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year or years) paid between October I, 2000 and September 30, 2001; to the <br />extent it does, the excess operating expenses shall be carried over to the next <br />year's operating expenses but also subject to the 105% limitation. <br /> <br /> (e) Calculate the real property taxes paid between October 1, 2001 and <br />September 30, 2002; provided, however, that if there has been a change of <br />ownership (see California Revenue and Taxation Code section 60 et seq.), and, <br />regardless of when the change of ownership occurred, the real property taxes paid <br />between October 1, 2001 and September 30, 2002, have increased more than <br />105% of the real property taxes paid between October 1, 2000 and September 30, <br />2001, the real property taxes shall be calculated as set forth in subsection <br />6.60.050B of this Chapter. <br /> <br /> (f) Add the mounts in (b), (c), (d) and (e). This equals the monthly rent <br />for 2003. <br /> <br /> (g) Add the capital improvements cost, if any, to (f). Round to the nearest <br />half dollar. This is the adjusted monthly rent for 2003. <br /> <br />See the examples in Exhibits B-1 and B-2 and B-3 at the end of this Chapter. <br /> <br />For 2004 and thereafter: <br /> <br />(Steps (a) and (b) that were performed for 2003 are not necessary.) <br /> <br /> (c) Multiply the base rent for the previous year by the cost of living, but <br />not by less than 1% nor by more than 5%. (This amount, when added to the base <br />rent for the previous year, yields the base rent for the next year. For example, to <br />calculate the base rent for 2004, multiply the 2003 base rent by the 2003 cost of <br />living (but not less than 1% nor more than 5%) and add that amount to the 2003 <br />base rent.) <br /> <br /> (d) Calculate the operating expenses including any carryover expenses <br />from the previoug year or years; provided, however, that this amount shall not <br />exceed 105% of the previous year's allowable operating expenses; to the extent it <br />does, the excess operating expenses shall be carded over to the next year's <br />operating expenses but subject to the 105% limitation. <br /> <br /> (e) Calculate the real property taxes; provided, however, that if there has <br />been a change of ownership (see California Revenue and Taxation Code, Section <br />60 et seq.) and, regardless of when the change in ownership occurred, the real <br />property taxes paid for the year (ending September 30) have increased more than <br />105% of the real property taxes paid for the prior year (ending September 30), the <br />real property taxes shall be calculated as set forth in subsection 6.60.050C of this <br />Chapter. <br /> <br />10 <br /> <br /> <br />