Possessory Use Tax. PM The use, occupancy or possessor-y rights of City in the Premises. Pursuant to Section 107.6 of the State Revenue and Taxation Code, the County hereby gives notice that the property interest to City under this Lease may be subject to property taxation as a possessory interest and the City acknowledges that it shall be subject to payment of property tax if a possessor-y interest tax is levied on the property interest.
Possessory Use Tax. Pursuant to section 107.6(a)1 1 of the State Revenue and Taxation code the City hereby gives notice that the property interests to Tenant under this Lease may be subject to property taxation as a possessory interest and the Tenant acknowledges that it shall be subject to payment of property tax if a possessory interest tax is levied on the property interest.
Possessory Use Tax. The Lessee is hereby notified by Xxxxxx that the possessory interest created hereunder may be subject to a possessory interest tax or property taxation when created, pursuant to Sections 107 to 107.6 of the California Revenue and Taxation Code or other applicable law, and that Lessee and/or the party in whom the possessory interest is vested may be subject to the payment of property taxes levied on such interests. Xxxxxx agrees and acknowledges that it has actual notice pursuant to Section 107.6 of the California Revenue and Taxation Code that it may be required to pay a possessory interest tax as a result of this Lease and the letting to Lessee of the Lease Premises. Lessee hereby acknowledges that it has actual knowledge of the possible existence of a possessory interest tax and has read the provisions of Sections 107 to 107.6 of the California Revenue and Taxation Code. Lessee shall pay all possessory interest taxes levied by any governmental agencies by reason of this Lease or Xxxxxx’s possession of the Lease Premises.
