Property Tax Clause Samples
The Property Tax clause defines the responsibilities of the parties regarding the payment of property taxes associated with the subject property. Typically, it specifies whether the landlord or tenant is responsible for paying property taxes, and may outline the timing and method of payment, such as direct payment to the taxing authority or reimbursement to the other party. This clause ensures clarity and prevents disputes by clearly allocating the financial obligation for property taxes during the term of the agreement.
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Property Tax. The Lessor shall be responsible for payment of present and future Property Tax imposed by the municipal authorities in respect of the Demised Premises.
Property Tax. In the event Landlord loses any property tax exemption as a result of tenant’s use of the Premises, ▇▇▇▇▇▇ hereby agrees to reimburse Landlord for the full amount assessed as additional rent. Tenant understands that the amount of this assessment, if any, is not known to Landlord at this time, but agrees to be solely responsible for any and all property tax incurred by Landlord which results from Tenant’s use of the premises.
Property Tax. Although the property tax on the Project Site is payable by the Authority as owner of the Site; however, under applicable laws the Concessionaire/Sub-Licensee (if any) is liable to pay any such taxes arising out of usage of Project Site i.e. for any non-residential/ commercial purposes or on the built-up area, which is under the occupation of Concessionaire shall not be reimbursed or payable by the Authority. For the avoidance of doubt, it is clarified that as per Section 97(2) of the Punjab Municipal Corporation Act, 1976, the Concessionaire shall bear any such property taxes, house taxes, municipal taxes etc. as levied by Competent Authorities. Any such taxes payable by the Concessionaire under Applicable Laws, for use of the Project Site, shall not be reimbursed or payable to the Concessionaire till the subsistence of this Concession period.
Property Tax. This is every kind of present or future federal, provincial, municipal or other tax, assessment or rate on or in respect of the property or any part of it. It includes a charge imposed by a municipality for an improvement, and a fee for information about property taxes.
Property Tax. ▇▇▇▇▇▇ uses the Premises exclusively for public school purposes, and therefore the Premises may be exempt from ad valorem property taxes. Lessee shall be responsible for the application to the Los Angeles County Tax Assessor for such tax exemption on an annual basis. Lessor shall cooperate with Lessee in obtaining such exemption, and shall execute any application for a tax exemption for the Premises. Any tax refunds and/or tax exemptions received by or granted to Lessor, based on ▇▇▇▇▇▇'s tax exempt status during the term of this Lease, shall be credited toward ▇▇▇▇▇▇'s Expenses payable under this Lease.
Property Tax. Any property tax on the Bus Depot, Parking Space (if any) and Bus Stops shall be payable by the Authority as owner of the same; provided, however, that any such taxes payable by the Operator under Applicable Laws for use of Project Facilities excluding Bus Depot, Parking Space (if any) and Bus Stops, shall not be reimbursed or payable by the Authority.
Property Tax. Subject to the pro-rations in Section 9.2(b)(i), Developer shall assume and be obligated to pay any and all real estate taxes and assessments which become due and payable from and after Closing, without appeal, unless ▇▇▇▇▇▇▇▇▇'s tax bill is the result of mistake or clerical error.
Property Tax. To pay any property tax relating to the Premises.
Property Tax. In the event that the Lessor shall be required by law to assess and to levy any real property taxes against the Premises or any portion thereof, the Lessee shall have the option of (1) paying said taxes in addition to the payment of those sums set forth in this Lease and continuing in possession of the Premises under this Lease or (2) it may declare this Lease void and terminate the same.
Property Tax. “Property Tax” means any Tax resulting from and relating to the assessment of real or personal property or a possessory interest in real or personal property by any Governmental Authority.