Commercial Real Estate Zoning, Planning & Land Use Tax

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Changes in Real Estate legislation, Q2 2015 - Overview of the most important changes for the second quarter of 2015 in Russian...

Changes at the federal level - RF Federal Law ? 184-FZ “On Amendments to the RF Federal Law “On the State Real Estate Cadaster” and Article 6 of the RF Federal Law “On Special Economic Zones (SEZ) in the Russian...more

Spot Assessment Stricken

A divided panel of The Commonwealth Court of Pennsylvania held that a reassessment of property upon the expiration of a KOZ abatement was an unlawful spot assessment. Duke Energy Fayette II, LLC v. Fayette County Board of...more

Another REIT Ruling by the IRS – This Time, Billboards

The IRS has released yet another private letter ruling (Letter 201522002) in the REIT area. This time, the IRS addressed the REIT treatment of income from the rental of outdoor advertising space (i.e., billboards). At issue...more

The Essential Guide to UK Real Estate

This Essential Guide provides an overview of the legal and regulatory issues likely to affect developers, occupiers and investors in UK real estate. Real estate - Real estate law in England and Wales can trace...more

Anti-Urban Renewal Bill Progresses; Pro-Urban Renewal Bill Amended

The General Assembly will adjourn in roughly two weeks. The fate of two important urban renewal bills—one with a positive impact on urban renewal and one with a negative impact—will be decided during this time. If urban...more

Philadelphia Eliminates Tax-Exempt Recertification Requirement

Owners of tax-exempt property in the City of Philadelphia no longer need to worry about submitting recertification forms regarding the continued use of their property. On April 7, 2015, Mayor Michael Nutter signed Bill...more

Locke Lord QuickStudy: The New York Legislature Ends The Guessing - Brownfield Tax Credits Extended And Modified

On April 1, 2015, the New York Legislature passed a budget bill for fiscal year 2015-2016, which included numerous amendments (the Amendments) to the Brownfield Cleanup Program (BCP), a state program designed to incentivize...more

N.C. State Senate Introduces Bill Granting Tax Credit for "Property" Serving Renewable Energy Efforts

Last week, the North Carolina State Senate introduced a bill that seeks to extend renewable-energy tax credits applicable to eligible property -- which is defined as specific "machinery and equipment or real property" -- that...more

Philadelphia Reduces Requirements for Certifications for Continued Real Estate Tax Exemptions

The Philadelphia Office of Property Assessment (OPA) recently mailed notices to each owner of property listed as tax exempt on the OPA’s records indicating that the owner must file a form to certify that the property...more

OPA Makes It Easier for Tax-Exempt Owners of Real Property To Recertify Tax Exemptions

The Office of Property Assessment (OPA) has simplified the process for owners of tax-exempt real estate in Philadelphia to recertify that their properties are, in fact, tax-exempt. The OPA's original notices to property...more

Philadelphia Nonprofit Property Owners Must Submit Forms by March 31 to Maintain Tax Exemption

Nonprofit organization owners of tax-exempt real estate located in Philadelphia have been receiving letters from the Philadelphia Office of Property Assessment (OPA) concerning forms they must file to enable their properties...more

Can Public Parking Garages Be Tax Exempt In New York? The Second Department Says “Yes”

In the recent decision in Matter of Greater Jamaica Dev. Corp. v. New York City Tax Commn., 111A.D.3d 937, 975 N.Y.S.2d 749 (2d Dep’t 2013), the Appellate Division, Second Department held that five public parking garages...more

Owners of Tax-Exempt Property in Philadelphia Must Provide Proof of Right to Continued Tax-Exempt Status

The Philadelphia Office of Property Assessment (OPA) has sent letters to all charitable organizations in the city that own property shown as tax-exempt, in whole or in part, in the OPA’s records. Attached to the letter is a...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

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

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

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

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

Cook County adopts new Class 7C property tax incentive: key points for commercial developers

The Cook County Board of Commissioners has adopted a new commercial real estate tax incentive known as the Class 7c Commercial Urban Relief Eligibility incentive aiming to encourage real estate development in the Chicago...more

Indiana Property Tax Exemptions: Church Permitted To File Letter In Lieu Of Application; Trade Association Failed To Prove Split...

Church properly used letter of notification (and not official application) to claim exemption; previously granted exemption rolled forward. The Indiana Board of Tax Review applied a 100% property tax exemption to a church...more

How to Land Projects in California

Until recently, California’s state-level economic development cupboard was looking a little bare — its 400 redevelopment agencies were dissolved in February 2012, property tax increment financing has been discontinued and...more

Tax credit increases what’s available for historic renovation

In May, Colorado Gov. John Hickenlooper signed into law the Colorado Job Creation and Main Street Revitalization Act (also known as House Bill 14-1311). By substantially increasing the amount of funds available for the...more

Proposed House Bill would Create Appeals Process for Qualified Census Tract and Difficult Development Areas

On July 24, 2014, Rep. Pete Gallego (D-Texas) introduced legislation in the House of Representatives that would amend Section 42 of the Internal Revenue Code to provide for an appeals process for HUD Qualified Census Tract...more

Native American Business Law Alert: Significant Tax and Applicable Law Ambiguity in Proposed Revisions for Indian Lands...

The Bureau of Indian Affairs (BIA) is proposing to revise the process for obtaining and administering rights-of-way (ROWs) on Indian lands. While the proposed regulations seek to make improvements and clarifications...more

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