Rogers stuck with $2M B.C. property tax bill, judge rules
Rogers Communications says a BC Assessment error forced it to pay $2.2 million more in property taxes on its fibre-optic cables than it should have, but a judge has dismissed its petition to fix the problem. In a decision issued Thursday, B.C. Supreme Court Justice Neena Sharma declined to grant the telecommunications giant an order of "mandamus," a legal term for a ruling compelling a public body to perform its duty.
Trump properties aren't the only ones to see wild valuations – putting a price on real estate isn't straightforward
On the lower tip of Manhattan there is a prime piece of real estate, the price of which is somewhat up for debate. To the owners, the Trump Organization, 40 Wall Street is worth an eye-watering $735 million, or at least it was in 2015. Others disagree, pointing to an appraisal that year by a real estate firm that priced it at $540 million.
Newsom to let developers convert many vacant stores into homes
California Gov. Gavin Newsom signed a pair of bills into law on Wednesday that will enable developers to more easily convert vacant stores into homes. The new laws will open much of California's commercial land for residential development, overriding local codes pertaining to where housing can be built.
South Bay Home Sales Drop 17%
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The 2022 recession appears to be coming in stronger and faster than predicted. Year-to-date home sales in the South Bay have dropped by 17% compared to 2021 sales through July. Month to month, from June to July, home sales fell by 12%. The July drop followed a lackluster June performance of only 1% over May which was itself down by 13% from April.
Georgia Judge Nixes Tax Break for Electric Truck Firm Rivian
Morgan County Superior Court Judge Brenda Trammell rejected what is normally a routine request by a local government to validate a bond agreement, ruling Thursday that the development authority that brought the case hadn't proved that the $5 billion plant, projected to hire 7,500 people, was “sound, reasonable and feasible” as is required under state law.
GM, LG Granted Tax Exemptions For Indiana Ultium Cells Plant
The approved agreement comes directly from St. Joseph County, where the Ultium Cells battery plant will likely be built. The exemptions include a real property tax exemption lasting ten years and a personal property tax exemption lasting 15 years, which could provide approximately $270 million in savings over the 15-year period.
Price Spike: Assessed values shoot up by double digits across four-county area
If you want to talk inflation, here's a good place to start — property values. Consumer prices are up around 8% year-over-year. But that's measly in comparison to what's happened in local assessed values. How about 11-17% increases? And, it's not the first year the region has seen big jumps, either.
Record Year for Brazos Central Appraisal District
It was a record year for the Brazos Central Appraisal District. Dana Horton, Chief Appraiser, says a total of 14,544 protests had to do with the increase in valuation of 15-16 percent. “When you get that notice of your appraised value, you're like woah, wait a minute. I think it has a lot to do with the increase in value, not only in Brazos County, but statewide,” says Horton.
Amid inflation, local governments ponder tax rate increases
Every summer, Jasper County Judge Mark Allen begins to worry about two very different storms brewing: hurricanes and his county budget. Allen and thousands of other local government officials across Texas entered this year's budget season facing historic rates of inflation along with severe labor shortages.
Officials consider property tax relief options to help struggling residents
State and local lawmakers across the Mountain West are eyeing property tax relief as home values rise and many residents, especially seniors on fixed incomes struggle to pay their corresponding tax bills. In Wyoming, average property taxes rose more than 16 percent in just the past year.
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