FLORIDA

Mayor Jane Castor proposes Tampa's first property tax rate hike in 30 years
Axios Tampa Bay
Mayor Jane Castor proposed a 16% property tax rate increase for Tampa homeowners as part of the $1.92 billion budget she unveiled last week. Why it matters:This is the city's first property tax rate increase in three decades. Castor said it would bolster Tampa's revenue and help tackle housing, public transportation and public safety concerns.

ILLINOIS

Appeals panel says Champaign hospital entitled to property tax exemptions, refund
Cook County Record
A Champaign hospital at the center of a long-running state court legal battle over whether hospitals should qualify for charitable tax exemptions has prevailed in its own direct struggle with Champaign County's attempts to undo its property tax exemptions.

Up 40% or down 40%, Chicago property taxes all over the map
Illinois Policy
More than 30 Chicago neighborhoods saw their total tax burden increase by at least 10%, just from 2020 to 2021. The most extreme was the Lower West Side neighborhood, where total taxes went up 44.7%. The tax burden in these areas is becoming increasingly unbearable.

MASSACHUSETTS

Mass. Lawmaker Seeks Rent Control Ballot Measure As Wu's Plan Stalls In State House
BisNow
As Mayor Michelle Wu's rent control proposal has failed to move forward on Beacon Hill, a state representative has filed a petition to put the issue to Massachusetts voters. Rep. Mike Connolly, who represents Cambridge and said he was acting in his personal capacity as a renter, filed a ballot measure petition before the Wednesday night deadline to lift the state rent control ban passed in 1994.

MISSOURI

KMBC 9 investigates digs into property assessment discrepancies
KMBC
Thousands of Jackson County, Missouri residents have experienced increased property assessments, with some homeowners seeing a staggering 100% to 200% increase. The discrepancies in property assessments between homes in Jackson County have people furious, especially when it comes to public figures.

OREGON

30-story tower proposed in downtown Portland
KGW
A developer is proposing a 30-story affordable housing tower on the Burnside Bridge's west side. The developer, Curtis Rystadt, is still in the very early stages, so he doesn't have money squared away. And he's meeting with the city on Aug. 24 to discuss his plans further.

TEXAS

Durst Sues To Block A Bank Of America Sublease At Bank Of America Tower
BisNow
The complaint, lodged in New York County Supreme Court, stems from Akin Gump's plan to sublease to Bank of America one of its floors in the building, where the two companies combine to lease nearly 2M SF. Durst claims the agreement violates the terms of both their leases.

Office-to-Multifamily Conversions Reshape Downtown Dallas
CoStar
Several significant office-to-multifamily conversions are helping to reshape downtown Dallas as investors look to capitalize on demand from a growing residential base while the future of office space remains in flux. Of the 1,234 units underway through mid-2023, 90% are from existing office spaces that are being redeveloped into apartments.

Plano's office vacancy 4% higher than DFW
The Real Deal
Plano's office vacancy rate is head and shoulders above Dallas-Fort Worth's. With about 10 million square feet of available office space, the north Dallas suburb has a vacancy rate of 22.5 percent, compared to 18 percent in DFW, the Dallas Morning News reported.

VIRGINIA

Affordable Housing Converted From Office Planned Near Mosaic District
Patch
Last week, the Fairfax County Board of Supervisors approved up to $8 million of the county's American Rescue Plan Act funds for 2990 Telestar Court, Falls Church, VA. The location, which was home to an Inova office building, will be acquired from Inova Health Care Services with the funds to help develop 80 affordable housing units.