Gross Rent Tax means, with respect to any tax year, an amount equal to one percent (1.0%) of the Gross Rent in such tax year; provided, however, that if the Owner fails to provide the Gross Rent on or before the Gross Rent Deadline, Gross Rent Tax shall mean an amount equal to real property taxes that would otherwise be due in such tax year in the absence of any form of exemption from or abatement of real property taxation.

Gross Rent Tax means an amount equal to fifteen percent (15%) of the Gross Rent in the tax year in which such real property tax payment is made.

Gross Rent Tax means an amount equal to ninety-six hundredths of one percent (0.96%) of Gross Rent.

Examples of Gross Rent Tax in a sentence

Commencing upon the Effective Date, and during each year thereafter until the Expiration Date, the Owner shall make real property tax payments in the sum of the Gross Rent Tax.
HPD would like to provide a partial exemption at four percent Gross Rent Tax for 30 years to allow the project to leverage debt to pay for expenses incurred and successfully convert the project.
Commencing upon the fourth anniversary of the Effective Date and during each year thereafter until the Expiration Date, the Owner shall make a real property tax payment in the sum of the Gross Rent Tax.
Commencing upon the Effective Date, the Owner shall make real property tax payments in the sum of (a) up to and including the real property tax payment to be made from the Effective Date until June 30, 2030, the Gross Rent Tax; and (b) upon July 1, 2031, and for each real property tax payment thereafter until the Expiration Date, the Expanded Gross Rent Tax.
Commencing upon the Effective Date, and during each year thereafter until December 31, 2033, the New Owner shall make real property tax payments in the sum of the Gross Rent Tax.

More Definitions of Gross Rent Tax

Gross Rent Tax means an amount equal to two and forty-nine hundredths percent (2.49%) of Gross Rent.

Gross Rent Tax means an amount equal to two and eleven hundredths percent (2.11%) of Gross Rent.

Gross Rent Tax means an amount equal to one and forty-three hundredths percent (1.43%) of Gross Rent.

Gross Rent Tax means an amount equal to one and twenty-five hundredths percent (1.25%) of Gross Rent.

Gross Rent Tax means an amount equal to seventy-five hundredths of one percent (0.75%) of the Gross Rent in the tax year in which such real property tax payment is made.

Gross Rent Tax means an amount equal to ten percent (10%) of the Gross Rent for the tax year in which the real property tax payment is made.

Gross Rent Tax means, with respect to any tax year, an amount equal to nine- hundredths of one percent (0.09%) of the Gross Rent in such tax year; provided, however, that if the Owner fails to provide the Gross Rent on or before the Gross Rent Deadline,