Life Insurers Shy Away From Office Loans As Rents Fall, Values Dwindle
Another segment of lenders is pulling back from the office market, putting yet another dent in the financing options available to owners with debt coming due. A growing number of life insurance companies, which hold about 15% of the $4.5T in U.S. debt backed by commercial real estate, plan to minimize office lending in 2023, according to a new report from The Wall Street Journal.
After Major Default, Reuben Brothers, Michael Rosenfeld Working Out Repayment Plan On Century Plaza
British billionaire siblings David and Simon Reuben, newly at the helm of a large stake in the Century City condo and hotel development Century Plaza, are working out a way to get repaid for loans they made to the project developer that have defaulted.
Property tax spikes could be higher than initially expected in Jefferson County and other Colorado counties
The Jefferson County Treasurer's Office says property taxes there could be even higher this year than residents were expecting. State officials in Colorado initially predicted an increase just shy of 30%. New data shows it may be closer to 40% or 50% in some areas. This year's assessments are based on last year's property tax values, which skyrocketed for many residents.
Disney tax challenges could cost FL schools $100 million
New York Post
Disney's distaste for property taxes could stiff Florida public schools out of more than $105 million, officials charged Wednesday. The new council to oversee the corporation's operations in the state, appointed by Gov. Ron DeSantis, has wasted no time in re-evaluating some of their predecessors' decisions.
JoCo residents can 'fully expect' another property tax rate cut
Shawnee Mission Post
County commissioners and administrators are only beginning their consideration for a 2024 budget that is presenting challenges on multiple fronts: inflation, a workforce shortage and persistent fears of a possible recession. On top of all that come skyrocketing property tax bills that are being digested by residents who got their appraisal notices a few weeks ago.
Trying to protest your Tarrant home value? Appraisal District says website is overwhelmed
Since this year's property value notices were released, Tarrant County property owners have reported being unable to access the Tarrant Appraisal District website. The website's functionality is critical during property tax season, because it allows the owners of the county's nearly 680,000 residential and commercial properties to view their values and protest their values online.
96% of Harris County homes see property value increases as seller's market persists
Harris County single-family residential property values continue to rise despite slowing sales, according to the Harris Central Appraisal District. “We are again seeing a large number of residential and commercial properties in Harris County increasing in value this year,” Chief Appraiser Roland Altinger said in a press release.
Bill to raise real estate tax ‘absolutely' still alive in Olympia
With five days left in the legislative session, one of two new tax proposals is still under consideration, according to state Democratic Rep. April Berg. “That bill is absolutely still alive,” said Berg. Berg's bill would raise Washington state's real estate excise tax for some home sellers.
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