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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

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

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

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

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

High Court Hears A Pair of RPTL § 420-a Cases on October 2014

We’re starting off our new blog season after a bit of a break with a recap of two key exemption cases that will be making waves again soon. Specifically, on October 21, 2014 the New York Court of Appeals heard oral arguments...more

Gov. Cuomo Signs Law Extending Real Property Tax Abatement for Solar Power Installation

Governor Cuomo has signed into law a bill that extends real property tax breaks for installing electricity-generating solar panels on New York City buildings effective September 23, 2014. ...more

Proposed Amendment to California's Property Tax Rules – Attempting to Close a Commercial Real Estate Loophole

Proposition 13 generally limits taxes on real property to one percent of the full cash value of that property. “Full cash value” is defined as the assessor's valuation of the property tax bill, which typically is based upon...more

Virginia Tax Department Changes Conservation Easement Tax Credit Procedures

The Virginia Department of Taxation (“Tax”) is modifying its procedures for issuing land preservation tax credits and is trying to improve its customer service. At a meeting hosted by Molly Ward, Virginia Secretary of...more

Cook County Assessed Values Continue to Decline

For the sixth year in a row we have obtained and analyzed assessment abstract data from the Cook County Assessor’s Office. In each tax year since 2008 the County’s total assessed value has declined. The data from 2013, the...more

Indiana Property Tax Rulings: Charitable Purpose Exemption For Rented Home And Duplex; Taxpayers Prevail With USPAP Appraisal,...

The following summaries of final determinations by the Indiana Board of Tax Review from the first half of 2014 were prepared by Noeli E. Serna, a 2014 summer associate at Faegre Baker Daniels who will be entering her second...more

Get to Know a NMTC Housing Deal

Welcome back to the latest installment of “Get to Know a NMTC Housing Deal,” where we find ourselves in Baltimore, Maryland featuring the efforts of a local and national cast of participants to rehabilitate nearly 90 acres in...more

Spotlight on Tennessee: 2014 Tax and Related Legislation

During the 108th General Assembly 2014 Session, the Tennessee Legislature considered several tax and related initiatives before adjourning in late April. Although the number of proposed tax and related initiatives this...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

Insight on Estate Planning - August/September 2014

In This Issue: - Unintended consequences: After divorce, review your estate plan to avoid surprises - Protecting your real estate assets - How will the GST tax affect your estate plan? - Estate...more

GST and rental guarantees - A new ATO Determination (Australia)

The Australian Taxation Office (ATO) has today issued a new GST determination, GSTD 2014/3, relating to GST and rental guarantee arrangements. The new Determination replaces an earlier draft which had been released in April...more

An Assessor Must Consider A Claim For Prospective Property Tax Relief Involving Condemned Property Even If The Owner Files The...

In Olive Lane Industrial Park, LLC v. County of San Diego (July 18, 2014, D063337) -- Cal.App.4th --, the Court of Appeal considered whether the owner of property acquired by eminent domain could attain prospective property...more

Time Limit to Transfer Base Year Property Tax Value Expanded for Eminent Domain Takings

Californians who have owned their properties for years understand the benefits of Proposition 13: their property taxes are based upon the property's purchase price (with only small allowable annual increases), as opposed to...more

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