America Has Too Much Parking. Really.
The Wall Street Journal
For decades, American cities have had a parking problem: too much of it. Countless residential parking spots go unused, and many downtown garages sit half empty. Ride-sharing and the rise of remote work during the pandemic have aggravated the trend. The average American drove 4% fewer miles in 2022 than in 2019, according to government statistics.
Offices brace for bad news
Commercial Reits have tumbled this month over fears of a credit crunch – but the main risks are in the US Even Manhattan is struggling with weak demand for older buildings After Silicon Valley Bank and Credit Suisse, investors are casting around for the next crisis and commercial real estate (CRE) is number one on the list. US real estate investment trusts (Reits) have tumbled.
Douglas County officials worry a property tax cap could hurt local services
Some Colorado homeowners reaped the benefits of skyrocketing home prices in recent years, selling homes for much more than they paid to buy them. But for those who stay put, there's a drawback: When home prices rise, so do families' property tax bills.
Iowa's environment takes hits on the legislative back burner
While the Republican-controlled Legislature has grabbed headlines handing out more gifts to the religious right than can be found at your local Hobby Lobby, the condition of God's green earth in Iowa has been taking some hits. Iowa's environment is on the back burner again amid all this fire and brimstone. Still, harmful bills remain alive as lawmakers enter the home stretch.
Legislature works to fix, or eliminate, popular property tax relief program
Portland Press Herald
A popular property tax relief program created last year for Mainers 65 and older may be in for big changes, and could be scrapped entirely and replaced with something else. The property tax stabilization program allows residents who meet the age requirement and have owned a home for at least 10 years to indefinitely freeze their property tax bills so that they would no longer have to pay annual increases resulting from rising tax rates.
R-III district afraid of losing millions in missed revenue
Warren County Record
Leaders of the Warren County R-III School District say they are becoming increasingly worried that the Warren County Assessor's Office could cause schools and other public services to miss out on millions of dollars in future tax revenue.
Storey County could lose 80 percent of Tesla tax windfall under legislation
When Nevada landed the Tesla Gigafactory in 2014 amid national fanfare, part of the deal included $1.25 billion in tax breaks for the electric-car manufacturing giant. Those breaks included a 10-year abatement for Tesla on property taxes and the modified business tax (MBT) for Storey County, home to the Tahoe-Reno Industrial Center.
Dayton school board rejects tax abatement deal for Phase 2 of Dayton Arcade
Dayton Daily News
The agreement would have given the Arcade, which is in a Community Reinvestment Area, a 100% property tax exemption for 15 years. That would directly impact the school district because it uses property tax funding to pay for items like teacher salaries, utilities and other expenses.
With higher property tax implications, Ohio Farm Bureau strongly opposes HB1
Ohio Farm Bureau
The first bill introduced in the 2023 Ohio House is drawing quick opposition from Ohio Farm Bureau. House Bill 1 would create a flat income tax of 2.75%, but what is catching the ire of Ohio's largest farm organization is a change to the property tax system that, if passed, could give landowners in rural Ohio an increase in their tax bill.
Webb Co. property values, and property taxes, expected to go up in '23
Every April property owners will receive an appraisal notice informing them of the value of their property, and the Webb County Appraisal District has said that due to market conditions properties will likely show an increase compared to last year. Bobby Peregoy, Chief Appraiser at Webb County Appraisal District, explained how the appraisal of a property is calculated.
Hospitals keep losing money, but lawmakers may soon pass a plan to help
The program would tax hospitals, which would then allow the state to receive more money through matching funds from the federal government. That extra money would go back to hospitals, which rely heavily on Medicaid patients. For every $1 hospitals are taxed, the state could get a total of $3 with the federal match.
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