Real Estate Taxes and Special Assessments Clause Samples

Real Estate Taxes and Special Assessments. Seller will pay, on or before the Closing Date, all special assessments levied, pending, or deferred as of the Closing Date. General real estate taxes payable in the year in which Closing occurs shall be prorated on a daily basis, as of the Closing Date. If taxes for the current year are unavailable, the parties shall use the prior year’s taxes or if it is available, a Proposed Tax Statement for the property.

Real Estate Taxes and Special Assessments. Seller shall pay prior to Closing any and all delinquent real estate taxes and assessments with respect to the Property. General real estate taxes and assessments payable for the fiscal year in which the Closing occurs shall be prorated as of the Closing Date.

Real Estate Taxes and Special Assessments. The Buyer and the Seller shall prorate all real property taxes, levies, and assessments as of the Closing. Upon Closing, the Buyer shall pay and discharge in a timely manner all taxes, assessments, common area maintenance fees, expenses, costs, liens, or encumbrances now or hereinafter affecting any part of the Property; until the Purchase Price is paid in full, the Buyer shall annually furnish to the Seller evidence satisfactory to the Seller of payment of the taxes and assessments, contemporaneously with their payment, and shall authorize the appropriate governmental official to deliver to the Seller at any time a written statement of the taxes and assessments against the Property.

Real Estate Taxes and Special Assessments. At Closing, the Purchase Price shall be adjusted as follows:

Real Estate Taxes and Special Assessments. To the extent not paid or otherwise payable by the tenant(s) of the Property, general real estate taxes, bonds and assessments that have accrued during the tax year in which Closing occurs will be prorated at the Closing (without regard to when they are or become due and payable; it being understood that Seller shall be solely responsible (and Buyer shall receive a credit against the Purchase Price) for any such taxes or assessments that have accrued as of the Closing but do not become due and payable until after the Closing). Specifically, (i) Seller shall be responsible for that portion of such taxes, bonds and assessments equal to (A) the total such taxes which have accrued during the tax year in which the Closing occurs, multiplied by (B) a fraction, the numerator of which shall be the number of days in such tax year prior to the Closing Date, and the denominator of which shall be 366; and (ii) Buyer shall be responsible for that portion of such taxes, bonds and assessments equal to (A) the total such taxes accruing during the tax year in which the Closing occurs, multiplied by (B) a fraction, the numerator of which shall be the number of days in such tax year subsequent to and including the Closing Date, and the denominator of which shall be 366. Notwithstanding anything to the contrary herein, Seller shall be entitled to any and all tax refunds relating to the period before the Closing Date, regardless of when the refunds are received, except if and to the extent that such refunds are payable to the tenant of the Property at the time such refunds are received under the terms of the Lease, in which case the refundable portion of the amount received shall be paid to such tenant less any costs incurred in collecting such amounts. Buyer shall pay any such refund relating to the period before the Closing Date received by Buyer to Seller, less amounts paid to the tenant as described above, within thirty (30) days of receipt by Buyer or its successors-in-interest. Seller shall have the sole authority to prosecute any tax protest, challenge or appeal for a tax year ending prior to the Closing Date and Buyer shall cooperate in the prosecution of any such protest, challenge or appeal at no cost or expense to Buyer. If the amount of general real estate taxes for the tax year in which the Closing occurs cannot be determined on the Closing Date, an amount equal to one hundred five percent (105%) of Seller’s proportionate share of the taxes for the tax year in whi...

Real Estate Taxes and Special Assessments. For the Closing, the real estate taxes payable in the year prior to Closing shall be paid by ▇▇▇▇▇▇. In the year of Closing, all real estate taxes attributable to the Property shall be prorated between the Seller and Buyer to the Closing Date and any real estate taxes for land and improvements other than the Property being conveyed to Buyer at the Closing shall be paid by Seller. All levied or pending special assessments shall be prorated to the date of the execution of this Agreement not including any transportation or area fees which are addressed separately in Section 7 (g).

Real Estate Taxes and Special Assessments a. The Development Property is currently tax-exempt while owned by the City. Developer shall be responsible for all taxes post-closing, if any; and b. All special assessments, if any, shall be paid by Developer. To the City Clerk’s actual knowledge as of the date of this Agreement, there will be no special assessments against the Development Property between the date of this Agreement and the Closing.

Real Estate Taxes and Special Assessments. A. Seller shall pay all general real estate taxes and installments of special assessments due and payable in the year prior to the Date of Closing and in years prior thereto. Real estate taxes due and payable in and for the year of closing shall be prorated between Seller and Buyers on a calendar year basis to the actual Date of Closing; B. Seller shall not be required to pay any future installments of any special assessments; C. Seller shall pay on date of closing any deferred real estate taxes (including “Green Acres" taxes under MINN. STAT. §273.111) or special assessments payment of which is required as a result of the closing of this Agreement; D. Buyers shall pay real estate taxes and any installments of special assessments due and payable in the year following closing and thereafter.

Real Estate Taxes and Special Assessments. General real estate taxes payable for the tax year prior to year of Closing and all prior years shall be paid by Seller at or before the Closing. General real estate taxes payable for the tax year of the Closing shall be prorated through escrow by Seller and City as of the Closing Date. At or before the Closing, Seller shall pay the full amount of any special assessments against the Property, including, without limitation, interest payable thereon, applicable to the period prior the Closing Date.