San Francisco chief economist estimates $200 million hit to property tax revenue from remote work
San Francisco could lose around $200 million by 2028 in property tax revenue because of offices emptied as people work from home, under the worst case scenario detailed in a report from the city's chief economist Ted Egan. The hub of the technology industry is experiencing record office vacancies.
Two companies lose property tax breaks in Bay County
Two companies the Bay County Economic Development Alliance recruited to the area are no longer eligible for a tax break. Bay County Commissioners voted to end property tax breaks for Air Temp of America, Inc. and Clark & Sons at Tuesday's meeting. They said the two companies closed shop in Bay County mainly due to Hurricane Michael and the pandemic.
Tax bill sticker shock hits Chicago
The Cook County Treasurer's office yesterday posted the long-awaited property tax bills for city homeowners. And it wasn't pretty. Why it matters: After a three-month delay and ugly politics, many local homeowners will pay more taxes — and, in some cases, way more.
Folgers tax break saga heads to New Orleans court
A judge will hear arguments Thursday in a property tax lawsuit between Folgers Coffee Co. and Orleans Parish Assessor Erroll Williams. Folgers is suing Williams following a tax exemption fiasco that left the company owing millions in past due property taxes for its facility. The company is asking an Orleans Parish Civil District Court to throw out the tax bill, which comes to about $5.1 million in current and back taxes.
Reform NYC's Property Taxes, And Soon: City Officials Say
For homeowners who didn't have three hours to spare, here's the takeaway from a marathon City Council hearing Tuesday: New York City's property tax system is terrible and must be changed. But how — and, perhaps more importantly, if — the property tax system could change depends on New York City and state elected leaders working together, officials said.
Justice reiterates pledge to eliminate West Virginia's car tax
Gov. Jim Justice promised again on Wednesday to work to eliminate the state's personal property tax on vehicles during the upcoming session of the West Virginia Legislature. While traveling the state to advocate against passage of proposed Amendment 2 in the lead-up to last week's election, Justice repeatedly said a bill containing his plan to essentially negate the car tax would be his first priority in January.
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