This office lease clause is used to respond to various changes that might occur within the tenant's office building or shopping center.
West Virginia Measurement Representations and Proportionate Share Adjustment of Tenants Proportionate Tax Share is a concept related to property tax calculations in West Virginia. It involves determining the appropriate proportionate share of property taxes for each tenant based on their leased space. The Measurement Representation in West Virginia refers to the method by which the leased space is measured for tax calculation purposes. Landlords and property owners use specific measurement representations to accurately determine the area occupied by each tenant and allocate the appropriate tax responsibility. There are several types of Measurement Representations used in West Virginia, including: 1. Rentable Area: This representation considers the total area available for lease, including common areas and amenities. It is commonly used in multi-tenant properties such as office buildings and shopping centers. 2. Usable Area: This representation accounts for only the space actually usable by the tenant, excluding shared common areas. It is often used in industrial properties or single-tenant spaces. 3. Gross Leasable Area (GLA): GLA representation includes only the space that is leasable to tenants, excluding common areas and non-leasable spaces. It is often used in retail properties and shopping malls. Proportionate Share Adjustment is another crucial aspect of calculating tenants' proportionate tax share in West Virginia. It accounts for any adjustments made to the allocation of tax responsibility based on factors such as lease agreements, tenant improvement allowances, or other negotiated terms. The Proportionate Share Adjustment ensures that each tenant's tax obligation accurately reflects their usage and space within the property. It ensures fairness and equity in distributing property tax burdens among tenants with different lease terms and conditions. By using Measurement Representations and Proportionate Share Adjustment in the calculation of tenants' tax share, West Virginia aims to provide a transparent and equitable system for property tax assessments. It offers clarity and consistency in determining the proportionate tax burden for each tenant in various types of commercial real estate.
