This office lease form is regarding the renewal or other extension of the lease as it relates to the "Base Year Taxes" and the "Base Year for Operating Expenses".
Maine Option to Renew that Updates the Tenant Operating Expense and Tax Basis
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State:
Multi-State
Control #:
US-OL2402
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Word;
PDF
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How to fill out Option To Renew That Updates The Tenant Operating Expense And Tax Basis?
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FAQ
Do I have to let the assessors into my house? You do not have to allow the assessors into your home. We only request the inspection in order to be as fair and accurate as possible. However, if an assessor is denied entrance, property owners give up their ability to challenge the assessed value.
Just value is equal to market value. Municipalities must assess property taxes ing to the just value of property. The phrase ?ing to? does not mean that all property must be valued at market value, but all property must be valued at the same relation to market value.
1. Increase of rent generally. Except as provided in subsection 2, rent charged for residential estates may be increased by the landlord only after providing at least 45 days' written notice to the tenant. A written or oral waiver of this requirement is against public policy and is void.
Entry onto the property without explicit permission will be limited to what is legally known as the curtilage, which is the land and yard immediately surrounding your house. An assessor will not enter your house or dwelling unless they have specific permission.
The State Valuation process, which takes about 18 months to complete, begins with the compilation of a sales ratio study which measures the assessed value of residential and certain commercial properties relative to their actual selling price.
?You must let the assessor inside your home.? If you do not want us inside your home, that is your right.
Tenant improvements are typically not considered an operating expense.
About the Board The Board of Assessment Review has the power to grant property tax abatements pursuant to state law and to determine the tax-exempt status of real and personal property.
