NATIONAL
Your Next Landlord Could Be 100 Random People
WIRED
The three-bedroom, two-bath, split-level house in Fayetteville, Arkansas, looks like a perfect family home. It's got a charming brick exterior, a lush, green front lawn, and a fenced-in backyard perfect for hosting cookouts. It's on a quiet street with two schools and a Boys and Girls Club nearby. But this perfect family home has an unusual owner—or owners.
Property taxes on single-family homes are skyrocketing
Boston.com
The average tax on single-family homes shot up 3% in the United States in 2022, according to a report ATTOM, a data analytics firm, released April 6. The nation saw a 1.8% increase the previous year. A total of $339.8 billion in property taxes were levied on 87 million single-family homes, 3.6% more than the year before.
The 15 States With the Lowest Property Taxes in the U.S.
Bob Vila
How much are you paying in property taxes? Depending on where you live, your property taxes may be modest, or they may actually be higher than your mortgage payment. If you're feeling the property tax pinch, it might be time to seek a little tax relief by moving to a less costly region (hint: your best bets are in the south and middle of the country).
REPORT: U.S. Offices With Biggest Vacancy Jumps All Have A Lot In Common
BisNow
The U.S. office buildings that suffered the sharpest increases in vacancy from the beginning of 2020 to the end of 2022 — those most impacted by the pandemic, in other words — tend to have a number of common characteristics, according to a report by CBRE.
Homebuyers Who Fled South to Escape High Taxes Are in for a Shock
Business Insider
Almost paradise! Miami may not be the complete tax haven that New Yorkers thought it was. For the past three years, New Yorkers have accelerated their moves from the Big Apple for the Sunshine State for year-round warmth, comparably lower costs of living, and smaller tax bills.
COLORADO
Pitkin County officials aim to quell anxiety over a skyrocketing property tax; limits will keep taxes from rising like home prices
AspenTimes.com
As property values rise, so do property taxes. But most property owners in Pitkin County will be shielded from intense tax hikes due to restrictions on tax revenue at the state, local, or tax district level. Colorado requires county assessors to re-evaluate property value every two years on odd years, so property owners are braced for a jump in their property value, plus property taxes.
CONNECTICUT
Taxes increase in Waterbury as property values go up as much as 100-percent
WFSB
If you own property in Waterbury, prepare to pay more this year in taxes. The mayor's budget landed in the hands of the city's Board of Aldermen. In it, there's a plan to phase in a tax increase to match rising property values. It is a strain every property owner is going to feel for the next five years if the real estate market doesn't change.
FLORIDA
Florida Supreme Court backs appraiser in homestead fight
Orlando Sentinel
Rejecting lower-court decisions, the Florida Supreme Court on Thursday said a Sarasota man should not have received a homestead property-tax exemption for part of his house that he rented out. The Supreme Court unanimously sided with Sarasota County Property Appraiser Bill Furst, who in 2014 investigated whether Rod Rebholz should have been receiving a homestead exemption on what was described as a single-family home.
GEORGIA
Homestead exemptions for seniors expected to be on November ballot
Dalton Daily Citizen
Local senior citizens could be paying less in property taxes if voters approve a referendum that would modify homestead exemptions. The proposed changes would increase existing senior homestead exemptions in the city of Dalton and unincorporated Whitfield County. Eight bills sponsored by the local delegation to the state legislature have been passed that would make way for a referendum vote this November.
ILLINOIS
Study Shows Illinois With One Of The Highest Tax Burdens In The Country
Patch
A study reveals that Illinois has the 9th highest overall tax burden at a 9.3 percent share of personal income. “We are not only looking at the actual tax rate by state, property, individual income and excise taxes, but we're comparing that to the personal income in the state,” analyst Jill Gonzalez said.
INDIANA
Town council OKs $250,000 tax abatement for S&J Excavation & Concrete
Seymour Tribune
The owners of an excavation and concrete firm sought and received a $250,000 tax abatement for a new building at the Brownstown Industrial Park from the town council earlier this week. Jim Plump, executive director of Jackson County Industrial Development Corp., presented the request on behalf of S&J Excavation & Concrete LLC.
IOWA
Sioux City Assessor answers questions about assessment notices on higher property values
Sioux Land Proud
“The outrageous percentage and which they're suddenly assessing our homes, mine personally went up 30%, but I know some of the people here went all the way up into the 60 percentile. For me, that said OK we need to be able to speak out, taxation with representation,” said Deserae Peck, a resident that lives in the Morningside area.
Assessments jump by 30%
Storm Lake Times Pilot
Assessments were mailed to all property owners in Buena Vista County late last week. Residential increases tracked between 15% and 33%. Increases in other classes — commercial, residential and multi-residential — tracked a similar trajectory. Assessor Joe Cronin declined to estimate the average increase in all property classes.
2023 Iowa property tax assessments: Farmland on the rise
weareiowa.com
The Polk County Assessor's Office anticipates an average 36% increase in agriculture property this year. In Ames, that average increase is roughly 40%. The steep hike in property values is concerning for Iowa Corn Growers Association Chair Lance Lillibridge, who says his 1,400 acres have continued to get pricier over the years.
KANSAS
Constitutional amendment designed to limit property tax valuation increases moves through Kansas Senate
KVOE
The Kansas Senate has passed a plan that leadership says will limit property tax increases for residents across the state. The Senate passed SCR 1611, a constitutional amendment to limit annual valuation increases at 4 percent for real property. There are exceptions if properties are renovated or sold.
