This form is a clause regarding additional rent element of an office lease providing for tax increases. The tax increases pertain to assessments and special assessments levied, assessed or imposed upon the building and/or the land under, including any land(s) dedicated to the use of, the building, by any governmental bodies or authorities.
The Nassau New York Tax Increase Clause, also known as the Nassau County Tax Increase Clause, is a specific provision that is included in leases or rental agreements within Nassau County, New York. This clause allows landlords to adjust the rent of the property based on any increase in property taxes imposed by the county or local government. The primary purpose of the Nassau New York Tax Increase Clause is to protect landlords from experiencing financial burdens resulting from unforeseen property tax increases. By including this clause in a lease, landlords can pass on any additional property tax costs to the tenant, ensuring that they are not solely responsible for shouldering these expenses. There are several types of Nassau New York Tax Increase Clauses that can be included in leases or rental agreements. These include: 1. Lump Sum Increase: With this type of clause, the lease may specify a fixed lump sum amount that the tenant is obligated to pay in the event of a tax increase. For example, the clause can state that if property taxes increase by $200 per year, the tenant will be responsible for paying an additional $200 annually. 2. Proportional Increase: In this scenario, the tax increase is divided proportionally among all the tenants based on their lease agreement. For instance, if there are three tenants, each responsible for 1/3 of the rent, and the property tax increases by 10%, each tenant's rent will increase by 10%. 3. Adjustment Calculation: With this type of clause, the rent increase is calculated based on a specific formula outlined in the lease. The formula may consider factors such as the percentage increase in property taxes and the tenant's share of the total rent. It is crucial for tenants to carefully review and understand the Nassau New York Tax Increase Clause before entering into a lease agreement. By doing so, tenants can anticipate any potential rent increases resulting from property tax changes and adequately budget for these expenses. In conclusion, the Nassau New York Tax Increase Clause is an essential provision for both landlords and tenants in Nassau County. It allows landlords to pass on any property tax increases to the tenants, ensuring a fair distribution of financial responsibility. Tenants must be aware of the clause's specifics and understand how it may impact their rental costs in order to make informed leasing decisions.The Nassau New York Tax Increase Clause, also known as the Nassau County Tax Increase Clause, is a specific provision that is included in leases or rental agreements within Nassau County, New York. This clause allows landlords to adjust the rent of the property based on any increase in property taxes imposed by the county or local government. The primary purpose of the Nassau New York Tax Increase Clause is to protect landlords from experiencing financial burdens resulting from unforeseen property tax increases. By including this clause in a lease, landlords can pass on any additional property tax costs to the tenant, ensuring that they are not solely responsible for shouldering these expenses. There are several types of Nassau New York Tax Increase Clauses that can be included in leases or rental agreements. These include: 1. Lump Sum Increase: With this type of clause, the lease may specify a fixed lump sum amount that the tenant is obligated to pay in the event of a tax increase. For example, the clause can state that if property taxes increase by $200 per year, the tenant will be responsible for paying an additional $200 annually. 2. Proportional Increase: In this scenario, the tax increase is divided proportionally among all the tenants based on their lease agreement. For instance, if there are three tenants, each responsible for 1/3 of the rent, and the property tax increases by 10%, each tenant's rent will increase by 10%. 3. Adjustment Calculation: With this type of clause, the rent increase is calculated based on a specific formula outlined in the lease. The formula may consider factors such as the percentage increase in property taxes and the tenant's share of the total rent. It is crucial for tenants to carefully review and understand the Nassau New York Tax Increase Clause before entering into a lease agreement. By doing so, tenants can anticipate any potential rent increases resulting from property tax changes and adequately budget for these expenses. In conclusion, the Nassau New York Tax Increase Clause is an essential provision for both landlords and tenants in Nassau County. It allows landlords to pass on any property tax increases to the tenants, ensuring a fair distribution of financial responsibility. Tenants must be aware of the clause's specifics and understand how it may impact their rental costs in order to make informed leasing decisions.
