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Pending Appeal in Michigan Supreme Court May Warrant Filing a Protective Property Tax Appeal This Year

On February 1, 2017, the Michigan Supreme Court ruled that it would hear oral arguments on the application for leave to appeal in Menard. One of the issues to be considered is “whether the Michigan Tax Tribunal may utilize a...more

Tax Lien Foreclosure – Rights of Mortgage Holders and Unassessed Owners

Experienced tax collectors and treasurers know that mortgage holders and unassessed owners of record have the right to receive copies of certain notices during the tax lien foreclosure process. But what are these entities’...more

Properly structured foreign gifts of real property property can be estate and gift tax free

The investment in U.S. real property by Non-residents can be structured to minimize estate and gift taxes. The key is to structure the investment through a limited liability company, limited partnership or corporation so...more

“PACE” for Residential and Commercial Renewable Energy Projects – What is it?

“PACE” – Is it the new buzzword? Lately, it seems I keep hearing about securitizations backed by PACE financings. What is a PACE financing program, and what is happening in the securitization market?...more

State and Federal Tax Law Developments Affect Same-Sex Couples and MA Residents with Out-of-State Real Estate

Recent changes in state and federal tax laws impact same-sex couples and any Massachusetts residents who own real estate in another state. Clients who may be affected by these changes should act soon to protect the...more

Lancaster County property owners, reassessment is coming!

After more than a decade, the Lancaster County Property Assessment Office reassessment of property values will begin this year and become effective January 1, 2018. The purpose of the reassessment is to align all property...more

The Property Tax Appeal Process: It’s That Time Again...

Here we go again! It's that time that all Guilford County real property owners invariably look forward to [Insert Sarcasm]. Yes, it’s a Revaluation Year in Guilford County. Property owners should be on the lookout: assessment...more

When A “Tax Free” Exchange May Not Be Free of Tax

“Tax free” – two words that often bring great delight when they are spoken by a tax adviser to the owner of a business, whether he is considering the disposition of a single asset, or of substantially all of the assets, of...more

Toronto Municipal Land Transfer Tax Increase

The City of Toronto has increased its municipal land transfer tax rates to match the recent changes to provincial land transfer taxes, effective March 1, 2017....more

Tax Reform Considerations for REITs

Various components of the tax reform proposals that have been put forth by the Congress as well as the President could have significant impacts on REITs. In 2016, the Republican leadership and Republicans on the House...more

Supreme Court of California Set to Decide Documentary Transfer Tax Case

The Supreme Court of California is slated to review a 2014 decision by the California Court of Appeal for the Second District, which held in 926 North Ardmore Avenue, LLC v. County of Los Angeles that a change in ownership of...more

Property Tax Exemption Application Deadline Approaches

March 1st is the deadline for filing all property tax exemption applications in the state of Florida. No matter in which of the 67 Florida counties you own property, please be certain that any property tax exemptions you may...more

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

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

Land tax win for property developers, primary production

In a ground breaking win for property developers, a recent NSW Court of Appeal decision found that land held for future development but used for grazing, can be exempt from land tax....more

Gatlinburg Property Owners Affected by Wildfires May See Tax Relief

Property owners affected by the Gatlinburg fires last fall could receive tax relief – thanks to a bill approved by the Senate State & Local Government Committee this week....more

IRS Issues Final Regulations on REIT and RIC Conversion Transactions

The U.S. Treasury Department and the Internal Revenue Service published on January 18, 2017 final regulations (the “Final Regulations”) reducing from ten years to five years the recognition period for the corporate-level tax...more

MoFo New York Tax Insights - Volume 8, Issue 2

Governor Cuomo Releases 2017-18 New York State Executive Budget - New York State Governor Andrew M. Cuomo released his 2017-2018 Executive Budget, containing an assortment of potentially important tax proposals,...more

Michigan’s 2017 property tax assessment notices are in the mail. Should you appeal?

Local assessors are in the process of sending annual notices of real and personal property tax assessments to property owners/taxpayers, who must determine whether the assessments are correct and whether an appeal should be...more

Michigan Tax News - January 2017

Michigan’s 2017 property tax assessment notices are in the mail. Should you appeal? Local assessors are in the process of sending annual notices of real and personal property tax assessments to property owners/taxpayers,...more

Real Property Tax Alert - October 2016

Nassau County Class 4 Commercial Property – Disputed Assessment Fund (“DAF”) Started with October 2016 School Bill - All Class 4 commercial properties have been impacted by the increase in the school tax rate...more

Impact of Tax Reform Proposals on REITs and Real Estate

This alert focuses on various tax reform proposals and their potential impact on REITs and the real estate industry. Tax reform is high on the agendas of both the House Ways and Means Committee and the Trump administration....more

The Basics of 1031 Exchanges – Part Two: Structuring Partnership/LLC 1031 Exchange Cash-out Transactions

This is part two of a two-part series on Internal Revenue Code Section 1031 tax-deferred exchange transactions. The first article provided an overview of the basic rules that govern 1031 exchanges. This article describes...more

(US) There Are Two New York Real Estate Transfer Tax Proposals to Watch in Governor Cuomo’s Proposed Budget

New York Governor Andrew Cuomo introduced his FY 2018 budget proposal on January 17. The proposal includes several significant revenue-raisers, including a few that could impact the New York real estate market....more

Challenging New York City Real Property Taxes: Tentative Assessments and Initiation of the Tax Cert Process

New York City faces a continuing decline in state and federal funding and increased property taxes continue to be a reliable revenue stream to fund local services. Every January 15th, the NYC Department of Finance (DOF) sends...more

Amendments to Alberta's Municipal Government Act Likely to Reduce Time and Cost of Property Tax Review Process

As of January 1, 2017, amendments to the Municipal Government Act, R.S.A. 2000 c. M 26 (MGA), came into force, changing how property owners can seek court review of Assessment Review Board decisions in Alberta....more

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