Common use of Taxes and Reserves Clause in Contracts

Taxes and Reserves. All real estate taxes and special assessments for 2021 and prior years shall be paid by the Seller from the proceeds of the sale. The Buyer understands that the Buyer is responsible for payment of all real estate taxes and special assessments for 2022 and future years. Periodic reappraisal, required by law, may result in a change in taxes.

Taxes and Reserves. All real estate taxes and special assessments for 2021 2023 and prior years shall be paid by the Seller from the proceeds of the sale. The Buyer understands that the Buyer is responsible for payment of all real Real estate taxes and special assessments for 2022 2024 and future yearsyears will be paid by the buyer. Periodic reappraisal, required by law, may result in a change in taxes.