Rising Seas Are Going to Create a Huge Property Tax Headache for Coastal Communities
People are becoming increasingly worried about how they'll be impacted when rising seas swallow up coastal properties. For starters, there are the homeowners who live on the threatened land. And then there are the mortgage lenders and home insurers who have a financial stake in those properties.
As housing market cools, homebuyers regain leverage
Years of soaring home prices and sharply higher mortgage rates remain hurdles for many would-be homebuyers, but new data shows that they're regaining some leverage at the negotiating table as the housing market slows.
San Francisco Braces for Epic Commercial Real Estate Crash
The root of this—of course—is the pandemic and the way that it has completely transformed work patterns in the city, hollowing out a downtown core that once accounted for most of San Francisco's GDP, 70% of its sales tax revenue and 40% of the city's jobs.
Century's Approval Of 151% Property Tax Increase Delayed By Absent Councilman
The Town of Century's attempt to tentatively approve a budget and property tax increase were stalled Thursday night after one council member was a no show. The town is proposing a property tax rate that is 151.68% increase over what's known as the rolled back rate. A millage rate higher than the rolled-back rate is defined by the State of Florida as a tax increase.
Side-by-side property tax bills for Tampa Bay neighbors show large disparities
Tampa Bay Times
Florida's Save Our Homes amendment requires property to be reappraised at market value when it is sold. And it caps how much a home's value increases each year for the purpose of calculating the property tax bill to no more than 3 percent.
Board of Review's probe into bribes for tax breaks is stymied by employee's ‘inability to recall passcode' to county-issued cellphone
An employee of the Cook County Board of Review under investigation for allegedly accepting bribes to lower property taxes stymied a law firm hired to look into the matter by refusing to be interviewed and claiming he forgot the passcode to his county-issued cellphone.
15 years without changing tax rate is part of the story
A local government maintaining the same tax rate for 15 years is a significant achievement. First reading was held Tuesday by Elizabethtown City Council on its ad valorem tax of 11.6 cents on each $100 of assessed value for real estate and tangible property. Residents who look closely at their tax statements will know that's the same rate used for a decade and a half.
NYC is teetering on the edge of fiscal cliffs
New York Daily News
Cheerleading by Mayor Adams and CEOs for New Yorkers to return to their offices as COVID-19 ebbs says a lot about the serious risks to the city's $101 billion budget if their calls to get workers out of their sweatpants and off Zoom fall on deaf ears.
Gregg Appraisal District leader retiring
Libby Neely, who has been chief appraiser for the Gregg Appraisal District since 2017, reflected on those key steps when it comes to working with the public in what can be a challenging job — setting property values that are then used to help determine tax bills for people's homes and businesses.
Texas lawmakers consider corporate property tax cut provision
A Texas economic incentive is set to sunset at the end of the year, but Texas lawmakers say they are open to its revival. During a Texas House Ways and Means committee meeting Thursday, state elected officials expressed concern that allowing the law to sunset would hamper economic development and the state's competitive edge when it comes to attracting large corporations.
Texas House considers reviving corporate property tax cuts
Worth about $2.4 billion in 2012, by 2020 Chapter 313 tax breaks had soared to $10.8 billion. Some projects have since expired or been canceled, but the comptroller's office has also signed off on...
Governor sides with counties on opposing property tax amendment
Gov. Jim Justice took another step in publicly opposing a constitutional amendment that would allow legislators to change property tax rates, saying that would be a risk for local governments in tough economic times.
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