Property Owners Property Tax

News & Analysis as of

Environmental Stigma Can Reduce Value of Property - Application of a 5 Percent “Standard” Stigma Devaluation for Contaminated...

In a case that will have an impact on the owners of property that has been devalued as a result of environmental conditions, the Pennsylvania Supreme Court recently agreed that contaminated real estate could be appraised at 5...more

Property Tax Notices (TRIM notices) are arriving in your mailbox shortly!

Property Appraisers in Florida will send out Truth in Millage (TRIM) notices to all property owners at some point in the next two weeks. These TRIM notices will show the property tax assessments and market values for 2015,...more

June Expiration of Select New York City Residential and Commercial Incentive Programs

Four major New York City based incentives programs for residential and commercial property owners and tenants are scheduled to sunset in June. Depending on individual circumstances, there may be an opportunity to vest...more

Tax Assessment Appeal Preserved

The Commonwealth Court en banc held that a tax appeal from an interim assessment dated September 27, 2012 was properly preserved, notwithstanding that the taxpayer did not appeal a subsequent assessment that reflected a tax...more

Property Tax Assessments: Should you appeal?

While a recovery is underway for the commercial real estate market, everyone is still looking for ways to cut expenses. Real estate taxes represent one of the most significant expenses of commercial real estate and while many...more

Owners of Tax-Exempt Property in Philadelphia Must Provide Proof of Right to Continued Tax-Exempt Status

The Philadelphia Office of Property Assessment (OPA) has sent letters to all charitable organizations in the city that own property shown as tax-exempt, in whole or in part, in the OPA’s records. Attached to the letter is a...more

Real Property Tax Review is Especially Critical in an Upward Trending Market – The 2015 Real Property Tax Appeal Season Has...

Property owners should be receiving their annual property tax assessment notices (post cards) from the municipal assessor’s office at this time. Receipt of this assessment notice indicates that it is time to determine whether...more

It’s That Time Again! Tax Appeals in Connecticut: Know When to File

The deadline for appealing Connecticut local property taxes is approaching. If you are considering appealing local property taxes this year, the following is a general explanation of Connecticut’s appeal procedure and...more

New Jersey Tax Appeal Time - Tax & Benefits Alert

It is property tax appeal season in New Jersey. If you own or lease commercial, residential and/or investment property in New Jersey, now is the time to review whether you should file a 2015 appeal....more

Property Tax Appeals In Minnesota: Deadline For Petition Is April 30

Property owners should have already received their 2014 property tax statements from the county assessor. The tax statements will identify the assessor’s estimated market value for the owner’s property as of January 2, 2013,...more

John Gaied v. New York State Tax Appeals

Opinion Reversing Appellate Court Judgment

New York State’s highest court, the Court of Appeals, today issued a decision reversing an appellate court judgment in John Gaied v. New York State Tax Appeals Tribunal. The case involved a resident of New Jersey who owned...more

California Issues Guidance on Nonprofit Property Owners Hosting Solar

The California Board of Equalization in December 2013 issued guidance to advise nonprofit real-estate owners of the property tax consequences of hosting on their tax exempt properties solar generating equipment owned by...more

RETT: Reentry of partner in property owning partnership

Transfer of interests leads to loss of qualification as a former partner within the meaning of Sec. 1 para 2a RETTA. The Federal Financial Court of Germany recently decided that real estate transfer tax (RETT) is due...more

For 2014 Business Property Owners In Allegheny County Have Another Shot At Assessment

Remember the real estate tax reassessment that occurred in Allegheny County over the past year or so? Allegheny County retained an outside expert to value all Allegheny County real estate parcels; the new assessments were...more

Real Estate Capital Gains Tax for Non-U.K. Residents

From April 2015, nonresidents will have to pay capital gains tax (CGT) on gains made from residential property sales in the United Kingdom, George Osborne announced today....more

How to Handle Real Property as an Estate Fiduciary

Estate fiduciaries, whether serving as executor and administrator, often face a great deal of uncertainty in exercising their duties. While certain types of personal property are fairly easy to manage while the estate is...more

PA Tax Law News -- September 2013

In This Issue: Commonwealth Court Denies Manufacturing Exclusion to Service Provider; PA Telecom Gross Receipts Litigation Finally Moving; Philadelphia Property Owners Take Notice! Reassessment Appeal Deadline...more

Alabama Legislature Passes Bill Protecting Lenders’ Rights When Redeeming Property

Before concluding its legislative session, the Alabama Legislature passed a bill that provides a lender additional protection when a lender is forced to redeem property due to its borrower’s failure to pay property taxes on...more

I Bought a Tax Lien Certificate – When Can I Foreclose? #Foreclosure

If you pay your property taxes through your monthly mortgage payment, you probably are not concerned about delinquent property taxes. Your mortgage lender pays those taxes directly when they come due. ...more

Commonwealth Court Opinion Contains Important Lessons for Property Owners

On January 23, a panel of the Commonwealth Court in Krohn v. Snyder County Board of Assessment Appeals, Nos. 116 and 117 C.D. 2012 (January 23, 2013), overturned an attempt by Snyder County to reassess a two acre tract of...more

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