Nursing Homes Disappearing Nationwide, Down 600 Facilities In 6 Years
The number of nursing homes is dropping nationwide, continuing a trend that started even before the onset of the pandemic and that hasn't slowed since then, according to an analysis published by The Wall Street Journal, based on data from the Centers for Medicare and Medicaid Services. Compared with six years ago, there are about 600 fewer facilities.
Supermarket Chain Closing Fulfillment Centers Across Mid-Atlantic
Supermarket chain Giant Food is closing its mid-Atlantic delivery fulfillment centers, including a 3-month-old facility in Northern Virginia. The Landover, Maryland-based company told employees that its 82K SF industrial facility in Manassas, along with warehouses in Hanover, Maryland, and Milford, Delaware, will all shutter by Oct. 21, TOP first reported. Giant says it plans to continue fulfilling home delivery requests through a “localized fulfillment model.
Salt Lake's effective property tax rate among lowest in nation
Salt Lake City has one of the lowest effective property tax rates in the nation — a common feature of America's wealthier cities. By the numbers: The effective property tax rate for a median-valued home in Salt Lake was 0.58% in 2022 — the fifth lowest among the largest cities in all 50 states, Axios' Jennifer A. Kingson reports.
How Will Cities Deal With Falling Office Valuations?
Tax growth on commercial real estate has always been a budgetary business concern, but now the pressure has been mounting. For multifamily, it has become one of the growing operational expenses, with the top growth in a metro hitting 15.3% year over year, according to Trepp.
Demand Is There, But Labor Is Lacking': Agorus' Greg Otto At Bisnow's Orange County Event
The housing market in Southern California has always been one of the most vibrant in the country, but it is increasingly becoming more unaffordable due to high property taxes, strict building codes and heightened construction costs. Renters now make up 45% of the state's total housing market, the second-highest proportion of renters in the U.S.
Denver Office Market Should Be Able To Shrug Off A Potential WeWork Wind-Down
WeWork's recent revelation of its “substantial doubts” of its ability to stay in business sent shockwaves through the business world, with commercial real estate in particular wondering what the impact could be to local office markets.
South Florida Cities Search For Solutions To Prevent ‘Senior Exodus' Caused By New Law
Changes to Florida state law requiring condo inspections and repairs are bearing down on unit owners, hitting them with unexpected bills that some can't afford and raising fears that they will be forced to sell their homes. Local officials across South Florida are sounding the alarm about the potential for an exodus of seniors unless states and municipalities create programs to provide financial aid to condo owners on fixed incomes or modest salaries.
Former McCurtain Co. tax assessor accused of falsifying records
A former McCurtain County tax assessor's office employee is accused of trying to defraud the county by changing his own property's value. Court records show Justin McCarrell, 42, allegedly logged into the county records system and took more than $150,000 off his personal property's value, giving himself a tax break of about $700.
School board adopts Fort Worth ISD's lowest property tax rate in 16 years
Fort Worth ISD school board member Quinton Phillips was all in for a trustee-led idea to cut the district's property tax rate. Still, he had reservations about lowering the rate even further than the district first proposed. “I don't want to be naive and pay the piper later on,” he said.
Dallas Mayor Pleads With Council to Turn The Ship Around as Property Tax Ceiling is Set Wednesday
Despite pleas from Mayor Eric Johnson and District 12 Councilwoman Cara Mendelsohn, the Dallas City Council set the property tax ceiling — the highest possible rate that can be adopted — at 73.93 cents per $100 assessed valuation, as proposed by City Manager T.C. Broadnax.
Colleyville, Keller, Southlake mayors call for new Tarrant chief appraiser in joint letter
In a letter dated Aug. 24, Colleyville Mayor Bobby Lindamood, Keller Mayor Armin Mizani, and Southlake Mayor John Huffman stated that they “refuse to sit complacent while the Tarrant Appraisal District tries to justify yet another scandal.”
LOCAL NEWS Lewisville ISD puts $1.23B bond package on November ballot
One of the largest school districts in North Texas is putting $1.23 billion worth of projects on the November ballot for voters to consider. The bulk of the bond proposal will provide much-needed repairs and infrastructure improvements to Lewisville ISD school buildings, according to the district. The district serves students from Flower Mound to Frisco and Carrollton to The Colony.