INTERNATIONAL

UK Film Studios Hit By Crippling Property Tax Hikes As Talks Continue
Deadline
British film and TV studios have been hit by potentially existential increases in property tax bills, as industry representatives continue to plead their case with a government agency. The Valuation Office Agency (VOA) officially introduced a so-called “studio tax” from the start of the month, which some independent facilities have argued could force them out of business.

NATIONAL

Nearly $39B In CMBS Office Loans Will Default, J.P. Morgan Predicts
BisNow
J.P. Morgan predicts about 21% of CMBS loans associated with office properties are going to default, equal to nearly $39B, assuming office occupancies don't recover from their pandemic-era slump. Under that scenario, the loss rate for loan holders would be 8.6%. 

Apartment Sales Plunge As Lower Values, Cost Of Financing Stop Deals In Their Tracks
BisNow
Apartment sales have plummeted to their lowest point in 11 years, signaling hesitance among investors who once viewed the sector as commercial real estate's golden child. Investors purchased $14B worth of apartment buildings in the first quarter of 2023, a 74% drop year-over-year and the largest decline since Q1 of 2009.

ARKANSAS

Arkansas Tax Deadline Extended After Severe Storms, Tornado
Kiplinger
Following severe thunderstorms and tornadoes in Arkansas, some taxpayers in the state have more time to file their 2022 federal, and state, tax returns. The IRS extended the tax filing deadline to provide relief for people in designated disaster areas of the state. And Gov. Sarah Huckabee Sanders extended the state income tax filing date for those directly impacted by the storm.

GEORGIA

‘It was very embarrassing': DeKalb mother says she was evicted, even though she was paying rent
WSB-TV Channel 2
Chanel Wright told Channel 2′s Ashli Lincoln she was surprised and terrified when DeKalb County law enforcement told her, her family, including her paralyzed daughter and elderly grandmother had one hour to collect their belongings and get out of the property. “It was a scene; it was very embarrassing also,” said Chanel Wright.

IDAHO

Oregon data center energy bill fails, Idaho limits data center tax breaks
DCD
Introduced in January 2023, the bill would have required data centers to reduce the emissions of their electricity use by 60 percent below baseline emissions levels by 2027, 80 percent below baseline emissions levels by 2030, 90 percent below baseline emissions levels by 2035, and 100 percent below baseline emissions levels by 2040.

IOWA

Central Iowa property assessments up by record amounts
KCCI
Have you seen your new property assessment yet? Values are going up by about 22% in Polk County and surrounding counties. "I received my tax assessment, and it was quite a bit higher than it was before," Des Moines homeowner Marta Hawkins said.

Most downtown Des Moines office properties saw no changes in assessed valuations; other areas saw substantial hikes
Business Record
The assessed valuation of nearly all office properties in Des Moines' central business district remained unchanged in the 2023 reevaluation, a sharp contrast to the double-digit percentage increases experienced by most other commercial property in Polk County, an official said.

KANSAS

Kansas Senate passes constitutional amendment restraining property tax valuations
Kansas Reflector
Independent state Sen. Dennis Pyle questioned Wednesday the real intention of placing a constitutional amendment about property taxes on the November 2024 general election ballot. The Senate declared an emergency and suspended rules Wednesday to take action on Senate Concurrent Resolution 1611 shortly after it materialized. 

MASSACHUSETTS

School tax hike loses in Rehoboth
thesunchronicle.com
Voters for a third time rejected a tax hike to pay for the new high school in Taunton that the town's vocational students attend. The ballot question failed by a vote of 408 to 369 in Tuesday's annual town election that also featured three races.

MONTANA

Montana lawmakers consider legislation on short-term rentals
KTVH
As Montana lawmakers have debated housing policy this session, one topic of discussion has been the impact of short-term rentals – spaces rented for 30 days or less, including through services like Airbnb and Vrbo. On Wednesday, about 20 short-term rental hosts came to the State Capitol to meet with lawmakers and share their perspective on that growing market.

NEW HAMPSHIRE

The owner of Smith Hydro drops tax appeal against city
conwaydailysun.com
In a significant victory for the city, the owner of the J. Brodie Smith hydroelectric plant in Berlin has withdrawn its tax abatement appeals in Coos County Superior Court. Central Rivers Power had appealed the city's assessment of the 15-megawatt facility for tax years 2018, 2019, 2020, and 2021.

TEXAS

Phelan: Texas House will pass Property Tax Relief Act
Center Square
Speaker Dade Phelan said the Texas House will pass HB 2, the Property Tax Relief Act, filed by Rep. Morgan Meyer, R-Dallas. Phelan issued a statement on Twitter saying the law would “provide real relief to all Texas property owners and contribute to the largest tax cut in state history” and that the Texas House “looks forward to passing it soon.”

Overall home values in Williamson County decline — what it may mean for your property taxes
KXAN Austin
The Williamson Central Appraisal District released its appraisal valuation notices last week. The overall average was that homes were appraised roughly 12% less than they were in January 2022. Alvin Lankford, WCAD chief appraiser, said this is the first overall decline in valuations he's seen in the county in 23 years, following record valuations last year.

One House. Two Counties. Who Gets Your Money?
98.7 the bomb
So county lines are an interesting thing. They seem to make no rhyme or reason to me about where Potter County ends and Randall County begins. I am sure someone just threw a dart and said "Hey, this is where the county line should be." It sure sounds good to me.

WASHINGTON

Seattle leaders discuss proposed $970M housing levy and need for thousands of homes
KOMO
City leaders on Wednesday discussed Mayor Bruce Harrell's high-priced plan to increase affordable housing for thousands of Seattle families as new builds fail to keep up with job growth and costs are skyrocketing. But, some taxpayers don't want to foot the bill.