City of tempe gplet
WebArizona State statute grants the City of Tucson authority to abate property tax for up to eight years if a property is located within a designated Central Business District and meets other specific criteria. This tool is commonly referred to as the GPLET (locally pronounced Gee-plet). On April 17, 2012, Mayor and Council adopted Tucson’s ... WebJun 28, 2024 · The Tempe City Council is considering a Government Property Lease Excise Tax abatement for Hines ’ proposed 14-story, 216KSF 250 Rio office development near Rio Salado Parkway and the Ash Avenue Alignment. If approved, Hines would sell the site to the City and the project would receive an eight-year abatement on property taxes.
City of tempe gplet
Did you know?
WebDec 5, 2024 · According to City Ordinance 2024.39 and 2024.48, the City of Tempe has agreed to enter into a lease with the Graduate Tempe Owner, LLC and the KBSII … WebThe Government Property Lease Excise Tax ("GPLET") has been established by the State of Arizona and is a redevelopment tool to initiate development by reducing a project's operating costs by replacing the real property tax with an excise tax. Under the state statute an excise tax is established for the building type of use and is calculated on ...
WebFeb 17, 2024 · The GPLET will apply for eight of the 15 years expected to complete the project. Tempe City Council members say that this is a good thing, and will produce … WebNov 14, 2024 · The team also said it wanted to utilize the Government Property Lease Excise Tax (GPLET) program, meaning the team would lease the land from the city of Tempe so it would not have to pay...
WebAug 30, 2009 · The arena and music venue will have a 30-year GPLET abatement period. Other project components will have an eight-year GPLET abatement period. The arena and music venue will have a 30-year GPLET abatement period. The value of Tempe’s portion of the 30-year GPLET abatement is $87.3 million. Web6 rows · What Is A GPLET? The Government Property Lease Excise Tax (GPLET) is a tax incentive agreement ...
WebJun 28, 2024 · The Tempe City Council is considering a Government Property Lease Excise Tax abatement for Hines ’ proposed 14-story, 216KSF 250 Rio office development near …
WebDec 5, 2024 · According to City Ordinance 2024.39 and 2024.48, the City of Tempe has agreed to enter into a lease with the Graduate Tempe Owner, LLC and the KBSII FountainHead, LLC using GPLET rates established in A.R.S. § 42-6203(A) – rates that were eliminated for use beginning June 1, 2010 unless a city had a “grandfathered” project. primary health group appomattox health portalWebSep 9, 2024 · What they don’t share so openly is that they’re also requesting either a 30-year and an 8-year government property lease excise tax (GPLET), to the tune of more than $649 million in tax... playera charlyWebJun 27, 2024 · Tempe officials said the GPLET has been an effective way to promote development and create jobs. “Tempe, the region and the state benefit from quality economic development projects,” Tempe... player accounts for saleWebGPLET was authorized in 1996 and is memoria lized in Arizona Revis ed Statutes Title 42, Chapter 6, Article 5. GPLET allows ownership of property to be transferred from a private entity to the City. Although government-owned property is not subject to property tax, GPLET provides for the collecti on of taxes from private entities that lease playera checo perez red bullWebAug 30, 2024 · A legal fight over affordability concerns at the South Pier at Tempe Town Lake development, the appropriate extent of citizen involvement in project approval, Tempe’s unique affordable housing funding program and the issue of affordable housing, itself, is continuing to roil City policy and development efforts. primary health group incorporatedplayera charles ansWebJul 15, 2024 · An Arizona Department of Revenue report shows 39 of the 65 GPLET properties in Tempe were tax abated or exempted in 2016, meaning they paid zero property taxes or lease excise taxes. The 26... playera checo perez