Commercial Real Estate Tax

Read Commercial Real Estate Law updates, news, and legal commentary from leading lawyers and law firms:
News & Analysis as of

Ohio 2015 Election Deadlines

Pursuant to Section 3501.01 of the Ohio Revised Code, the Ohio General Assembly has established dates when elections may be held in each year. For 2015, these election dates are set forth in a chart at the end of the...more

The Economic Development Toolbox: “The Clean-Up Hitters” – Enterprise Zone and Community Reinvestment Area Property Tax Exemptions

Capital investment projects often involve tight margins, and every single dollar counts to ensure that the project is a success. For that reason, property tax exemptions are key components of any economic development...more

Mixed-Use Housing Is Exempt

A panel of a Commonwealth Court concluded that a mixed-use housing project owned by municipality was exempt from real estate tax. Reading Housing Authority v. Board of Assessment Appeals of Berks County, No. 1937 C.D. 2013...more

New UK Withholding Tax Exemption Set to Boost the UK Private Placement Market

On 4 December, George Osborne in his Autumn Statement, announced a new UK withholding tax exemption for interest payments on UK private placements. The announcement was followed by draft legislative clauses with the Finance...more

Proceed With Caution – Indiana Property Tax Appeals: Burden Of Proof Shifts For “Aberrational” Assessments; Appealing $50 Penalty...

A 5%+ assessment increase is “aberrational” where the property has not substantially changed year-to-year, so the Assessor carries the burden of proof. I have previously posted about Indiana’s adoption of a burden-shifting...more

Business Privilege Taxes Paid On Leases Refund/Appeal Filing Needed By March/April 2015

On September 19, 2014, the Pennsylvania Commonwealth Court in Fish, Hrabrick and Briskin v. Township of Lower Merion, No. 1940 C.D. 2013, held that lease receipts are not taxable under local business privilege tax ordinances....more

Autumn Statement 2014

Yesterday, the Chancellor of the Exchequer delivered the UK 2014 Autumn Statement. Below we summarise some of the main announcements: Taxation of multi-nationals - Diverted profits tax (aka the "Google tax")...more

House Approves Energy Tax Extenders

Last week, the U.S. House of Representatives (House) overwhelming approved a $42 billion tax extenders bill. The bill, H.R. 5771, includes extensions of nearly $10 billion in energy tax incentives through the end of 2014. ...more

PA Tax Law News - December 2014

In This Issue: - Recent PA Sales Tax Guidance Concerning Natural Gas and Other Mining Activities - Focus on Pennsylvania Corporate Taxes - Application and Sale of Restricted Tax Credits -...more

High Court Affirms Theater, Church’s Entitlement to State’s “Mandatory” Property Tax Exemption

The Court of Appeals, New York’s highest court, recently published decisions in the Maetreum of Cybele v. McCoy and Merry-Go-Round Playhouse, Inc. v. Auburn cases. In these decisions, the Court affirmed that the exemptions...more

PTAB Issues Decision in Long-Running Open Space Assessment Battle

The Illinois Property Tax Appeal Board (PTAB) recently issued a decision finding that the clubhouse, parking lot, swimming pool, and tennis courts at a golf club are not entitled to favorable treatment as open space. The...more

New Markets Tax Credits for Real Estate Development

The new markets tax credit (‘‘NMTC’’) was added to the Internal Revenue Code as §45D2 by the Community Renewal Tax Relief Act of 2000.3 Initially the program was to provide allocations of the tax credit through 2007, but has...more

The Secret Is Out: The Documentary Transfer Tax Will Now Be Part of Public Record

The Documentary Transfer Tax Act allows each county and city to impose a tax on each deed, instrument, or writing by which any real estate is sold within the county at the time the document is recorded. Assembly Bill No....more

Pennsylvania Department of Revenue Clarifies Changes to New Realty Transfer Tax Law

The Pennsylvania Department of Revenue recently released an Information Notice explaining the implications of Act 52 of 2013, which enacted some significant changes to the Pennsylvania realty transfer tax, effective January...more

Governor Brown Signs into Law AB 229 and SB 628, Giving New Life to Tax Increment Financing

In late September, Governor Brown signed into law AB 229 and SB 628, which are intended to finance public capital facilities or other specified projects of communitywide significance previously financed by redevelopment...more

IRS Rules That Some Basis in Solar System Must Be Allocated to Structural Functions

On October 31, the IRS released Private Letter Ruling 201444025, which was addressed to a manufacturer of solar systems that are mounted on real estate. The nature of the real estate, along with many other interesting facts,...more

Documentary Transfer Tax May Be Imposed When A Change of Ownership Occurs For Property Tax Purposes Due To A Transfer Of Ownership...

The Revenue and Taxation Code permits the imposition of a documentary transfer tax when there is "realty sold." The Code also requires entities to report a "change in ownership" of legal entities. In 926 North Ardmore...more

Going Multijurisdictional - Laying the groundwork for shared business parks

It is a basic, universally accepted fact that in order for an area to win new recruitment projects—and in some cases retain expansions of an existing company facility that will be on a site other than its current...more

Pa. Department of Revenue Delivers Good News and Bad News Regarding New Realty Transfer Tax Provisions

The Pennsylvania Department of Revenue (DOR) recently issued Information Notice - Realty Transfer Tax 2014-01 (the Information Notice) delivering some good news and bad news about how the new law that became effective January...more

California Seeks to Clarify Standards of Review for Hotel Property Tax Assessment Appeals

Hotels are one of the most misunderstood properties when valued by local assessors for property tax purposes. A hotel’s enterprise activity is comprised of tangible property, in the form of real estate and personal property,...more

Land and Buildings Transaction Tax: Residential and non-residential property

The Land and Buildings Transaction Tax ("LBTT") will replace Stamp Duty Land Tax ("SDLT") in Scotland on 1 April 2015. LBTT is being introduced under the Land and Buildings Transaction (Scotland) Act 2013 ("the 2013 Act"),...more

Recent Decision on Imposing a Business Privilege Tax

The Commonwealth Court has rendered a significant decision regarding ability of municipalities to impose a business privilege tax on the gross receipts generated by real estate leases. The Pennsylvania Commonwealth Court, in...more

Following FASB: Leases, Revenue Recognition Proposals On the Horizon

There are two proposals making their way through FASB that will have far-reaching implications for most financial statements—including those of private companies. Even though neither of these proposals has been finalized,...more

Southeast State & Local Tax: Important Developments - September/October 2014

The Williams Mullen Southeast State and Local Tax (SESALT) team is pleased to provide you with a comprehensive recap of important tax developments around the Southeast. VIRGINIA - INDIVIDUAL INCOME TAX...more

Arms’ Length Sale of Contaminated Property is Best Indicator of Value for Tax Appeal Purposes

In a recent Appellate Division decision (Orient Way Corp. v. Tp. of Lyndhurst), the Tax Court’s prior determination that an arms’ length sale of the subject contaminated property provided credible evidence of true market...more

580 Results
|
View per page
Page: of 24

Follow Commercial Real Estate Updates on: