The Owners of Iconic SF Buildings Are Looking to Slash Their Property Values
The owners of San Francisco's most iconic buildings are looking to cut their property assessments, a worrying sign of a potential collapse in property values that could handcuff the city by eroding its number one source of tax revenue.
Colorado Supreme Court Rules in Favor of the Lodge at Vail on the Exclusion of Rental Management Contribution in the Income Approach
A common financing structure for resort hotels in Colorado and other parts of the U.S. is for the developer to sell part or all of the development to individuals for fee simple ownership. Under some circumstances, individual owners may opt to retain the management services of the hotel, or a third-party management company, for rental of their condominium.
Analyst warns Illinois law could bring higher property tax rates thanks to record inflation
For the first time in 30 years, an analyst warns local governments in Illinois can raise their property taxes to cover losses due to inflation. Local governments can seek a maximum 5% increase. In 1991, Illinois instituted a property tax cap that limits governments' ability to raise property taxes by more than 5% or whatever the inflation rate was at that time.
Chicago's High Property Taxes Pay for Squeezed Retiree Benefits
Chicago may finally be on a path to adequately funding its four city employee pensions -- but getting there is likely to come at the expense of homeowners who already pay some of the highest property tax rates in the nation.
Hotel proposed for Westhampton Beach wins $690,512 in tax breaks over 10 years
In an unanimous vote last week, the county's Industrial Development Agency gave final approval for the tax aid to Melville-based developer WHBH Real Estate LLC in return for its investment of $11.6 million in the property and pledge to create about 14 jobs over two years.
Shocking News: Dillon introduces Property Tax Circuit Breaker
Pennsylvania Senate Democrats
State Sen. Jimmy Dillon (D-Philadelphia) today introduced Senate Bill 1342, companion legislation to Rep. Robert Freeman's HB 1851, which would amend the Pennsylvania Constitution to create a property tax circuit breaker.
Property assessor still fighting Knox Energy lawsuit
Morgan County Property Assessor Biff Wilson has found himself embroiled in a lengthy lawsuit with Knox Energy in a property debate that has been ongoing since 2014, and this past Monday at the Morgan County Commission meeting, he made the details of his case known to the commission and asked for their help in upcoming attorney fees for his department in the fourth round of appeals in the lawsuit case.
After chief appraiser's ousting, do officials see improvement on the horizon for DCAD?
For months — if not years — there's been a clear consensus among elected officials: The Denton Central Appraisal District isn't getting the job done. But now that the district has moved on from heavily criticized Chief Appraiser Hope McClure, do county leaders see the situation improving?
Texas Chapter 313 incentives to soon end — what companies are still waiting on requests?
Austin Business Journal
As the sun sets on Texas' Chapter 313 incentives program, which offers breaks on school property taxes, hundreds of applications are still pending with the comptroller. "We will not be able to review all applications by the end of the year," one state official said. What does that mean for the companies that have applied ahead of the deadline?
Rockwall City Council adopts lowest property tax rate ever in City's recorded history
Blue Ribbon News
At their meeting Monday night, September 19, the Rockwall City Council voted to adopt a rate below the no new revenue tax rate which continues a nine-year trend to decrease the tax rate for Rockwall residents. The approved tax rate is the lowest rate ever adopted in Rockwall's recorded history—and is 5.75 cents less than the rate last year.
Humble ISD's tax rate is the lowest in decades, but taxpayers may still have higher bills
Humble ISD trustees approved a 4.6 cent property tax rate reduction for 2022 at their September board meeting, bringing the district's new rate to $1.S.2929 per $100 valuation. But the decades low rate won't necessarily mean a smaller tax bill for taxpayers. J. Four years ago, the tax rate was $1.
‘Our challenge as a city is to protect residents from higher tax bills': Council members propose cut to real estate tax
Due to a rise in property value, Richmond homeowners should plan to see a 13% increase in their 2023 tax bills. The rise in values has caused two council members to propose a real estate tax cut, while another suggested it should stay the same.
Green Bay homeowners shocked by new tax assessments
Some Green Bay property owners may be shocked and frustrated after receiving their assessments in the mail over the weekend. It comes at a time with high inflation and high natural gas prices. Green Bay Alder Jesse Brunette of district 12 says he's gone door-to-door meeting with constituents after several commented on a Facebook post where he criticized the new values.