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How is Rates and Taxes defined in a legal contract?

• Rates and Taxes means any current or future charges including but not limited to taxes, tariffs and outgoings pursuant to laws or regulations, imposed on or applicable to specific premises. Seen in 8 SEC filings.
• Rates and Taxes mean all present and prospective charges, fees, duties and levies imposed by a competent authority in relation to the use, ownership or occupation of a piece of land or premises. This includes water and sewage charges and emergency service levies. Seen in 8 SEC filings.
• Rates and Taxes means all current and future charges including but not limited to taxes, duties and outgoings related to any lands, excluding Outgoings or GST. Seen in 4 SEC filings.
• Rates and Taxes mean all charges such as assessments, levies and other payments related to the property, building and land, excluding the Landlord's income tax and capital gains tax. Seen in 3 SEC filings.
• Rates and Taxes means those charges levied by a competent authority or entity, pertaining to the value of the property and/or amenities, inclusive of increases in these charges. Seen in 3 SEC filings.
• Rates and Taxes mean all current and future charges applicable to the Premises. Seen in 2 SEC filings.
• Rates and Taxes mean a tax, levy or any other charge levied at any time during the term of the lease by any governmental body, in relation to the supply or use of the premises. Seen in 2 SEC filings.

Please note that specific locality or organisation-specific references have been removed from these definitions to make them more universally applicable.

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Which definition should you use?

🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Rates and Taxes means all current and future charges, related to ownership or use of premises.

Relevant Contract Types

• Lease Agreement
• Real Estate Purchase Agreement
• Land Sales Contract

Relevant Circumstances

• Property sales or transfers
• Tenant-landlord agreements
• Development of real estate or land

Relevant Sectors

• Real Estate
• Hospitality
• Retail

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Genie Definition 2

• Rates and Taxes means all levies by a governing authority on property and improvements.

Relevant Contract Types

• Construction Contract
• Easement Agreement
• Property Management Agreement

Relevant Circumstances

• Renovation or new build projects
• Landscaping or land development projects
• Property management services

Relevant Sectors

• Construction
• Property Management
• Agriculture

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Genie Definition 3

• Rates and Taxes mean fees, taxes or levies imposed during lease term.

Relevant Contract Types

• Retail Lease Agreement
• Commercial Lease Agreement
• Franchise Agreement

Relevant Circumstances

• Commercial or retail leasing
• Franchise establishment
• Long term property rentals

Relevant Sectors

• Retail
• Franchising
• Commercial Real Estate

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