(especially in legal usage) a person who purchases or contracts to purchase; buyer. Origin of emptor. 1870-1875. 1870-75; < Latin: buyer, equivalent to em(ere) to buy + -tor -tor, with intrusive -p-. Examples from the Web for emptor.
Taxes. Because rent is considered income, it is taxable to the extent that your income is taxable. For example, if your income (including rent) minus any allowable exemptions and deductions is still taxable, then your rent is taxable. However, if you also use the rental property as your home, and you rent it out less than 15 days out of the year, then the rent you collect is not considered part of your income.
For a residential lease, the landlord typically pays the property taxes, which are included in the rent. For a commercial lease, the landlord also pays the property taxes, except that the tenant will typically pay for any tax increases above the year in which the lease commenced (Base Year). Some commercial properties are net leased under long-term leases.