POSSESSORY INTEREST. The parties to this Agreement recognize that certain rights to property may create a "possessory interest", as those words are used in the California Revenue and Taxation Code (107). For all purposes of compliance by COUNTY with Section 107.6 of the California Revenue and Taxation Code, this recital shall be deemed full compliance by the COUNTY. All questions of initial determination of possessory interest and valuation of such interest, if any, shall be the responsibility of the County Assessor and the contracting parties hereto. A taxable possessory interest may be created by this, if created, and the party in whom such an interest is vested will be subject to the payment of property taxes levied on such an interest.
POSSESSORY INTEREST. It is not the intention of the parties to this Agreement to create any possessory interest or tenure by the Association in any property of the Department; however, this Agreement may create or cause to be created a possessory interest in public land within the meaning of Revenue and Taxation Code Section 107.6. In the event such possessory interest is created, the Association may be subject to the payment of property taxes levied on such possessory interest. The Association hereby agrees to pay any such property taxes levied. The Association agrees to pay the above and all other lawful taxes, assessments, or charges which may at any time be levied by the state, county, city, or any tax or assessment levying body on any interest in this Agreement which the Association may have in or to the premises covered by the Agreement, as well as taxes and assessments on goods, merchandise, fixtures, appliances, equipment, and property owned by it in or around said premises. Contractor's Name: Agreement Number:
POSSESSORY INTEREST. The County Assessor may value the possessory interest created by this lease, or any subleases. Under California Revenue and Taxation Code section 107, a property interest tax may be levied on that possessory interest. The lessee is obligated to pay this property tax, and failure to do so may be considered a material breach of the lease."
POSSESSORY INTEREST. If this Contract results in Contractor having possession of, claim or right to the possession of land or improvements, but does not vest ownership of the land or improvements in the same person, or if this Contract results in the placement of taxable improvements on tax exempt land (Revenue & Taxation Code Section 107), such interest or improvements may represent a possessory interest subject to property tax, and Contractor may be subject to the payment of property taxes levied on such interest. Contractor agrees that this provision complies with the notice requirements of Revenue & Taxation Code Section 107.6, and waives all rights to further notice or to damages under that or any comparable statute.
POSSESSORY INTEREST. Licensee acknowledges that they have been informed that under Section 107 of the Revenue and Taxation Code of the State of California, the Marin County Assessor is required to place a value on all possessory interests. Possessory interest is defined as the right of a private taxable person or entity to use property owned by a tax-exempt agency for private purposes. A possessory interest tax will, therefore, be levied by the County Assessor on this property against the Licensee as of the lien date, which is March 1 of each year.
POSSESSORY INTEREST. XXXXXX understands and acknowledges that its leasehold interest hereunder may be subject to a possessory interest tax or property tax that may be levied on LESSEE by the County of Xxxxx pursuant to Section 107 of the Revenue & Taxation Code, Section 33673 of the Health and Safety Code, or other provision of state or local law. The LESSEE is required to pay any such tax directly to the County of Xxxxx as billed by the County of Xxxxx Xxx Collector.
POSSESSORY INTEREST. It is not the intention of the parties to this agreement to create any possessory interest or tenure by the Keepers in any property of the Harbor District; however, this agreement may create, or cause to be created, a possessory interest in public land within the meaning of Revenue and Taxation Code Section 107.
POSSESSORY INTEREST. Licensee expressly recognizes and understands that this Agreement may create a possessory interest subject to property taxation and that Licensee may be subject to the payment of property taxes levied on such interest.
POSSESSORY INTEREST. The Parties agree that no possessory interest is created by this Agreement. However, to the extent that a possessory interest is deemed created by a governmental entity with taxation authority, Permittee acknowledges that City has given to Permittee notice pursuant to California Revenue and Taxation Code Section 107.6 that the use or occupancy of any public property pursuant to this Agreement may create a possessory interest which may be subject to the payment of property taxes levied upon such interest. Permittee shall be solely liable for, and shall pay and discharge prior to delinquency, any and all possessory interact taxes or other taxes levied against Permittee’s right to possession, occupancy, or use of any public property pursuant to any right of possession, occupancy, or use created by this Agreement.
POSSESSORY INTEREST. By accepting the franchise, Xxxxxxx acknowledges notice was given to Grantee, as required by California Revenue and Taxation Code Section 107.6, that use or occupancy of any public property under the authority set forth in this Agreement may create a possessory interest that may be subject to the payment of property taxes levied upon that interest.
