment for renting the property.

Safety Carbon fiber is valued in the racing community for its strength and energy absorption properties in lieu of its light weight, but we much prefer to focus on results rather than construction or equipment.

Just as they apply to other real estate property ownership interests, warranty deeds, mortgages, mortgage foreclosure actions, and deeds in lieu of foreclosure also apply to timeshares.

The Federal National Mortgage Association — known as Fannie Mae — sells property it acquires through foreclosure, deed in lieu of foreclosure or forfeiture.

Deed - in - lieu of Foreclosure: The servicer agrees to accept the deed to your property in case of loan default.

Fannie Mae will acquire these properties by a deed - in - lieu — meaning that the homeowner voluntarily gives up ownership of their home to the mortgage company.

FHA insured mortgages are generally not available to borrowers whose property was foreclosed on or given a deed - in - lieu of foreclosure within the previous three years.

In the event the loan balance is greater than the value of the home, the borrower can either arrange to voluntarily turn over ownership of the property to the lender (Deed in lieu of foreclosure), or buy the home at 95 % of the appraised value.

Once your deed in lieu of foreclosure is 3 - 4 years old, you would be able to get a loan for a new property.

Conveying your real property that is subject to a mortgage (by deed) to your lender to avoid foreclosure (deed in lieu of foreclosure).

A deed in lieu of foreclosure is a deed that transfers your property rights back to the lender.

If you have not been able to sell your property and have no lien junior to your lender's deed of trust, your lender may accept a deed - in - lieu of foreclosure in satisfaction of the amount of your loan.

Another consideration for the mortgage company consider the deed in lieu of foreclosure is whether or not there are two mortgages on the property.

If you're not eligible for any of these options, your servicer may be able to help you find a solution other than foreclosure, like a short sale or a voluntary transfer of the property through a «deed in lieu of foreclosure.»

A deed - in - lieu allows BancorpSouth to take possession of your property sooner than would be possible through foreclosure.

In addition, the law limited the combined itemized deduction for state and local property taxes and local income taxes (or sales taxes in lieu of income) to $ 10,000 ($ 5,000 if married filing separately).

Deed in Lieu of Foreclosure: You voluntarily transfer your property title to the servicers (with the servicer's agreement) in exchange for cancellation of the remainder of your debt.

Has anyone heard of a lender who was willing to negotiating a «paid settlement» or «paid satisfactory» on a credit report in a situation where the borrow was willing to agree to a deed in lieu rather than letting the property to go into foreclosure?

It is only affected adversely when: - you start missing payments - a short sale is closed (the damage can be nominal depending on the # of missed payments)- your property is foreclosed on by the lender either by trust deed or deed in lieu

Deed in lieu — A deed in lieu of foreclosure requires the borrower to relinquish his or her rights in a property to the lender in exchange for being released from liabilities specifically named in the mortgage note and is often the result of a settlement agreement.

Borrowers holding a portfolio of underwater investment properties will see their tax bill skyrocket in the event they successfully negotiate a short sale, deed in lieu of foreclosure or forgiveness of deficiency judgment after foreclosure.

You can either pay the tax on the deemed disposition when you file your tax return for the year of emigration or you can opt to post security in lieu of paying tax for any particular property.