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Property Tax › Tangible Property

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 -
Pierce Atwood LLP

Rhode Island Businesses Could Soon Receive Tax Relief

Pierce Atwood LLP on

Rhode Island Senate leadership is backing legislation that would exempt the first $100,000 of tangible property from property taxation by municipalities. The tangible tax is currently levied on businesses for property other...more

Burr & Forman

South Carolina Tax Litigation Update: First Quarter 2018

Burr & Forman on

There were several notable state tax opinions issued by the South Carolina Administrative Law Court, Court of Appeals, and Supreme Court in the 1st quarter of 2018. A number of tax cases are also pending before the Court of...more

Pillsbury Winthrop Shaw Pittman LLP

Ballot Initiative Seeks to Eliminate Prop 13 for Commercial and Industrial Real Estate

Pillsbury Winthrop Shaw Pittman LLP on

Initiative 17-0055 would limit Proposition 13 protection to residential property. New initiative seeks to eliminate Proposition 13 protection for commercial and industrial property by requiring fair market value...more

Benesch

Phase-Out of School District and Local Government Property Tax Replacement Payments Proposed

Benesch on

In February 2015, the Ohio General Assembly introduced House Bill 64 (“H.B. 64”), which is the biennial operating budget bill for the biennium beginning July 1, 2015. H.B. 64 contains language that would restart the...more

Neal, Gerber & Eisenberg LLP

California Seeks to Clarify Standards of Review for Hotel Property Tax Assessment Appeals

Neal, Gerber & Eisenberg LLP on

Hotels are one of the most misunderstood properties when valued by local assessors for property tax purposes. A hotel’s enterprise activity is comprised of tangible property, in the form of real estate and personal property,...more

Troutman Pepper

Complying With The Tangible Property Regulations – Procedural Guidance Provides Favorable Rules That Require Immediate...

Troutman Pepper on

Late last year, the IRS and Treasury Department released final and proposed regulations that affect the tax treatment of costs associated with plants, buildings, equipment, and machinery. These rules affect the costs...more

Eversheds Sutherland (US) LLP

A Pinch of SALT: State Tax Treatment of a 'Manufacturer'

Eversheds Sutherland (US) LLP on

Originally published in State Tax Notes. Many states have created special treatment for manufacturers, including tax exemptions, credits, and special income tax apportionment rules. In this edition of A Pinch of SALT, we...more

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