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Property Tax › Today's Popular Updates

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 -
Farrell Fritz, P.C.

Real Property Taxation of Solar and Wind Energy Systems in New York State: Update

Farrell Fritz, P.C. on

An earlier Tax Tracker discussed the appraisal methodology for solar and wind energy projects in New York State under Section 575-b of the Real Property Tax Law: Real Property Taxation of Solar and Wind Energy Systems In New...more

Allen Matkins

Sustainable Development and Land Use Update 3.19.24

Allen Matkins on

The Los Angeles Superior Court issued a highly anticipated ruling on March 4, 2024, addressing a Builder’s Remedy project denial by the City of La Cañada Flintridge. The decision confirms (i) that a local jurisdiction cannot...more

Maynard Nexsen

Florida Client Alert:  New and Future Changes to Florida Laws Affecting Real Property

Maynard Nexsen on

Tort reform laws are not the only significant changes underway in Florida. There also are a series of changes to Florida law that either have taken effect, will take effect, or may potentially take effect (more on that...more

Husch Blackwell LLP

Texas Legislature Revises Law Governing Public Facility Corporations

Husch Blackwell LLP on

On June 18, 2023, HB 2071—the Texas legislature’s solution to perceived abuses of property tax incentives related to Public Facility Corporations (PFCs)—took effect. The law amends Local Government Code Chapter 303, which...more

Locke Lord LLP

‎2023 Changes to Texas Law: Property ‎Tax Exemption for Public Facility Corporations Owning ‎Affordable Housing

Locke Lord LLP on

The 88th Regular Session (2023) of the Texas Legislature approved HB 2071 (the “Bill”), substantially revising the way public facility corporations can be utilized to own and operate affordable housing. While some provisions...more

Bricker Graydon LLP

How Will the Recent Tyler v. Hennepin County, Minn. Decision Affect Ohio's Land Banking?

Bricker Graydon LLP on

As widely expected by land banking advocates, the U.S. Supreme Court handed down an opinion steeped in the language of “home equity theft” to find a taking under the federal Constitution in a Minnesota case that screamed for...more

Venable LLP

Cryptocurrencies, NFTs, and State Tax - There's Lots That We Don't Know Yet

Venable LLP on

Every so often something new and different comes along in the world of state and local tax that does not fit within the existing conceptual frameworks and rules. For example, the delivery of digital books and other digital...more

BCLP

10 things you should know when investing in Germany or England and Wales

BCLP on

In what ways can ownership in Real Estate be acquired? In Germany - The most common way to obtain ownership in German real estate under German Law is in the form of absolute ownership. Pursuant to statuary law, absolute...more

International Lawyers Network

Buying and Selling Real Estate in Costa Rica (Updated)

International Lawyers Network on

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER COSTA RICAN LAW - General - Real estate law in Costa Rica is governed by the principles established in the Costa Rican Civil Code for acquiring, selling and in any way disposing...more

Smith Anderson

Finance Provisions of the 2021 Budget Bill

Smith Anderson on

On November 15, 2021, after months of negotiations and four and a half months into the new fiscal year, the North Carolina General Assembly released Senate Bill 105, its proposed budget bill (the "Bill"). Both Chambers...more

BCLP

Impact of UK Autumn Budget on real estate sector

BCLP on

It was a relatively light Budget for the real estate sector. Highlights included the long-awaited announcement of the rate of the residential property developer tax and some reform of business rates....more

McGuireWoods Consulting

Illinois End of Session Update

McGuireWoods Consulting on

Speaker Welch First-Term Highlights - Illinois elected a new Speaker of the House for the first time in almost 40 years after former House Speaker Michael Madigan was ousted from his leadership and later resigned at the...more

Best Best & Krieger LLP

California Proposition 19: What Does This Mean for Property Tax Transfers and Exemptions?

