How To Contract A Tax Increase
Does someone have existing verbage in a contract to take into consideration a property tax increase during the tern of the lease of a property?
I have a condo that was an apt. The tax is currently $600 a year, but the county will probably boost it up to $2000 a year before the lease is up, but of course they may not do it also.
Any thoughts?
Are you the Owner? Is this a L/O? If you are talking about a Residential Lease, taxes are a cost of doing business. You can't raise the rent on a Fixed-Term Lease until the Lease is up. The Contract can say anything, but that doesn't mean it will hold up in court. If a L/O, you don't want yor T/B to pay property taxes or have anything in the Contract specifying that.
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