Property Tax Increase. This Agreement provides for the payment of the increase in real, personal property, and centrally assessed property taxes collected from the Project Area by the County acting as the tax collection agency for the City. Without limiting the foregoing, this Agreement includes Tax Increment resulting from an increase in the tax rate of the City, which is hereby expressly approved as being included in Tax Increment as required by Section 17C-1-407 of the Act. It is expressly understood that the Property Taxes which are the subject of this Agreement are only those Property Taxes actually collected by the County from the Project Area.
Property Tax Increase. This Agreement provides for the payment of the increase in real and personal property taxes collected from the Project Area by the County acting as the tax collecting agency. Real and personal property taxes which are the subject of this Agreement shall not include taxes collected from the Project Area by the County, acting in its capacity as the tax collection agency, which are to be paid to or utilized by abatement districts, special service or improvement districts or other entities for which the County acts as the tax collection agency, nor shall it include any component of real property taxes retained by the County as payment for costs incurred in the collection of real property taxes for itself or other applicable agencies. It is expressly understood that the real property taxes which are the subject of this Agreement are only those real and personal property taxes collected by the County from the Project Area.
Property Tax Increase. (10) If for any reason whatsoever the property tax payable in respect of the Premises is increased to a figure in excess of the property tax at the date hereof by reason of any decoration alteration or other works or improvements carried out by the Tenant to the Premises then and in any such case the Tenant shall during the continuance of this Agreement bear the increase in property tax and the amount of such increase or increases shall form part of the rent and be recoverable accordingly. Unwanted property
Property Tax Increase. At Tenant’s request, in furtherance of Tenant’s desire to obtain tax abatements with respect to the Premises as provided in Special Stipulation 30 of the Original Lease, Landlord conveyed the Premises to the Development Authority of Xxxxxx County (the “Authority”) and leased the Premises back from the Authority for a term of fifteen (15) years. Accordingly, Tenant hereby agrees that Special Stipulation 6 of the Original Lease shall be inapplicable to any transfer of the Premises from the Authority to Landlord or to any determination by a governmental authority as to the invalidity or unenforceability of Tenant’s tax abatement agreement.
Property Tax Increase. Due to efforts by the Landlord, although taxes have increased the owner was able to appeal and obtain a reduction in the assessed value therefore there have been no increases in the dollar amount during the previous term of your lease. The above has been discussed between Xxxxxxx and Xxxxxxx, Atlantic Design Company, Inc. and myself and I believe it to be true and accurate as hereinabove stated. Sincerely, /s/ Xxxxxx X. Xxxxx Xxxxxx X. Xxxxx
Property Tax Increase. Notwithstanding any language contained herein to the contrary, in the event that after the commencement date of this Lease the real property taxes on the leased premises are increased (1) as a result of action by the State Legislature, the State initiative process, or the State Courts, which amends the tax rate and/or the valuation for the purpose of levying property taxes, or (2) as a result of a reassessment following any transfer of ownership of the property of which the premises are a part, or following any transfer of an interest in Lessor, Lxxxxx agrees to pay to Lessor, not less than ten (10) days prior to delinquency, Lessee’s pro rata share of any such tax increase (over and above the amount of property taxes that would have been paid without the occurrence of such event) from the effective date thereof through the balance of the lease term or any renewal period. Lxxxxx agrees to furnish with appropriate documentation relating thereto.
Property Tax Increase. Notwithstanding any language to the contrary, in the event that after July 15, 1996, the property taxes on the leased Premises are increased as a result of action by the State Legislature and/or the State Initiative process, which action amends the tax rate and/or the valuation for the purpose of levying property taxes, Lessee agrees to pay Lessor, not less than ten (10) days prior to delinquency, its pro rata share of any such tax increase (over and above the amount of property taxes that would have been paid without such action) from the effective date thereof through the balance of the lease term or any renewal period. Lessor agrees to furnish Lessee with appropriate documentation relating thereto.
Property Tax Increase. Tenant hereby agrees that Special Stipulation 3 of the Lease shall be inapplicable to any transfer of the Premises that may hereafter occur to the Development Authority of Fulton County (the "Authority") or thereafter from the Authority to Lxxxxxxd or to any determination by a governmental authority as to the invalidity or unenforceability of any tax abatement agreement Tenant may obtain.
Property Tax Increase. To the extent the Lease or this Addendum, Xxxxxx’s use or occupancy of the Premises result in any increase in taxes or assessments relating to the Project, for example, as a result of any loss of the exempt status of all or any portion of the Project, Lessee shall be responsible for payment of any increase resulting therefrom within 30 days after notice from the Orange County Assessor’s Office or other taxing authority. Lessee shall also be responsible for cooperating in the preparation and submittal of any applications and supplemental information with all applicable governmental authorities for exemption from real property taxation.