Best Best & Krieger LLP on

Children Inheriting Parents’ Property Will Be Impacted Financially - Newly passed Proposition 19 will have potentially severe financial consequences for children inheriting property from their parents. Approved by California...more

Perkins Coie

Navigating Proposition 19: Planning for 2021 Changes to California Real Property Tax Reassessment Rules

Perkins Coie on

On November 3, 2020, California voters narrowly approved Proposition 19 (The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act) and with it comes significant property...more

Sheppard Mullin Richter & Hampton LLP

California Property Tax Changes to Parent-Child Exclusion

Sheppard Mullin Richter & Hampton LLP on

Recently passed Proposition 19 will seriously limit the ability to transfer California real property to a child without causing a reassessment and higher property taxes. The new law takes effect February 16, 2021, so if you...more

Coblentz Patch Duffy & Bass

Prop 19 Passes: Preserve Low Property Taxes for Next Generation

Coblentz Patch Duffy & Bass on

California’s unofficial election results indicate that Proposition 19, one of the two Propositions affecting California property tax rules, passed and will affect transfers after February 15, 2021. Commercial and industrial...more

Pillsbury Winthrop Shaw Pittman LLP

California’s Proposition 15 Is Failing While San Francisco Accepts a Bevy of Local Tax Measures

Pillsbury Winthrop Shaw Pittman LLP on

California voters say “No” to split roll, and San Francisco voters say “Yes” to higher gross receipts taxes and real estate transfer taxes. Initial returns show California voters rejecting Prop. 15. San Francisco voters...more

Lowndes

Appellate Court Reconsiders Decision in Disney Property Tax Appeal

Lowndes on

On Friday, the Fifth District Court of Appeal issued a revised opinion in a closely-followed case, Singh vs. Walt Disney Parks and Resorts, a property tax appeal involving the 2015 assessment of Disney’s Yacht & Beach Club...more

Carlton Fields

Hotel Ruling Could Save Disney World Millions in Taxes

Carlton Fields on

The Walt Disney World Resort has won its latest legal battle that will save the company — and potentially many other big hotel owners — millions of dollars in property taxes....more

Holland & Knight LLP

Property Tax Initiative Qualifies for Ballot and Could Partially Undo California's Proposition 13

Holland & Knight LLP on

Proposition 13, California's long-standing property tax law, is at risk of being partially unraveled, and along with it, property owners would incur a substantial increase in property taxes. On May 29, 2020, the initiative,...more

Cole Schotz

Third Circuit Decision Is A Cautionary Tale About The “Security” Of Tax Lien – Certificate Holders’ Security In Bankruptcy

Cole Schotz on

Tax lien certificates are a marketable commodity in several jurisdictions, including New Jersey. The Third Circuit’s recent decision in In re Hackler v. Arianna Holdings Company, LLC, No. 18-1650, __ F.3d __, 2019 2019 WL...more

Farella Braun + Martel LLP

Unpacking California Solar Taxation: What to Know During Development

Farella Braun + Martel LLP on

Development of solar projects in California has been spurred by California’s renewable portfolio standard (RPS), which requires that 60% of retail electricity sales must be served by renewable resources by 2030 and requires...more

Foster Garvey PC

Short-Term Rental Update: Sonder now worth $1 billion after its latest funding round; commercial tax rate could quadruple...

Foster Garvey PC on

Sonder Reaches Unicorn Status - ("Airbnb competitor Sonder says after new funding round it’s now worth $1B," Real Deal - LA Real Estate News on Jul 11, 2019) Congratulations is well-deserved for Sonder, which just...more

Clark Hill PLC

2019 Arizona Legislative Updates Affecting Commercial Real Estate and Lending (June 2019)

Clark Hill PLC on

The First Regular Session of the 2019 Arizona Legislature produced a number of bills affecting commercial real estate and lending that were ultimately approved by the Governor. The text of, and fact sheets and other documents...more

International Lawyers Network

Buying and Selling Real Estate in Massachusetts

International Lawyers Network on

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER MASSACHUSETTS LAW - I. STANDARD FORMS OF AGREEMENTS - A. Offer to Purchase sets forth buyer’s offer of price, date for closing, contingencies for inspections, financing etc. and...more

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