Base Year Taxes Clause Samples
The Base Year Taxes clause establishes the amount of property taxes assessed during a specified initial year as a benchmark for future calculations. In commercial leases, this clause is commonly used to determine the tenant’s responsibility for increases in property taxes over time; for example, the landlord pays taxes up to the base year amount, while the tenant pays any increases above that level in subsequent years. This mechanism ensures a clear allocation of tax-related costs between landlord and tenant, protecting both parties from unexpected tax fluctuations and disputes over payment obligations.
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Base Year Taxes. The Taxes (as defined 111 Section 4.04) assessed and levied in calendar year 2015.
Base Year Taxes. The total amount of Taxes for the fiscal year July 1, 2003 to June 30, 2004.
Base Year Taxes. Effective on the Expansion Space Commencement Date, the term “Base Year Taxes” shall mean, with respect to the Expansion Space, the Taxes for the Taxes Base Year of 2002 computed by Landlord in conformity with the Lease. All references within the Lease to the Base Year Taxes shall be amended in the same manner. There shall be no change to the Base Year Taxes for the portion of the Premises that excludes the Expansion Space.
Base Year Taxes. Effective on June 1, 2004, the term "Base Year Taxes" shall mean, with respect to the Premises (including the Expansion Space), the Taxes for the Taxes Base Year of 2004 computed by Landlord in conformity with the Lease. All references within the Lease to the Base Year Taxes shall be amended in the same manner.
Base Year Taxes. The number “1998” in the section entitled “Base Year (Taxes) set forth on the Reference Page of the Lease is deleted and replaced with “2001”.
Base Year Taxes. An amount equal to the product of Taxes which are charged to Sublandlord under the Prime Lease for the period of July 1, 1996 through June 30, 1997 multiplied by a fraction, the numerator of which is the sum of (1) the Subtenant's Percentage for calendar year 1996 and (2) the Subtenant's Percentage for calendar year 1997, and the denominator of which is 2.