Property Tax News Articles & Updates

Brusniak Turner Fine Updates 6/9/2023

Posted by John Brusniak | Jun 09, 2023 | 0 Comments


All-cash homebuyers are becoming 'disruptive' to the housing market
Business Insider
During the pandemic housing boom, homebuyers begrudgingly accepted that they'd face lots of competition, especially from people wowing sellers with suitcases of cash. Many facets of the housing market have changed since then. As for the cash buyers who can pay in full without taking out a mortgage, their power has only increased.


Property taxes on the rise for most residents
The Champion
Each year, the board of tax assessors is required to review the assessed value of taxable property in the county and in each municipality for property tax purposes. When the prices of properties that have recently sold indicates that there has been an increase in the fair market value of any specific property, the board of tax assessors is required by law to reassess the value of such property and adjust the assessment.


Floyd County property tax bills to be resent after error discovered
Property owners will be receiving an updated 2023 tax bill after Floyd County officials discovered an oversight that left $89 million out of the total assessment pool. Taxpayers, both commercial and residential, throughout the county, including in townships and New Albany, will garner credits if their spring bills have already been paid. The amount per taxpayer will vary, but many will see deductions in what's owed for 2023.


Wichita's Towne West has unpaid taxes and checks bouncing
The Wichita Eagle
The owners of Towne West Square haven't paid the mall's property taxes the last two years and have bounced checks to employees twice. The 2021 and 2022 taxes and late penalty interest total more than $363,424 as of Tuesday, according to the Sedgwick County Treasurer's Office. New-York based Kohan Retail Investment Group and Florida-based 4th Dimension Properties bought the struggling mall in July 2019. 


New Jersey Property Tax Cut May Not Work As Intended
Tax Policy Center
A major property tax cut proposal for seniors has New Jersey's legislative leaders at odds with the governor as the state tries to wrap up its budget. Helping seniors pay property taxes is a popular policy, but proponents should better explain the motivation for the bill or consider targeted changes to the tax cut.


Microsoft Puts NYC Times Square Offices on Market Amid Real Estate Pullback
Microsoft Corp. is looking to sublease offices in Manhattan's Times Square as major technology companies cut back on real estate. The Redmond, Washington-based tech firm is marketing more than 42,000 square feet (3,900 square meters) of offices at 11 Times Square, according to real estate data firm CoStar. A Microsoft spokesperson declined to comment.

Poughkeepsie Mall's Valuation Sinks $169M Since 2011 Issuance
Commercial Observer
The value of a Poughkeepsie, N.Y., mall securing two commercial mortgage-backed securities (CMBS) loans has plummeted by 71 percent since debt was issued on the property just over a decade ago, new appraisal data shows. The drop in value underscores the larger challenges faced by older malls, including vacancies and the rise of e-commerce.

Cheektowaga attorney again sues town over property assessments
Buffalo News
Property reassessments are rarely popular. But in Cheektowaga, a local attorney said the town's most recent one is unlawful. Gary Borek, a Cheektowaga resident and tax attorney, filed a class action lawsuit against the town and its former assessor, Jill Murphy, claiming the method the town used to determine 2023 property values resulted in "inequitable and unfair" tax distribution in the town.


Property tax hike, $11M in staff raises coming for SC's fastest-growing county
Horry County homeowners will see higher property tax bills this year, though the increase won't be as steep as county leaders initially projected. County Council approved the tax hike June 6 as part of the county's nearly $768 million budget, which also features over $11 million in staff raises and more than 150 new positions. The budget takes effect July 1.


Justice owes personal property taxes in Wyoming County
Wyoming County tax records show Governor Jim Justice owes more than half a million dollars in personal property taxes. Records at the Wyoming County Sheriff's Office Tax Department show Governor Justice owes around $641,000 for personal property taxes for the 2021 and 2022 tax years. The West Virginia Auditor's Office certified a number of Justice's real estate properties for auction on June 16, 2023 because of unpaid taxes.


Walmart Again Challenging Sturgeon Bay Property Assessment 
Door County Pulse
Walmart is again challenging the assessment of its three parcels along Egg Harbor Road in the City of Sturgeon Bay. The Walmart Real Estate Business Trust – which last year reached an out-of-court settlement with the city to lower its assessment for property-tax years 2021 and 2022 – has filed an objection to its 2023 assessment with Sturgeon Bay's Board of Review.

Wisconsin Republicans try again to repeal personal property tax
Wisconsin Examiner
A Republican bill to ax a disliked and obscure portion of Wisconsin's tax code got a public hearing Thursday, with lawmakers hopeful that this attempt will successfully be passed into law after a similar bill was vetoed by Gov. Tony Evers in the last legislative session. At a press conference Thursday, Republican legislative leaders said the personal property tax repeal is part of an agreement on shared revenue they struck Wednesday night with Evers.

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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