9.14 V. Real Estate Taxes
| Jurisdiction | New York |
V. Real estate taxes
In general, real estate taxes are the landlord’s legal responsibility; a tenant becomes liable only for the taxes that it specifically agrees to pay as a result of lease negotiations. Like the operating expense clause, however, a real estate tax clause can be used as a catch-all to cover additional charges. Help your client control occupancy costs by limiting what building ownership may include in billable real estate taxes.
First, limit your client’s obligations to (1) real estate taxes, or (2) taxes a community may impose instead of real estate taxes. A lease should protect your client from paying a landlord’s income taxes, corporate taxes, taxes on rents and gross receipts, inheritance taxes, capital gains taxes, and payroll taxes. Be careful about language that tries to make your client responsible for undefined taxes that a government authority might impose some time. One tenant...
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- 9.0 I. Introduction
- 9.1 II. The Space
- 9.2 III. Operating Expenses— The Trickiest Clause
- 9.3 A. Umbrella Or Enabling Clause
- 9.4 B. Exclusions
- 9.5 C. Capital Improvements
- 9.6 D. Double-Dipping
- 9.7 E. Electricity
- 9.8 IV. Rent Increases
- 9.9 A. Base Year
- 9.10 B. Fair Share
- 9.11 C. IndeXIng The Rent
- 9.12 D. Overlapping Escalation Formulas
- 9.13 E. Disappearing Indices
- 9.14 V. Real Estate Taxes
- 9.15 VI. Alterations, Maintenance, And Repair
- 9.16 A. Alterations
- 9.17 B. Maintenance
- 9.18 C. Wear And Tear
- 9.19 VII. Casualties And Catastrophes
- 9.20 A. Casualties
- 9.21 B. Other Catastrophes—Off-Site Events
- 9.22 VIII. Escapes And Extensions
- 9.23 A. Subleasing
- 9.24 B. Assignment
- 9.25 C. Renewals
- 9.26 IX. Dispute Resolution
- 9.27 X. Negotiating The Workletter
- 9.28 A. The Build-Out Workletter
- 9.29 B. Interior Allowance And Fit-Up
- 9.30 XI. Conclusion
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