NATIONAL

Farmland values march higher despite recent headwinds
farmweeknow.com
Farmland remains a hot commodity based on recent industry reports. But pressure on the market continues to grow due in part to higher interest rates, the possibility of lower farm returns, and the overall threat of a national recession. The Federal Reserve Bank of Chicago reported farmland values in its district increased 22% in the second quarter of 2022 compared to the same time last year.

ALABAMA

Gadsden property tax millage to leave school system $1 million short
The Gadsden Times
The most recent financial reports for the Gadsden City school system didn't paint a pretty picture. The system's tax millage revenue is down by $1 million from what was collected last year, and system Financial Officer Cory Skelton said there's no expectation that $1 million in property tax revenue will come in before the end of the fiscal year.

GEORGIA

Lockheed Martin to receive up to $77 million in tax breaks through 2048
The Atlanta Journal Constitution 
Lockheed Martin requested tax breaks in July to make the company a competitive bidder for future federal defense contracts, company leaders said. They expect to spend up to $1.6 billion on expansion projects dependent on winning bids, and estimate between 500 and 3,000 new jobs could come to Cobb County if they win the federal contracts.

MISSOURI

Former St. Louis alderman admits taking cash, car, phone as bribes
Department of Justice
A former St. Louis alderman pleaded guilty Tuesday to all charges against him and admitted taking bribes in the form of a series of cash payments, a car, a phone and campaign contributions to help a local business owner get a property tax abatement.

TEXAS

DCAD budget headed for veto as county judge, commissioners sound off yet again
dentonrc.com
In what Denton County commissioners called "a sad day" for the county, the Denton Central Appraisal District's 2023 budget will almost certainly be voided through disapproval resolutions, with 30 of...

VIRGINIA

Montgomery County working to avoid personal property tax hike
WDBJ
The Montgomery County Board of Supervisors is discussing plans to ease residents' personal property taxes this year. Car values have drastically increased due to inflation. To prevent residents from paying more in taxes, the board is pushing to only tax on 80% of market value instead of 100%. The county believes an 80% assessment ratio would create a more fair market value for vehicles.