News & Analysis as of September 25, 2024

Property Tax › Eminent Domain

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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 -

Surplus Funds from Tax Sales are a Property Interest

Husch Blackwell LLP on 6/2/2023

On May 25, 2023, the U.S. Supreme Court held that a Minnesota county’s retention of the excess proceeds from sale of a homeowner’s property to satisfy a tax lien violated the Takings Clause. This decision recognizes that...more

Supreme Court Rules County Can’t Keep the Change

Nossaman LLP on 5/26/2023

Local governments—generally counties—impose property taxes on real estate pursuant to state law. Sometimes called ad valorem taxes, these property taxes are set based on the assessed value of the property. When a landowner...more

Property Tax and Valuation Topics - Summer 2019

Pullman & Comley, LLC on 8/13/2019

Approximately 20% of Connecticut’s 169 municipalities usually conduct general revaluations every five years as required by law. Due to a quirk in the schedule, 2019 revaluations will be conducted by only 14 communities. While...more

2017 Legislative Update: New Laws Impacting Commercial Real Estate Clients

Sands Anderson PC on 6/27/2017

On July 1, 2017, new laws passed during the 2017 General Assembly session will go into effect in Virginia that may impact you as someone interested in commercial real estate. They run the gamut of issues touching on the real...more

Property Tax and Valuation TOPICS: Fall 2016

Pullman & Comley, LLC on 10/17/2016

October 1, 2016 Revaluations: If/When/How to Challenge Your Real Estate Property Assessment - Connecticut municipalities are required to carry out a general revaluation of all real estate within their boundaries at least...more

New 2016 Laws Impacting Commercial Real Estate in Virginia

Sands Anderson PC on 9/1/2016

Another session of Virginia’s General Assembly has now come and gone, adding one more chapter to the nearly four hundred year history of the country’s oldest law-making body. Over three thousand bills were proposed in the...more

Property Tax and Valuation Topics: Fall 2015

Pullman & Comley, LLC on 12/2/2015

"Celebrity" Value? In 2004, in the quaint Fenwick borough of Old Saybrook, a developer purchased the beachfront summer home of the late actress Katharine Hepburn. The discovery of a discontinued road, which ran over...more

Mello-Roos May Be Used to Fund Condemnation Action of Private Utility Provider

Nossaman LLP on 4/20/2015

Those of us living in newer neighborhoods are familiar with Mello-Roos – it shows up on our annual tax bills as a way to pay off bonds issued to finance various public improvements, such as schools, streets, and parks that...more

Property Valuation Topics: Winter 2015

Pullman & Comley, LLC on 2/11/2015

Thorny Exemption Issue Discussed - Limited Liability Company X owns property in the Town of Windham which it leases to Corporation Y. Both entities are tax exempt under the Internal Revenue Code. Both entities...more

Time Limit to Transfer Base Year Property Tax Value Expanded for Eminent Domain Takings

Nossaman LLP on 7/22/2014

Californians who have owned their properties for years understand the benefits of Proposition 13: their property taxes are based upon the property's purchase price (with only small allowable annual increases), as opposed to...more

Redevelopment Law Amendments Enacted in New Jersey

Genova Burns LLC on 9/12/2013

Governor Chris Christie signed into law this week A-3615, which makes several important changes to the Local Redevelopment and Housing Law (the “Redevelopment Law”). These changes will impact developers, municipalities and...more

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Property Tax › Eminent Domain

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