Common use of TAXES & ASSESSMENTS Clause in Contracts

TAXES & ASSESSMENTS. The real estate taxes shall be prorated. Seller shall pay real estate taxes which are payable during the year in which Closing occurs, and taxes payable during the succeeding year, prorated to the date of Closing. Buyer shall assume and pay all subsequent taxes. If at the time of closing the tax xxxx for the Real Estate for the succeeding year has not been issued, taxes payable shall be computed based on the last tax xxxx available to the closing agent. The succeeding year’s tax xxxx, because of recently constructed improvements, annexation, reassessment, or similar items may greatly exceed the last tax xxxx available to the closing agent.

TAXES & ASSESSMENTS. The real estate taxes shall be prorated. Seller shall pay real estate taxes which are payable during the year in which Closing closing occurs, and taxes payable during the succeeding year, prorated to the date of Closingclosing. Buyer shall assume and pay all subsequent taxes. If at the time of closing the tax xxxx for the Real Estate for the succeeding year has not been issued, taxes payable by either party shall be computed based on the last tax xxxx available to the closing agent. WARNING: The succeeding year’s tax xxxx, because of recently constructed improvements, annexation, reassessment, or similar items may greatly exceed the last tax xxxx available to the closing agent.

TAXES & ASSESSMENTS. The real estate taxes shall be prorated. Seller shall pay real estate taxes which are payable during the year in which Closing occurs, and taxes payable during the succeeding year, prorated to the date of Closing. Buyer shall assume and pay all subsequent taxes. If at the time of closing the tax xxxx bill for the Real Estate for the succeeding year has not been issued, taxes payable by either party shall be computed based on the last tax xxxx bill available to the closing agent. The succeeding year’s tax xxxxbill, because of recently constructed improvements, annexation, reassessment, or similar items may greatly exceed the last tax xxxx bill available to the closing agent.

TAXES & ASSESSMENTS. The real estate taxes shall be prorated. Seller shall pay real estate taxes which are payable during the year in which Closing occurs, and taxes payable during the succeeding year, prorated to the date of Closing. Buyer shall assume and pay all subsequent taxes. If at the time of closing the tax xxxx for the Real Estate for the succeeding year has not been issued, taxes payable by either party shall be computed based on the last tax xxxx available to the closing agent. The succeeding year’s tax xxxx, because of recently constructed improvements, annexation, reassessment, or similar items may greatly exceed the last tax xxxx available to the closing agent.