Is Commercial Real Estate Really In A Recession? Kind Of, Economists Say
When it comes to economic growth or deceleration, commercial real estate has historically been a lagging indicator, taking longer to slow than other parts of the economy, economists told Bisnow. But this time, CRE values are dropping before the job market has cooled and consumer spending has dropped.
San Francisco Landlords Have Filed a Lawsuit Trying to Stop the City's ‘Empty Homes Tax'
The new lawsuit comes from a handful of San Francisco property owners, including Eric Debbane and Andrew Debbane, brothers who own several residential buildings in the city; Robert Friedland, who owns a NOPA apartment building; and Natasa Zec, who owns a Divisadero condo; as well as the San Francisco Apartment Association, the Small Property Owners of San Francisco Institute, and the San Francisco Associaiton of Realtors.
Assessor says to Expect Property Tax Increase
KNIA KRLS Radio
Marion County Assessor Kelli Kingrey tells KNIA/KRLS News, county-wide residential values need to increase by approximately 19-20%. This is based on 2022 sales. She adds they are required by the Department of Revenue to be at 100% market value using the prior year's sales data. Some areas of the county will see slightly less of an increase while others will see slightly more – it all depends on the sales data from the area.
Hillsboro Fire chief says district will lose six firefighters if tax increase fails
Hillsboro Fire Chief Brian Gaudet said district voters will once more be asked to approve a tax increase needed to keep six firefighters employed. The Hillsboro Fire Protection District has placed Proposition Full-Time Staffing on the April 4 ballot, which asks voters to approve a property-tax increase of 35 cents per $100 assessed valuation. It requires a simple majority to pass.
High home valuations, property tax rates worry Douglas County homeowners
If you had a case of sticker shock from your property tax bill, you're not alone. 750 Metro homeowners formally complained to the Douglas County Assessor trying to convince an appraiser that their home valuations are wrong, per 2023 numbers. That compares to 587 formal complaints in 2022, 706 in 2021, and 1,155 in 2020.
Atlantic City Casinos Will ‘Pay Fair Share,' New Jersey Governor Assures
Atlantic City casinos have paid a collective property tax since 2016. The tax arrangement, known as payment-in-lieu-of-tax (PILOT), was orchestrated after five casinos in town closed between 2014 and 2016. The remaining casinos argued that their property value assessments were far too high after the local economy unraveled.
Dallas property appraisal website is back from crippling attack, but appraisals delayed
It is back from the dead! DCAD—the Dallas Central Appraisal District—is almost fully recovered from a devastating ransomware attack last November that shut down its computer systems. Officials there suspect an overseas outfit called Royal Ransomware is responsible. They say the FBI is investigating.
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