Tax Commercial Real Estate

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Solar Industry Update: Clearing the Path for More Solar in the Sunshine State

In yesterday’s primary election, Florida voters approved Amendment 4, granting the Florida Legislature’s request for authority to exempt the value of solar improvements from commercial property taxes....more

IRS Publishes New Management Contract Safe Harbors for Property Financed with Tax-Exempt Bonds

On August 22, 2016, the Internal Revenue Service (IRS) released Rev. Proc. 2016-44, which provides new guidance on the treatment of “management contracts” for purposes of the restrictions on use of property financed with...more

Client Alert: New Safe Harbors for Management Contracts of Tax-Exempt Financed Facilities

The Internal Revenue Service on August 22, 2016 released Revenue Procedure 2016-44 which revises the safe harbor guidelines for management contracts of service providers for tax-exempt financed facilities, under which the...more

2015 Cook County Assessments Show First Upturn in Seven Years

For the first time in seven years, the trend line for assessed value in Cook County is pointing up. Beginning with the 2008 assessment year when we began tracking this data, assessed values have steadily, sometimes...more

Solar Industry Update:  What’s on the Back of My Ballot? What Amendment 4 Is All About

If you vote by mail, then you’ve likely already received your August 30 primary ballot with a proposed amendment to the Florida constitution on the back. It is Amendment 4, and it is the only amendment on the primary ballot....more

Calif. Firms Struggle To Find Exchange Properties Amid Boom

Bob Baradaran was quoted in an August 10, 2016, article by Law360 reporter Andrew McIntyre about the real estate boom in California (subs. req.) and the impact that boom is having on 1031 like-kind exchanges commonly used to...more

Development of practice on treating of facilities as immovable property for the purpose of imposing corporate property tax

On 12 July 2016 the Commercial Court of Moscow rendered a decision in case No. ?40-98958/16-108-827. This case considered a dispute between ORSKNEFTEORGSINTEZ OJSC (the “Company”) and Federal Tax Service Interregional...more

(US) Give Me Some (Tax) Credit

The Texas Historic Preservation Tax Credit (THPTC) is a little known incentive program established through Texas House Bill 500 during the 83rd Texas Legislative Session. With the goal of making historic preservation projects...more

Use of Shell Companies To Shield Identity Further Limited

On July 27, 2016 the Financial Crimes Enforcement Network, (FinCEN) of the Department of the Treasury issued expanded Geographic Targeting Orders (GTO) that will...more

BC imposes additional 15% tax on foreigners effective August 2, 2016

On July 28, 2016, the BC Government passed legislation to implement changes to the Property Transfer Tax Act. These changes will apply an additional 15% tax on purchases by foreigners of residential property in the Greater...more

IRS Issues Proposed Rules on Income Inclusion under Section 50(d)(5)

The IRS just published long-awaited temporary regulations under section 1.50-1T governing the section 50(d)(5) income inclusion rules. These rules apply to lessees of investment credit property when the lessor elects to treat...more

Property Tax and Valuation Topics: Summer 2016

Interim “Watch Tower” Revaluation After High Sale Upheld - The last citywide revaluation conducted by Milford was as of October 1, 2011. On that date, the residential property at 19 Beach Avenue was valued by the...more

IRS Releases Temporary and Proposed Regulations Under IRC Section 50(d)(5)

On July 21, 2016, the IRS released temporary regulations section 1.50-1T under IRC Section 50(d)(5) of the Internal Revenue Code (the "Temporary Regulations") (TD 9776) that provide guidance regarding: (1) the income...more

The Economic Development Toolbox: Downtown Redevelopment Districts Provide Additional Economic Development Tools for Ohio...

On May 6, 2016, Governor Kasich signed Am. Sub. House Bill 233 (“H.B. 233”) authorizing Ohio municipalities to create Downtown Redevelopment Districts (“DRDs”) to encourage the rehabilitation of historic buildings and...more

The Tide Rises Waterfront Development in Pennsylvania

Pennsylvania organizations hoping to increase development of public amenities and parks along Pennsylvania’s waterfronts may soon benefit from the new “Waterfront Development Tax Credit” enacted as part of Act 84, and signed...more

Real Estate News in Metro DC

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

Does filing a lawsuit challenging property taxes get you out of paying them while the suit is pending?

With proposed property tax assessments being mailed next month (and final bills being mailed in November), it’s almost the time of year where property owners think about challenging their assessments. Taxpayers must remember...more

South Carolina Property Tax Incentives: The Special Source Revenue Credit

While South Carolina has low income taxes, and comparatively low sales taxes as well, the state makes up for this by having some of the highest business property tax rates in the Southeast. These property taxes are generally...more

New Hampshire Enacts Business-Friendly Tax Changes

Three business-friendly tax bills have become law in New Hampshire. Each bill will result in tax reductions for those able to take advantage of them. The New Hampshire Business Profits Tax generally “piggybacks” on the...more

What You Need to Know About Hospitality REITs

In February 2016, Hilton Worldwide announced its plans to spin off the bulk of its hotel real estate into a publicly traded real estate investment trust (REIT) to be owned by its shareholders by the end of the year. The...more

Treasury Expands Scope of REIT Spin-Off Rules in New Regulations

On June 7, the Treasury Department released temporary regulations (the “Temporary Regulations”) that expand the types of spinoff transactions subject to the rules under Section 337(d)2 requiring gain recognition where either...more

My “Flippín” House?

Tax Strategies to Reduce Taxation and Build Wealth for House Flippers - Overview - I seem to be perpetually out to lunch. When I step on the scale too, this point is further confirmed. I do not know why I have...more

IRS Issues Temporary and Proposed Regulations Focused on REIT/RIC Conversion Transactions

The regulations affect both real estate investment trusts (REITs) and regulated investment companies (RICs) that receive appreciated property from a C corporation in a so-called “conversion transaction.”...more

My marina has to pay property taxes but yours doesn’t?

Does a marina serve a public purpose? Does it matter if the marina is owned by a city or a private business owner? The Fourth District Court of Appeal offered its thoughts on this issue a couple of weeks ago in City of Ft....more

Perspectives - June 2016

In April 2016, the Department of Labor (DOL) released the final version of the fiduciary rule. The final rule was six years in the making and impacts retirement plans, including 401(k) plans, and the employer who offer...more

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