Kneehill County cancels nearly $5 million tax arrears for Trident Exploration
Kneehill County council approved the cancellation of nearly $5 million of tax arrears and penalties on former Trident Exploration assets during the regular Tuesday, January 24 council meeting. Property Tax officer Caroline Siverson presented the request to council and explained the arrears included levies from 2019 to 2022, as well as over $2.7 million in penalties, and some $8,500 in legal fees.
Senate bill aims to radically change how oil and gas property taxes are calculated
The Alaska Landmine
Last week, the Senate Resources Committee introduced Senate Bill 50, “An Act relating to the assessment of property for the purposes of the oil and gas exploration, production, and pipeline transportation property tax; and providing for an effective date.” It's a short bill, but it would radically transform how oil and gas property taxes are determined in Alaska.
NFIB advocates Arizona business property tax relief
Financial Regulation News
The National Federation of Independent Business (NFIB) is encouraging Arizona state lawmakers to support a pair of measures the organization maintains would provide job creator property tax relief. NFIB State Director Chad Heinrich recently delivered testimony before the Arizona Senate Finance Committee regarding SB 1276 and SB 1263, offering insight into how tax relief would improve Arizona's job creator business climate.
Report: Tax breaks costing schools big money
Public schools across the state are losing out on close to $2 billion a year — and probably a whole lot more — because of tax breaks given to corporations by economic development agencies. That's among the conclusions of a study released today by Good Jobs First, a national research group that tracks economic development subsidies. The report said tax breaks affecting schools in New York far outpace those in other states.
Property Appraisal Caps Unlikely to Pass in Texas
Lawmakers and tax experts alike are rejecting proposals to cap year-over-year increases in appraised home values, and hence property taxes, for Texas homeowners, calling it a Band-Aid that simply shifts the tax burden to other property owners and distorts the real estate market, reports Jeremy Wallace in the Houston Chronicle.
‘Just Go Away' – Houston's Office Woes Mean Some Buildings Could Be More Profitable As Parking Lots
High interest rates, an inflationary environment and a looming potential recession will make this a difficult year for commercial real estate. According to speakers at Colliers' 2023 Houston Trends event, that means it is time to accept some unpleasant truths about the state of the market, including what's in store for older office properties in the city's central core.
Many second homeowners pay a lower tax rate than residents, will the Legislature change that?
The Mountain Times
In more than a third of Vermont towns, primary residents are taxed at higher rates than those who own second homes or commercial land, according to a VTDigger analysis of property tax rates. But that could change this legislative session if Vermont lawmakers take up reforms that have been researched throughout the past year.