This office lease clause is used to respond to various changes that might occur within the tenant's office building or shopping center.
The District of Columbia Measurement Representations and Proportionate Share Adjustment of Tenants Proportionate Tax Share refers to the process and calculations involved in determining the tax obligations for tenants in the District of Columbia based on the proportionate share of property they occupy. This ensures a fair and equitable distribution of tax responsibility among tenants. In the District of Columbia, there are two main types of measurement representations and proportionate share adjustment, namely: 1. Gross Lease Area: This type of measurement representation considers the total floor area leased by a tenant within a property. It includes the entire area of the leased space, including common areas like hallways, restrooms, and lobbies. The tenant's proportionate tax share is then calculated based on their leased area's proportion to the total building area. 2. Usable Lease Area: Alternatively, the usable lease area measurement representation takes into account only the actual area exclusively occupied by the tenant. It excludes common areas and calculates the tenant's proportionate tax share based on their occupied area relative to the total usable area of the property. The proportionate tax share adjustment aims to accurately allocate the tax burden among tenants by considering the size of their leased space relative to the entire property. This adjustment helps prevent disparities in tax obligations and ensures that each tenant contributes their fair share of property taxes. The District of Columbia Measurement Representations and Proportionate Share Adjustment of Tenants Proportionate Tax Share process involves determining the measurement type (gross lease area or usable lease area) used for calculations, obtaining accurate measurements of the leased space, and applying the appropriate proportionate share adjustment formula based on the chosen measurement representation. Keywords: District of Columbia, measurement representations, proportionate share adjustment, tenants, proportionate tax share, gross lease area, usable lease area, property taxes, tax obligations, fair distribution.The District of Columbia Measurement Representations and Proportionate Share Adjustment of Tenants Proportionate Tax Share refers to the process and calculations involved in determining the tax obligations for tenants in the District of Columbia based on the proportionate share of property they occupy. This ensures a fair and equitable distribution of tax responsibility among tenants. In the District of Columbia, there are two main types of measurement representations and proportionate share adjustment, namely: 1. Gross Lease Area: This type of measurement representation considers the total floor area leased by a tenant within a property. It includes the entire area of the leased space, including common areas like hallways, restrooms, and lobbies. The tenant's proportionate tax share is then calculated based on their leased area's proportion to the total building area. 2. Usable Lease Area: Alternatively, the usable lease area measurement representation takes into account only the actual area exclusively occupied by the tenant. It excludes common areas and calculates the tenant's proportionate tax share based on their occupied area relative to the total usable area of the property. The proportionate tax share adjustment aims to accurately allocate the tax burden among tenants by considering the size of their leased space relative to the entire property. This adjustment helps prevent disparities in tax obligations and ensures that each tenant contributes their fair share of property taxes. The District of Columbia Measurement Representations and Proportionate Share Adjustment of Tenants Proportionate Tax Share process involves determining the measurement type (gross lease area or usable lease area) used for calculations, obtaining accurate measurements of the leased space, and applying the appropriate proportionate share adjustment formula based on the chosen measurement representation. Keywords: District of Columbia, measurement representations, proportionate share adjustment, tenants, proportionate tax share, gross lease area, usable lease area, property taxes, tax obligations, fair distribution.
