Statement of Income - Escalation Income

[Peter Spera]

First year of managing a family owned commercial building. Received a Statement of Income from the municipality. There is a section regarding "Escalation Income". The lease includes a clause that allows us to annually increase the monthly rent by the amount of annual increase of property taxes. This seems to fit the definition of Escalation Income.  So is the value here the amount of increase for the year or the monthly amount collected on the aggregate of all years. Example: Tenant already pays $300 a month for previous years. This year lets say the property tax increase $1200. So this means an additional $100 is due per month. So is the Escalation income ($300+$100)*12=4800 or $1200?