Property Tax Allocation. All real estate Taxes, fire district Taxes, and special or betterment assessments against any of the Fee Properties (collectively “Property Taxes”) are paid by Xxxxxxxx Oil pursuant to the terms of the Lease. Accordingly, Property Taxes shall be paid as provided in the Stock Purchase Agreement.
Property Tax Allocation. If the amount of any such taxes, rates or assessments have been levied in respect of a parcel greater than the Strata Lot, the portion thereof which shall be allocated to the Strata Lot will be determined by pro-rating the total amount among all strata lots in the Development on a pro rata basis according to unit entitlement numbers.
Property Tax Allocation. Upon each annexation, property tax allocation shall be determined pursuant to one of the following provisions:
Property Tax Allocation. Nothing herein shall limit County’s ability to offset refunded amounts from agencies, including City, for the reduction of property taxes as a result of the refund of taxes and payment of interest to River City, in accordance with law.
Property Tax Allocation. For reorganization #330 and #331 (White-APN 000-000-000 and 000-000-000 and Island Cleanup APNs 000-000-000, 020-070-028- 501, 000-000-000, 000-000-000, 000-000-000, 000-000-000, 000-000-000, 020-400- 027, 044-086-001) involving CITY, COUNTY shall receive one hundred percent (100%) of the Annexation Property Tax Base, and Incremental Change shall be apportioned with two-thirds allocated to COUNTY and one-third to CITY; provided, however, that if it is economically infeasible for CITY to annex the property and to connect the annexation property to CITY services, then COUNTY and CITY shall meet and confer to determine if a portion of the Annexation Property Tax Base should be allocated to CITY.
Property Tax Allocation. For purposes of Section 2.3(a)(iv), (a) all Taxes of the Acquired Entities based on income, receipts or similar measures shall be apportioned between the Sellers, on the one hand and the applicable Designated Purchaser, on the other hand based on a closing of the books as of the Closing Date, and (b) all real and personal property Taxes and similar ad valorem obligations levied with respect to the Acquired Assets, whether imposed or assessed before or after the Closing Date (“Periodic Taxes”) for a taxable period that includes (but does not end on) the Closing Date (a “Straddle Period”), shall be apportioned between Sellers, on the one hand, and Purchaser or the applicable Designated Purchaser, on the other hand, as of the Closing Date based on the number of days of such taxable period included in the period ending with and including the Closing Date (together with periods ending on or before the Closing Date, the “Pre-Closing Tax Period”), and the number of days of such taxable period beginning after the Closing Date (together with any periods beginning after the Closing Date, the “Post-Closing Tax Period”). At the Closing, Periodic Taxes with respect to each Acquired Asset for the applicable Tax period shall be prorated in accordance with the foregoing provisions based on the Tax assessment for such Acquired Asset for the applicable Tax period, if available, or otherwise, based on the last available Tax assessment with respect to such Acquired Asset. Sellers shall be responsible for such Periodic Taxes attributable to Pre-Closing Tax Periods and the applicable Purchaser shall be responsible for such Periodic Taxes attributable to Post-Closing Tax Periods. At the Closing, the Closing Purchase Price shall be (x) decreased by an amount equal to excess, if any, of the (i) unpaid Periodic Taxes with respect to Acquired Assets purchased by such Purchaser attributable to Pre-Closing Tax Periods over (ii) such Periodic Taxes paid by Sellers but apportioned hereunder to Purchaser or a Designated Purchaser for Straddle Periods, or (y) increased by an amount equal to the Periodic Taxes apportioned to Purchaser or a Designated Purchaser with respect to Straddle Periods but previously paid by Sellers (each determined in accordance with the foregoing principles) (such increase(s) or decrease(s) in the Closing Purchase Price, the “Property Tax Adjustment”).
Property Tax Allocation. Real property, personal property and ad valorem taxes or other similar taxes levied upon the Assets and Real Property (whether leased or owned) located in the State of California, assessed January 1, 1997 for the taxable period July 1, 1997 through June 30, 1998 shall be prorated as of the Closing Date between the parties based upon their respective periods of ownership during the taxable year 1997/1998. Said taxes assessed upon the Assets and Real Property (whether leased or owned) located in the State of California and assessed on January 1, 1998, together with any supplemental assessments resulting from the sale of the Assets, shall be the sole responsibility of the Buyer.
