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Construction Residential Real Estate Tax

Read need-to-know updates, commentary, and analysis on Construction issues written by leading professionals.

Government turns GST on its head for new property sales

by Dentons on

Proposal: Purchasers to pay GST to the ATO - The Budget measures include a radical plan to shift the responsibility of accounting for GST from property developers to purchasers. Under the proposal, purchasers must remit...more

Lancaster County 2018 Property Reassessment: Evaluating Your Preliminary Notice

by Barley Snyder on

Property owners in Lancaster County likely have received their 2018 Preliminary Property Assessment Notice, which shows the property’s preliminary 2018 reassessed value. While the notice provides answers to frequently asked...more

IRS Announces Disagreement with Ninth Circuit’s Holding on Completed Contract Method of Accounting

by Miles & Stockbridge P.C. on

The IRS recently announced its disagreement with the Ninth Circuit’s ruling that, with respect to planned communities, the 95% test under the completed contract method of accounting applies on a development-wide basis rather...more

New York's 421-a Tax Exemption for New Residential Buildings is Back

by Holland & Knight LLP on

The New York State Legislature has passed and Gov. Andrew Cuomo has signed legislation re-establishing the 421-a Tax Exemption Program after a nearly two-year hiatus. The program, which was first put in place in the early...more

New 421-a Legislation

The recently adopted state budget bill included the long-awaited revisions to the 421-a program. These amendments to the Real Property Law, dubbed the “Affordable New York Housing Program,” provide partial exemptions from...more

Baltimore’s Homeless Youth: The Cost of Eliminating the Low-Income Housing Tax Credit Market

by Miles & Stockbridge P.C. on

The Low-Income Housing Tax Credit (“LIHTC”) is one of the most important resources for creating affordable housing in the United States today. Created by the Tax Reform Act of 1986, the LIHTC program gives State and local...more

Real Estate & Construction Law Update

by Barley Snyder on

Death and Residential Leases: What Landlords Need to Know - A new state law has created a much-needed shift in the state’s landlord/tenant law for residential leases that real estate professionals need to be familiar...more

New North Carolina Sales Tax Provisions for Contracts Related to Real Property

by Nexsen Pruet, PLLC on

This alert is relevant for contractors who perform construction services on real property in the state of North Carolina. In South Carolina, contractors remain subject to the traditional sales or use tax at the time of all...more

Wisconsin Supreme Court Clarifies Required Assessment Methodology for Section 42 Housing

by Foley & Lardner LLP on

Regency West concerned the 2012 and 2013 assessments of a newly constructed 72-unit Section 42 housing development. For 2012 (the first tax year following completion of construction), the city assessed the property at...more

Reaction to Uncertainty in Affordable Housing Industry Brought on by Trump Election

The 2016 Election has created more questions than answers for the affordable housing industry. Very little is known about President-elect Trump's vision for affordable housing. On one hand, Mr. Trump has described himself as...more

West Coast Real Estate Update: November 2016 #3

by Holland & Knight LLP on

Owners, Developers Face Challenges Converting Parking to E-Commerce Delivery Space - Because millennials make up an increasing number of urban residents, owners and developers of apartment and condominium buildings are...more

San Francisco Election Results: Which Real Estate Measures Passed?

by Coblentz Patch Duffy & Bass on

Prior to the November 8 election, we reported on the long list of local propositions on the San Francisco ballot, including a number of measures impacting real estate taxes, land use and governance. The results were of...more

Construction Industry Scheme - taxing our landlords and tenants

by Reed Smith on

The Construction Industry Scheme (‘CIS’) requires contractors to withhold tax from payments to subcontractors in relation to certain construction work. It is easy to assume that CIS only applies to mainstream contractors, but...more

UPDATE: New Fee for Affordable Housing Goes to Denver City Council Sept. 19

A bill proposing a new development impact fee for a permanent affordable housing fund moved on to the Denver City Council Wednesday.Bill No. 625, proposed by Mayor Michael Hancock and Councilmembers Robin Kniech and Albus...more

Proposed Rule Changes to Florida’s Affordable Housing Allocation and Funding Process

by Carlton Fields on

The Florida Housing Finance Corporation (“Florida Housing”) has proposed changes to its rules governing the affordable housing allocation and funding process. The changes are to Rule Chapters 67-21, 67-48, and 67-60, F.A.C....more

Real Estate News in Metro DC

by Ballard Spahr LLP on

Ballard Spahr’s mixed-use, condominium, and multifamily lawyers are pleased to provide this newsletter to keep you apprised of important developments and trends in real estate law in Maryland, Virginia, and Washington, D.C....more

Remission of stamp duty on certain conveyance directions - Licensed housing developers

by Dentons on

Introduction - 1. Where a party (Vendor) enters into an agreement (Main Contract) to transfer any immovable property (Property) to another party (Initial Purchaser), and before having obtained a conveyance of the...more

Emerging Trends in Tax Credit Finance: Expansion of Renewable, Development, Housing Programs

by Stinson Leonard Street on

On December 18, 2015, the landscape improved for individuals and businesses looking to invest in affordable housing, economic development and renewable energy projects. Congress passed and the President signed into law the...more

Conservation Easements FTW! Or, Eagles 1; IRS 0

by Balch & Bingham LLP on

What’s a real estate developer to do when its pristine development site, with beautiful ocean views and room for between 164 and 410 upscale residential units that *NEED NOT BE BUILT, is clogged with wildlife, including bald...more

Gavel to Gavel: State tax credits needed

by McAfee & Taft on

Drive through any downtown in Oklahoma, and you’re bound to see one. A remnant from the community’s history, now boarded up or perhaps just not being used to its full potential. The bones are still there. You can see them,...more

West Coast Real Estate Update: Jan. 2016 #2

by Holland & Knight LLP on

California Senate Proposes $2 Billion on Housing for Homeless - California state senators put forth a proposal on Jan. 4, 2016, to spend $2 billion to build or rehabilitate permanent housing for homeless people,...more

What does the Spending Review and Autumn Statement mean for house-builders and developers?

by DLA Piper on

George Osborne’s Spending Review and Autumn Statement 2015 promises to double the housing budget from 2018/19 and focuses on support for low cost home ownership for first time buyers. We go behind the headlines to see what...more

Indiana Tax Court Nullifies Retroactive Property Tax Assessments for Lack of Proper Notice

by Faegre Baker Daniels on

On May 12, 2015, the Indiana Tax Court ruled on the property tax appeals for two residential parcels owned by Property Development Company Four, LLC (the “Company”), which in 2003 bought two parcels in Grant County upon which...more

(UK) UK Government Policy Reversal on Small Developments Affordable Housing and the Vacant Building Credit

by Reed Smith on

The recently introduced vacant building credit, and policy exemption for small developments from affordable housing contributions have been swiftly removed from national planning guidance this morning following a High Court...more

Elements of RAD discussed during the Ballard Spahr webinar

by Ballard Spahr LLP on

A number of essential points arising under HUD’s Notice PIH 2012-32, REV-2  were discussed during Ballard Spahr’s webinar, HUD’s Revised RAD Notice — What it Means for Closed and Future Projects. As a follow-up to the...more

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