LOUISIANA
The Case for Industrial Tax Exemptions
Pelican Post
From a purely fiscal standpoint, arguably, Ascension is performing better than any other parish in the state (and a publication called Stacker recently named it the best place to live in Louisiana). That ranking was based upon various factors as determined by a publication called Niche and raw data compiled by Louisiana's Tax Commission in 2022 backs ups the conclusion.
MICHIGAN
Housing developers find their next big opportunity at golf courses
Crain's Detroit Business
Developers across West Michigan are seizing a prime opportunity to turn the region's abundance of golf courses into badly needed housing.
MINNESOTA
MSP Office Vacancy Up 12% From Last Year
Twin Cities Business
With over 21.2 million square feet of vacant office space in the Twin Cities metro, office vacancy rates in the area are up 12.2% year over year, according to a recent report by Toronto-based Colliers International. While the Minneapolis-St. Paul labor markets have shown strong resilience to layoffs, office occupancy remains low which has offices in both Minneapolis and St. Louis Park.
MISSOURI
Italian meats manufacturer Principe Italia opens plant in Columbia
Columbia Daily Tribune
Arby's may no longer be able to claim "It has the meats" after Principe Italia celebrated its grand opening Thursday in Columbia. The Italian meats factory is a subsidiary of JBS Foods, a major U.S. meat-product manufactuer, which also has Swift Prepared Foods plant making bacon in Moberly. Principe is under the Swift portfolio.
NEBRASKA
After losing his wife, a Nebraska man lost his home to an unconstitutional state tax scheme
Pacific Legal Foundation
Losing a spouse is one of the most devastating events a person can experience. Losing the home wherein you made all your memories together immediately after adds an extra layer of grief no one should have to carry. Kevin Fair and his wife Terry lived in their Scottsbluff, Nebraska, home for nearly two decades.
NEW YORK
'This is not fair': Nearly 1,500 people challenging property reassessments in Irondequoit
WHAM
Many residents in Irondequoit were left with sticker shock when they got their reassessment notices in the mail. Ava Coleman said her property value had doubled since the last reassessment in 2018. She expects about a $700 increase in taxes, according to the notice.
NORTH CAROLINA
Even at revenue neutral, 92% of Charlotte homeowners will see tax increases
Yahoo News
Mecklenburg County is currently in the revaluation process. Every four years, homes are assessed to determine their worth. Most homes across Charlotte and Mecklenburg County are worth much more now than they were four years ago, and come tax bill time, homeowners will have to pay up.
TEXAS
County Appraisal District hires chief appraiser
Colorado County Citizen
The Board of Directors of the Colorado County Appraisal District has announced that Mark Price has accepted the position of Chief Appraiser of the District on March 28. Price has been in property tax appraisal for 38 years. He graduated from Texas A&M University in 1983 with a Bachelor of Science…
Here's what Dallas-Fort Worth homeowners paid in property taxes in 2022
Dallas Morning News
With North Texas housing prices up by 130% in the last decade, residential property taxes have soared. The average Dallas-Fort Worth homeowner paid about $6,100 in property taxes in 2022, according to estimates from researchers at Attom Data Solutions. Nationwide, the average single-family tax bill last year was $3,901.
Dallas-area apartment rents up 21% since March 2020
wfaa.com
Rents in the Dallas area increased 0.7% month-over-month in March, compared to a 0.5% increase nationally. Dallas-area year-over-year rent growth currently stands at 3.6%, compared to 1% at this time last year. Rents in DFW are up by 21% since the start of the pandemic in March 2020. Median rents in the Dallas area currently stand at $1,201 for a one-bedroom apartment and $1,435 for a two-bedroom unit.
Home valuations are up again in Harris County despite a shaky real estate market
Houston Public Media
If you thought you might get a break on your home valuation this year, think again. The Harris Central Appraisal District said Thursday that home values in the Houston-area are up again despite what has been a shaky local real estate market over the past year. "The average across the county for homeowners is about 16%," HCAD spokesman Jack Barnett said.
Fort Bend County judge in the dark about agenda item
FB Independent
Fort Bend County Commissioners Court's opaque agenda items reveal precious little, with no back up information. And the county judge himself had to do a Google search to understand an agenda item.
Lubbock Co. property taxes rise by double digits for second year in a row
Everything Lubbock
Tax appraisals have made their way out and property owners are not happy with the 13% increase on top of the 16% increase last year. According to numbers provided by the Lubbock Central Appraisal District, median percentages have increased almost four times over since 2020.
VERMONT
Stowe farmers pay more to pay a lot less in taxes
VTDigger
Stowe farmers who participate in a local ag-based tax stabilization program will pay more in property taxes going forward, but still less than if they enrolled their land in the state's current use program and significantly less than non-farming folks. Last week the town re-upped its agreement with four farm families to tax their farm and forestland using reduced appraisal values, a deal that has been in place in Stowe since the early 1970s.
WYOMING
Laramie County assessor Kenneth Guille has resigned
wyomingnews.com
Kenneth Guille, the Laramie County assessor, has submitted his resignation to the county's Board of Commissioners. Guille said in a statement that he has been appointed to the position of property tax administrator with the Wyoming Department of Revenue.
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