Total Land Assessment definition
Total Land Assessment means the amount of the taxes assessed for the then-current tax period for the land (and not the improvements) within the tax parcel in which such Property is included. “Property Land Assessment” means the mathematical product of the Property Parcel Percentage and the Total Land Assessment. “Property Improvements Assessment” means the total amount of all Taxes applicable to the improvements on the Property. For purposes of clarification, Purchaser’s liability to Seller for Taxes for off-site property shall be computed based on land values only and shall not include the value of any improvements located on land which is not located within the boundaries of the applicable Property. Notwithstanding any terms or conditions to the contrary in this Section 9.2, Purchaser shall be solely responsible for any and all Taxes attributed to the separately assessed improvements on the Properties.