NATIONAL

Rental Rates Cooling In 2023 As Midwest Gains On The Sun Belt
BisNow
Apartment rental rates across the U.S. are poised to grow at a notably slower rate in 2023 following a national median rent increase of 3.8% in 2022, with bargaining power expected to shift — albeit slightly — back into the hands of renters. Rents across 90 of the country's largest 100 cities dropped in December, according to Apartment List's first National Rent Report for 2023.

ILLINOIS

Chicago Bears: Clock is ticking on Arlington Park stadium deal
Chicago Tribune
Either way, the clock is ticking. Team officials have said they expect to decide whether to buy the former Arlington International Racecourse property in the first quarter of 2023. The...

MISSOURI

Decision on how to tax solar projects in Missouri not expected soon
KTVO
After multiple meetings on how to tax solar projects in Missouri, the issue may not be resolved as soon as some would like. The top three recommendations from the tax force's report include: A single, uniform and fair method of assessing such projects All commercial solar property, whether owned by a private company or investor-owned, should be assessed locally by county assessors.

VERMONT

‘Crazy (home) sales in COVID bubble' could drive up taxes, prompt reappraisals
reformer.com
Communities where homes are selling at rates much higher than they are assessed are facing dramatic tax increases and a requirement to conduct reappraisals. “It's all the sales market,” said Therese Lounsbury, town clerk in Wilmington and member of the Twin Valley School District Board. “I don't know how we do anything about it but it feels like there should be some hold harmless [provision] because of the COVID bubble, plain and simple.”

WASHINGTON

State Rep. Jim Walsh Proposes Constitutional Amendment Creating California-Style Property Tax Cap
The Daily Chronicle
Under the proposal, property taxes on owner-occupied primary residences would be based on the purchase price when the owner-occupier purchased the property. A homeowner's property taxes would then be forbidden from increasing due to an increase in their home's value. The taxable value of the property would then reset when the owner sells the property.