Updates

Brusniak Turner Fine Updates 3/4/2021

Posted by John Brusniak | Mar 04, 2021 | 0 Comments

INTERNATIONAL

UK extends commercial property tax holiday for retail and hospitality
Yahoo Finance
Business rates are charged on the value of property occupied by business. The year-long exemption has cost the government about 10 billion pounds ...

NATIONAL

Empty Office Buildings Squeeze City Budgets as Property Values Fall
The New York Times
For states, property taxes account for just about 1 percent of tax revenue, but they can make up 30 percent or more of the taxes that cities and towns ...
 
Samsung considers four sites in U.S. for $17 bln chip plant -documents
Financial Post
Samsung Electronics Co Ltd is considering two sites in Arizona and another one in New York in addition to Austin, Texas, for a new $17 billion chip plant, according to documents filed with Texas state officials.

It's a Buyer's Market for Law Firm Real Estate, as Many Mull Office Space Options
Law.com
Big firms are waiting to see how new trends like working remotely play out for office space post-pandemic, but that wait-and-see approach has created a tenant's market with opportunities for proactive firms in the short term.
 
Disney Closing at Least 60 North American Retail Stores in Move Toward E-Commerce
People 
By getting rid of the brick-and-mortar stores, the goal over the next year is to focus on "a more seamless, personalized and franchise-focused ecommerce experience through its shopDisney platform."

INDIANA


Indiana Homeowners Failed To Prove $0 Value For Partially Constructed Residence Assessed As 100% Complete
JDSUPRA
Homeowners in Jefferson County argued that their partially constructed home should not have been assessed as 100% complete for the 2008 and 2009 tax years. 

MISSISSIPPI

Bills could allow counties to lower taxes for energy companies
Yahoo News
2—CHICKASAW — A pair of bills moving through the Legislature would allow Chickasaw County to lower its tax abatement below the current legal ...

MISSOURI

Waddell & Reed no longer planning to move to new downtown KC office tower
fox4kc.com
The city agreed to a 6-year 75% tax abatement with the company. After nine years, it would turn into 37.5%. The developer also got a sales tax ...

TEXAS

Volatile Texas oil and gas industry threatens billions in school funding, study says
Houston Chronicle
Texas' reliance on the oil and gas industry could jeopardize up to $29 billion in public school funding over the next 15 years, according to a new study by two nonprofit policy groups.

WYOMING

Reluctant ranchers: Tax benefits keep landowners herding cattle, haying
Jackson Hole News&Guide
Property taxes in Wyoming are typically predicated on the estimated value of the land itself, but when a tract is in agriculture the valuation is instead ...

About the Author

John Brusniak

John Brusniak, Jr. is the dean of Texas property tax litigation.  He was licensed to practice law in 1976,   His early career involved general litigation and appellate work in both the federal and state courts until he was handed his first property tax matter.  It arose prior to the implementatio...

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