Common use of Real Estate Taxes and Assessments Clause in Contracts

Real Estate Taxes and Assessments. Seller shall give Purchaser a credit at closing for the 2021 taxes payable in 2022, based upon the most recent ascertainable tax figures available at closing. Purchaser will assume and pay real estate taxes and drainage taxes/assessments due and payable in 2022 and all tax payments and drainage taxes/assessments thereafter. Any tax proration/allocation made at closing shall be final between the parties and shall not thereafter be adjusted.