Property Tax

Property Taxes are taxes levied against the owner of property located within a particular jurisdiction. Property taxes are often used to refer to taxes on real property. Property taxation schemes vary depending... more +
Property Taxes are taxes levied against the owner of property located within a particular jurisdiction. Property taxes are often used to refer to taxes on real property. Property taxation schemes vary depending on the country or jurisdiction.  However, a popular system involves a government assessment of the value of a property and a rate based on a proportion of the assessed value. A property may be subject to taxation by multiple taxing entities.  less -
News & Analysis as of

News from Second and State

Despite hopes that a state spending plan could be on its way to enactment by Thanksgiving, this week was another budget bust. Amid reports that budget talks had broken down on Tuesday night, Senate Republicans threatened to...more

Bankruptcy Beat: The Second Circuit Establishes a Binding Standard For Lien Extinguishment Under a Plan of Reorganization

The Second Circuit Court of Appeals recently issued an opinion, City of Concord, N.H. v. N. New England Tel. Operations, LLC (In re N. New England Tel. Operations LLC), 795 F.3d 343 (2d Cir. 2015), addressing an issue of...more

What Is Cost Basis and How Do You Prove It?

Knowing the "cost basis" of your property is important for tax purposes, but proving cost basis can be difficult. Cost basis adjusts at death, so it is a good idea to appraise property when a joint owner dies. Cost basis...more

Latest Cook County Data Shows Stabilizing Assessed Values and Uneven Recovery in New Property Values

With property tax levy season in full swing, assessed values and new property values are of major importance to board members and finance officials. For the seventh year we have obtained and analyzed Cook County assessment...more

Pennsylvania Court Decision Bolsters Uniformity Challenges in Real Estate Tax Assessment Appeals

Judge Wettick's recent decision in the case of S&D Shah Corporation v. Allegheny County Board of Property Assessment Appeals & Review, GD 15-13517 (Al. Cty. Comm. Pl. 2015), provides an additional arrow in the quiver of...more

Property Taxes: A Shopping Center May Not Always be a Shopping Center

In the world of real property taxes, Valuation + Classification = Assessed Valuation. Sounds simple, right? The County Assessor determines the first factor, valuation (subject to certain guidelines under applicable Arizona...more

Spotlight On Alabama: A Busy Tax Year in Review

It has been a busy year for developments in Alabama state taxation. In this tax alert we review many of the significant developments that have occurred over the last 12 months....more

Appellate Court Overturns School District’s Attempt to Vacate Ill-Advised Tax Rate Objection Settlement Reached by State’s...

Last week, an Illinois Appellate Court denied several school districts’ attempt to vacate a settlement agreement between the taxpayers’ attorney and the Will County State’s Attorney’s Office in a tax rate objection case. The...more

2015 Nevada State Tax Developments

As a courtesy to our clients, Brownstein Hyatt Farber Schreck’s tax and government relations teams have compiled a summary of recent changes to Nevada tax laws. This summary includes information on recent legislative,...more

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

Equitable Liens: No Mortgage Does Not Necessarily Mean No Lien

Marcum v. Marcum (In re Marcum), 508 B.R. 499 (Bankr. M.D. Fla. 2014) – A creditor made two prepetition loans to a chapter 13 debtor for payment of delinquent real estate taxes. The loans were supposed to be secured by...more

Appellate Court Upholds TIF District Levy and Collection of Taxes

The Illinois Appellate Court recently upheld the actions of a city council in its establishment and implementation of a TIF district (Devyn Corp. v. City of Bloomington). In this case, the Court addressed the adequacy of a...more

Appellate Court Affirms PTAB “No Change” Decision for Lack of Service

In Palos Bank & Trust Co. v. Illinois Property Tax Appeal Board, the First District Appellate Court upheld the dismissal of a complaint for administrative review of a PTAB decision due to the taxpayer’s failure to properly...more

2015 Legislative Update: Summary Of Changes In School Law

ADMINISTRATION - LALI’S LAW (HEROIN CRISIS ACT) - Public Act 99-0480 - Effective Date: September 9, 2015 - School districts, public schools, or nonpublic schools may now authorize a school nurse or trained...more

Indiana Tax Court Reverses Property Tax Ruling Based on Assessor’s “Trial by Ambush”

Even in a small claims proceeding, the Indiana Board of Tax Review must “uphold the fundamental tenet of our judicial system that neither party be subjected to a trial by ambush.” In RJK Trust v. LaPorte County Assessor...more

North Carolina Legislative Report

The General Assembly convened for the 2015 legislative session on January 14. Lawmakers returned to Raleigh on January 28 to begin the session in earnest. The MVA Public Affairs Legislative Report on North Carolina will be...more

Overview of Key Legislative Amendments in Relation to Special Economic Zones Issues

On 9 September 2015 the Mazhilis of Parliament of the Republic of Kazakhstan approved at the first reading the draft law "On Introduction of Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan...more

North Carolina Tax Reform (2015 Edition)

North Carolina’s General Assembly is continuing the overhaul of the State’s tax system that it began in 2013. That year, the General Assembly slashed corporate and individual tax rates, eliminated many income tax deductions...more

The Noose Tightens: Charitable Exemptions Again Under Attack

For decades, charities in Pennsylvania have enjoyed an exemption from real estate taxation and sales and use taxes. Recently, several Pennsylvania appellate decisions have tightened that exemption. As a result, charities...more

Third Time’s a Charm: Governor Bentley and Legislature Reach Budget/Tax Compromise

Summary - Governor Robert Bentley called a second special session of the Alabama Legislature on Tuesday, September 9 at 5 p.m. to address the FY 2016 General Fund budget and associated revenue measures. After meeting for...more

Proceed With Caution – Indiana Property Tax Appeals: Receipt Of Tax Bill Triggered Right To Appeal; Relevancy Objection Overruled;...

In Alvarado v. Lake County Assessor (Aug. 5, 2015), the Indiana Board of Tax Review considered a number of procedural and evidentiary issues in ruling on the 2012 assessment appeal for a residential property....more

Profits vs. Prophets – WItA Examines the RPTL 420-a Exemption

New York’s innovative group, known as Women In (tax) Assessment (WItA) held its 6th Annual Symposium in August which focused on the RPTL 420-a exemption. The group was extremely fortunate to have panelists that represented...more

Indiana Tax Court Nullifies Retroactive Property Tax Assessments for Lack of Proper Notice

On May 12, 2015, the Indiana Tax Court ruled on the property tax appeals for two residential parcels owned by Property Development Company Four, LLC (the “Company”), which in 2003 bought two parcels in Grant County upon which...more

Form 133 Petitions Could Not Be Used to Prove Zero Property Tax Assessments for Common Area Land

In a consolidated case involving more than two dozen appeals, the Indiana Tax Court on September 3, 2015, found in Pulte Homes of Indiana, LLC v. Hendricks County Assessor that the Indiana Board of Tax of Review properly...more

Strong Arm Powers: Does Sovereign Immunity Trump a Claim Based on State Law?

Kohut v. Wayne County Treasurer (In re Lewiston), 528 B.R. 387 (Bankr. E.D. Mich. 2015) – The debtor made property tax payments on behalf of several real estate projects.  The chapter 7 trustee sought to recover those...more

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