Ad Valorem Tax

News & Analysis as of

Insurers Seek Enforcement Of State Law Protections For City Of Detroit GO Bonds

On November 8, 2013, three monoline insurers of the City’s general obligation bonds commenced adversary proceedings in the City of Detroit bankruptcy case. Through these actions, the monoline insurers seek to compel...more

Real Property, Financial Services & Title Insurance Case Law Update: Week Ending September 20, 2013

I. FLORIDA STATE CASES - ILAN NIEUCHOWICZ & SASHA FUNK GRANAI - Ad Valorem Taxes: presumption that assessment correct lost in ad valorem tax challenge where taxpayer proves by preponderance of evidence either (i)...more

Energy And Environment Update -- August 19, 2013

In This Issue: Energy and Climate Debate; Congress; Administration; Department of Defense; Department Of Energy; Department Of Interior; Department Of Justice; Department of State; Environmental Protection Agency;...more

Noncitizen Property Owners May be Entitled to Florida Homestead Exemption

Under the Florida Constitution, certain owners of real property in Florida are entitled to a reduction in the assessed value of the property for ad valorem tax purposes. This reduction, called the “homestead exemption,” is...more

Cook County Use Tax Litigation Update

On May 7, 2013, a complaint was filed against Cook County to enjoin the county from enforcing its newly enacted Cook County Personal Property Use Tax (“Tax”). The Cook County Circuit Court has now set a briefing schedule on...more

Pitfalls in the Redemption of Property by Lenders

In Alabama, when a property owner fails to pay his ad valorem property taxes, his property may be sold at a public auction to the highest bidder (the “tax purchaser”). Statutory law in Alabama provides that the owner of the...more

Cook County’s April Fool's Day Joke -- Use Tax on Non-Titled Personal Property Scheduled To Go Into Effect April 1, 2013

Cook County, Illinois, has enacted a 1.25 percent use tax on the "value" of non-titled personal property (i.e., personal property other than motor vehicles) purchased outside Cook County, not subject to Cook County sales tax,...more

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