Kohl's, Nordstrom, and Others Could See Closures in 2023
A wave of closures may be coming for US department stores. That's according to analysts at UBS, who predicted this week that national chains could have to shutter some brick-and-mortar locations in 2023 – even those that survived the combined challenges of the retail apocalypse, which devastated the industry from 2017 to 2020, and the pandemic shutdowns.
Santa Clara County loses revenue from Stanford's property tax exemptions
San José Spotlight
Stanford University received more than $16.8 billion in tax exemptions last year for its various campus properties, nearly half of the $35.2 billion of property tax exemptions in the county, according to the Santa Clara County Assessor. This means there is less tax revenue to support local public schools, community colleges, special districts like VTA and county and city governments.
Here's a stunning stat: During a typical week, San Francisco's office buildings are at roughly 40% of their pre-COVID occupancy. Why it matters: Once bustling, "today San Francisco has what is perhaps the most deserted major downtown in America,
DISTRICT OF COLUMBIA
D.C. officials offer tax relief to turn downtown offices into housing
The Washington Post
For years, the Vanguard building in downtown D.C., once home to the Peace Corps, has sat empty. On Thursday, Mayor Muriel E. Bowser (D) celebrated the future of the 1960s-era Vanguard — and housing in downtown — at a ceremony kicking off the building's conversion into swanky new apartments.
Disney is suing over its property tax assessments — again
Some things in this world are certain, like death and Disney fighting its taxes. Walt Disney Parks and Resorts recently filed a dozen lawsuits to appeal the 2022 property tax assessments done by the Orange County property appraiser.
Oahu home values jump for second year in a row; thousands poised to pay higher property taxes
Retiree Lawrence Hee and his 96-year-old mother have lived in their two-bedroom family home since 1958. And year after year, when it's time to pay their property taxes, "it's shocking when it keeps going up, cause we're on a fixed income." "It makes you wonder what it'll be in the future," he said. "It's just unbelievable."
Shoshone County, Silver Mountain tax saga nears end
It was more than five years ago that Shoshone County and Silver Mountain Resort squared off in what has become a lengthy legal battle over what the value of the resort is and how much it should be taxed.
Could financing tool help Bears land at Arlington Park? They'll need help from state lawmakers
Village and state officials confirmed Wednesday the NFL franchise is exploring use of a program called Payments in Lieu of Taxes as one piece of the financial equation to help pay for its $5 billion redevelopment at Arlington Park.
Family's Chicago property taxes increase 440 percent, putting their small Lincoln Park apartment complex in danger of bankruptcy
A Chicago family said their latest property tax bill increased 440% and now their modest apartment complex could go bankrupt. A one bedroom apartment will now cost Michael Markellos $17,494 in property taxes for one year. "This has put us in a tremendous financial bind, the building has gone negative in the bills," he said.
$31,829 property tax bill robs ‘Home Alone' house in 2022
The house used in “Home Alone” is one of Illinois' more famous spots, but while the “Wet Bandits” might not be attempting any burglaries this holiday season, Illinois property taxes still rob from the owners. In the past 20 years, the owners of 671 Lincoln Ave. in Winnetka, Illinois, have paid $614,124 in property taxes.
Iowa Supreme Court raises Nationwide's Des Moines property value
Des Moines Register
The court's justices voted 6-0 to overturn a decision by the Iowa Court of Appeals, which had ruled that the buildings at 1100 and 1200 Locust Street weren't worth as much as the Polk County Assessors' office believed.
State sides with Thomaston in Walmart tax appeal
Knox County VillageSoup
The state gave Thomaston an early Christmas present by denying an appeal by Walmart for a massive reduction in the valuation of its supercenter. The Maine Board of Property Tax Review rejected the appeal that would have cost the town $164,000 annually if successful, Thomaston attorney Paul Gibbons said Friday.
Richmond sees another surge in property values. How much will the average property tax bill go up?
Here's how big a property tax bite Richmond residents can expect, as average single family home values have soared by 22 percent town-wide compared to last year. Thanks to a 16 percent cut in the tax rate approved by the Select Board Wednesday night, residents with an average-priced property, based on the town's assessed value, will see their bill for the year rise from $5,710 to $5,870.
Wind tax disputes with Consumers Energy could lead to Tuscola schools going under
A debate between Consumers Energy and Tuscola County could result in essential bankruptcy for county school districts and Unionville-Sebewaing Area School District. Since wind farms were constructed in the county in 2016 there has been an ongoing dispute between Consumers Energy and the county on the tax applied to the farms.
Lakewood Board Approves Tax Reimbursement To Mall
The Lakewood Board of Trustees has unanimously approved a measure for the village's portion of reimbursement to the Chautauqua Mall for property tax overpayment. The village will pay a total of $58,187.28 with $29,064.64 due now and the remaining $29,064.64 due by Jan. 5, 2024.
Cincinnati property taxes going up for first time in 23 years
Heads up, homeowners. Cincinnati property taxes are going up for the first time in two decades. Cincinnati City Council voted 7-2 to end the property tax rollback. That means you will pay $39 a year more for every $100,000 your home is worth.
Oregon agencies scrutinize controversial fiber-optic deal in Morrow County
Oregon's ethics commission and Department of Justice are each scrutinizing an unusual transaction in Morrow County in which a nonprofit organization sold part of its operation to local political leaders and some of the nonprofit's own board members.
Real estate taxes are rising by 25% in Buffalo Township, average tax bill will increase $30
Real estate taxes are rising by 25% in Buffalo Township for 2023, but officials see that figure as a distortion. Township Manager Rich Hill said that while taxes will be going up from 6 mills this year to 7.5 next, the percentage increase is misleading.
Despite opposition, Bynum ISD favors tax abatement for solar plant project
The Bynum ISD School Board voted 6-1 in support of a tax abatement for the OCI Solar Project. The vote came after nearly 45 minutes of local residents voicing their concerns and urging them to vote against it.
Metcalf looks to continue fight to reform the state's appraisal system in upcoming session
Your Conroe News
The Texas Taxpayers and Research Association estimates these reforms shaved upwards of $6 billion off 2021 property tax bills, and tax rates continue to fall and levies are growing at their slowest pace in years.
Dallas ISD punts tax break ask from manufacturing company ahead of Chapter 313 expiration
Dallas Morning News
Amid pressure from community advocates, the Dallas schools administration pulled a vote to approve a property tax break for a manufacturing company just before trustees were to weigh in on it Thursday night.
Richmond, Virginia homeowners to receive one-time property tax rebates in February 2023
A proposed plan by Mayor Levar Stoney was approved by city council members to send out rebates to Richmond taxpayers in lieu of 2023 property values increasing by an average of 13%. The council previously rejected proposals to permanently reduce property taxes but opted to approve the one-time rebates, which will equate to five cents per $100 of assessed property values.
Property tax, corner-crossing lawsuit values differ for Elk Mt. Ranch
The owner of the 22,045-acre Elk Mountain Ranch, who is suing for $7.75 million in damages from four corner-crossing hunters, paid property taxes last week based on a ranch value that's about 35% of what he claims in court the ranch is worth.