Tax Education Commercial Real Estate

Read need-to-know updates, commentary, and analysis on Tax issues written by leading professionals.
News & Analysis as of

Illinois Court Finds Special Property Tax Exemption Unconstitutional

A property tax exemption designed to benefit a single aviation company was recently found unconstitutional by the Illinois Appellate Court. The exemption was only for fixed base operators (FBOs) providing aeronautical...more

Indiana Tax Court Upholds Property Tax Exemption For Early Learning Center

On April 1, 2015, the Indiana Tax Court in Johnson County PTABOA and Assessor v. KC Propco LLC d/b/a Kindercare Learning Center affirmed the grant of a 100% real property tax educational purpose exemption for property used as...more

2015 Property Tax Levies Will Be Limited to 0.8% Growth

Last week the U.S. Bureau of Labor Statistics released the Consumer Price Index (CPI) for All Urban Consumers that will be used in the PTELL limiting rate calculations for 2015 property tax levies collected in 2016. The 2015...more

One State Explores Imposing Real Property Tax on Nonprofits

In states such as New York, where local governments and public schools are funded by taxes on real property, exemptions are often highly scrutinized by assessors and taxpayers alike. However, the exemption provided to...more

Maine Supreme Court Clarifies Property Tax Exemption For Non-Profits

In a case watched closely by Maine’s non-profit organizations, the Maine Supreme Judicial Court has held that Hebron Academy, a private secondary school, was exempt from property tax on its various school buildings. The...more

WSJ Article Reveals How Other States Equalize Education Funding

A recent article in the Wall Street Journal details how the soaring value of Texas oil fields has not resulted in much additional revenue for local school districts. In Karnes City, Texas, an eightfold increase in the value...more

Upscale Retirement Complex Denied Religious and Charitable Property Tax Exemptions

The Second District Appellate Court recently upheld the Department of Revenue’s denial of a property tax exemption for the Village at Victory Lakes in Lindenhurst, Illinois, which is a continuing care retirement community...more

PA School Districts Seek to Increase Property Taxes of Selected Businesses

A new and growing trend in the field of property tax assessment continued this summer, as school districts in the eastern part of the state filed what could be a record number of appeals of selected property owners’ tax...more

New Study Shows Declines in TIF Revenues

Tax Increment Financing (TIF) Districts throughout Illinois are experiencing declines in revenues as a consequence of the changes in the real estate market. TIF Districts operate by diverting a portion of property tax revenue...more

"Purely Public Charities" in Pennsylvania. Back to the future – again.

A recent Pennsylvania Supreme Court decision has rekindled the issue of what constitutes a "purely public charity" for real estate tax exemption purposes in Pennsylvania. The decision may lead to a renewed interest of school...more

Voluntary Payments in Lieu of Taxes a Growing Trend Nationwide

As local governments continue to search for additional sources of revenue in times of fiscal uncertainty, a little known but long-standing mechanism is getting renewed attention. The concept of payments in lieu of taxes,...more

School Districts Across the Country Face Property Tax Refund Exposure

It may seem as though paying property tax refunds is only a problem for school districts in Illinois, or perhaps only for school districts in certain parts of Illinois. But school districts across the country face the...more

Real Estate Issues Related to Foreign Educational Programs

More than 260,000 U.S. Students Studied Abroad in 2008/2009 Academic Year • Although down by .8% cf’d to 2007/2008, more than half of campuses responding (55%) reported increases in 2009/2010 cf’d to 2008/2009...more

Divided Appellate Court Denies Tax Exemption for Sale-Leaseback Property

The Fourth District Appellate Court recently found that the Department of Revenue correctly denied a property tax exemption where a charitable organization sold a property to a limited liability company formed by a concerned...more

Illinois Appellate Court Refines the Role of Comparable Sales in Assessment Disputes

The Second District Appellate Court recently issued a decision addressing the role of comparable sales when determining a property’s fair market value under Illinois law. The decision, Board of Education of Meridian Community...more

Illinois Supreme Court Clarifies Calculation of Interest on Property Tax Refunds

Last week, the Illinois Supreme Court settled the question of how interest should be calculated on property tax refunds when it ruled on General Motors Corporation v. Pappas. This follows the Illinois General Assembly’s...more

Charter Schools Not Tax Exempt

The Ohio Supreme Court recently ruled that charter schools, while serving and educational purpose are not tax exempt like similarly situated general public schools under ORC Section 5709.07(A))(1). This creates a difficult...more

Christian School Faces Tax and Foreclosure Problems

The Summit Christian School in Palm Beach County is facing a foreclosure on its property by a credit union to who the school owes $9.3 million. Circuit Judge Meenu Sasser will hear the request by the credit union to foreclose...more

18 Results
View per page
Page: of 1

Follow Tax Updates on:

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.