In Lieu Of Taxes

Definition of "In lieu of taxes"

Payment made instead of taxes, For example, a tax-exempt institution, such as a state government complex of buildings, may make an offsetting in lieu of tax contributory payment to the local government to prevent raising the property tax rate on the local citizenry.

Search Real Estate Glossary

Related Real Estate Glossary terms

Life Reinsurance

System whereby a life insurance company (the reinsured) reduces its possible maximum loss on either ...

Cease And Desist Petition

Statement filed by a homeowner showing a premises address and notifying a states Secretary of State ...

Attachment Date

Day the attachment of property under a judicial order becomes effective. ...

Contingency Planning

Considering future occurrences that may possibly arise. ...

Residential Mortgage

Mortgage for residential property. ...

Wear And Tear Exclusion

Denial of coverage for damage, in inland marine insurance, stemming from routine use of the property ...

Related Real Estate FAQ

What Is A Qualifying Ratio?

A qualifying ratio is the percentages a lender compares to see whether you qualify for a loan. ...

What Is A Debt-to-income Ratio?

A debt-to-income ratio is the percentage of a persons monthly earnings used to pay off all debt obli ...

What Do I Need To Know About Indemnity Insurance?

A principle of insurance which provides that when a loss occurs, the insured should be restored to t ...

What Is Title Insurance?

Title insurance is insurance that protects the lender and buyer against any losses incurred from dis ...

What Is A Mortgage Banker?

A mortgage banker is a company that originates mortgages and sells them to a secondary market. ...

What Is An Assumable Mortgage?

A type of purchase in which the buyer assumes the responsibility of making payments on a sellers hom ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Is it better to buy or sell a home first What is Earnest Money 3 tips to ensure your sale goes through Mortgage Loan Types What Must I Disclose When Selling My Home?

FAQ

What is a foreclosure? Besides making my monthly mortgage payment, how can I build equity into my house? What is a balloon mortgage? What do I need to know about Managed Care Insurance: HMO, PPO, & and POS plans? What are the Benefits of Liability Insurance?