Property Called "Taxpayer"

In NY I've seen the term "Taxpayer" used to describe property, usually with a storefront or other commercial tennant of the property. What does this term mean and what are it's implications

Comments(7)

  • myfrogger18th April, 2004

    Maybe a NNN lease?

  • DaveT18th April, 2004

    We can't be sure about the definition unless you give us more context. Perhaps a couple of sentences that specifically use the term.

    I can only guess that, since the owner of the property pays the property taxes, the "taxpayer" is the owner of the property.

    But without the context, this is only a guess.

  • InActive_Account18th April, 2004

    Call the tax assessors office and ask. It could mean owned or leased for federal,state, or local government use.

  • tjclancy18th April, 2004

    Thanks for the responses. The term is used in ad's for real estate. One I read today said: "One story commercial building/taxpayer with 8 stores...."

  • DaveT18th April, 2004

    I agree with Myfrogger. I sounds like the tenant is paying the property taxes on a triple net lease.

  • commercialking19th April, 2004

    So call the broker with the ad and ask him. Please let us know.

  • zizzy26th April, 2004

    A taxpayer is generally used to describe a building with ground floor retail, occaisionally with apartments above-usually no more than two stories. The term "taxpayer" implies that the store(s) pay the taxes.

    The great thing about taxpayers - check the zoning...not alot of them left, but if the footprint is big enough, and they've still got their air-rights, and perhaps a variance to boot, make sure to look at the deal per buildable sq. ft(F.A.R). Us NY brokers LOVED those little old taxpayers in the 80's!

    [ Edited by zizzy on Date 04/26/2004 ][ Edited by zizzy on Date 04/27/2004 ]

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