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Property Tax Tax Exemptions

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 -

If It Doesn’t Say So, It Aint So: Michigan Supreme Court Holds For-Profit Schools Entitled To Property Tax Exemption

by Fraser Trebilcock on

A unanimous Michigan Supreme Court decision this week will have big implications for for-profit schools and colleges – and even for-profit laboratories, research and development facilities, and test centers. On Monday,...more

New York's 421-a Tax Exemption for New Residential Buildings is Back

by Holland & Knight LLP on

The New York State Legislature has passed and Gov. Andrew Cuomo has signed legislation re-establishing the 421-a Tax Exemption Program after a nearly two-year hiatus. The program, which was first put in place in the early...more

New 421-a Legislation

The recently adopted state budget bill included the long-awaited revisions to the 421-a program. These amendments to the Real Property Law, dubbed the “Affordable New York Housing Program,” provide partial exemptions from...more

SJC Issues Property Tax Ruling Regarding Religious Organization

by Foley Hoag LLP on

In a noteworthy development relevant to property tax exemptions for religious organizations in the Commonwealth, the Supreme Judicial Court issued a ruling on March 22, 2017 in Shrine of Our Lady of La Salette Inc. v. Board...more

Illinois Supreme Court Declines to Rule on Constitutionality of Illinois Hospitals' Property Tax Exemption Law

by Hinshaw & Culbertson LLP on

There have been two new developments in the long running saga over a charitable property tax exemption for hospitals in Illinois....more

IL Supreme Court Avoids Ruling on Constitutionality of Hospital Exemption

by Franczek Radelet P.C. on

The Illinois Supreme Court has issued an opinion in Carle Foundation v. Cunningham Township, the case involving the constitutionality of the statute granting hospitals a special property tax exemption. In remanding this case...more

Pending Alabama Tax Legislation (2017 Regular Session) State and Local Tax Alert: Alabama Edition

The House and Senate have each met a total of six legislative days thus far. There are therefore 24 legislative days remaining in the 2017 Regular Session. The House will reconvene on Tuesday, February 28 at 1:00 p.m. The...more

Property Tax Exemption Application Deadline Approaches

March 1st is the deadline for filing all property tax exemption applications in the state of Florida. No matter in which of the 67 Florida counties you own property, please be certain that any property tax exemptions you may...more

Tax Court Puts Brakes on Recent Trend Limiting Religious/Non-Profit Exemptions

by Cole Schotz on

In a recent tax court case, Holy Trinity Baptist Church v. City of Trenton (Docket No. 015909-2014, February 2, 2017), the court overturned the findings of the County Board of Taxation and upheld the tax exemption for...more

Did You Forget to File Your ATI Exemption? You Can Still Lower Your Property Taxes

by McNair Law Firm, P.A. on

Property tax values in South Carolina are generally determined every five years through county-wide reassessments. Since property tax values are determined every five years (and subject to a 15% cap on increases under...more

Annual Filing for Welfare Exemption Due On or Before February 15th

The February 15, 2017 deadline for nonprofit organizations in California seeking to initially obtain or renew exemption from property taxes is quickly approaching, and there are changes to the reporting requirements if your...more

Michigan’s new exemption for manufacturing personal property -- Claims are due February 21 this year.

by Dickinson Wright on

For purposes of Michigan property taxes, qualified manufacturing personal property (as defined by MCL 211.9m and 211.9n) located on occupied real property is exempt from ad valorem taxation and, rather, is subject to a much...more

Nashville Islamic Center’s Religious Discrimination Claims Dismissed

A federal district court in Tennessee recently dismissed for lack of subject matter jurisdiction a claim by the Islamic Center of Nashville (ICN) lawsuit challenging a Tennessee property tax exemption law on religious freedom...more

Michigan Tax News - January 2017

by Dickinson Wright on

Michigan’s 2017 property tax assessment notices are in the mail. Should you appeal? Local assessors are in the process of sending annual notices of real and personal property tax assessments to property owners/taxpayers,...more

The Latest on Property Tax Exemptions for Illinois Hospitals

by Franczek Radelet P.C. on

Recently, there have been several noteworthy developments in the controversy surrounding property tax exemptions for Illinois hospitals. For the past decade we’ve been providing updates as this issue progressed through the...more

Property Tax & Valuation Topics - Winter 2017

by Pullman & Comley, LLC on

On September 30, 2016, the Connecticut Supreme Court heard oral argument in Nutmeg Housing Development Corp. v. Colchester. On the face of it, the ad valorem valuation of a garden variety property in the suburbanizing Town...more

Personal Planning Strategies - December 2016

by Proskauer Rose LLP on

2017 Estate, Gift and GST Tax Update: What This Means for Your Current Will, Revocable Trust and Estate Plan - As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following permanent:...more

House Tax Policy Review Committee Update - Public Policy Alert from the South Carolina State House - November 2016

by Nexsen Pruet, PLLC on

Overview - The South Carolina House Tax Policy Review Committee held its sixth meeting on Tuesday, November 15th, to discuss property tax and sales tax exemption issues. Committee Chairman Tommy Pope (R-York) began the...more

Changes to the principal residence exemption

by Dentons on

On October 3, 2016, the Minister of Finance of Canada announced changes to the federal Income Tax Act that will affect the availability of the principal residence exemption to non-residents and those who hold their principal...more

Nashville Islamic Center Claims Tax Rules Impose Unfair Burden

The Islamic Center of Nashville (ICN) recently filed a federal complaint and request for declaratory judgment against the State of Tennessee, the Metropolitan Trustee of Nashville, and the Tennessee State Board of...more

Illinois Supreme Court Finds Special Exemption Unconstitutional

by Franczek Radelet P.C. on

Last Thursday the Illinois Supreme Court struck down a special property tax exemption for a single aeronautical services company operating out of the Quad City International Airport. As noted in the July 2015 FR Alert...more

June Special Session?

Gov. Mark Dayton rejected a $259 million tax cut bill at midnight Tuesday by declining to sign it (pocket veto). The Omnibus Tax Bill would have delivered new credits, exemptions and deductions for farmers, businesses and...more

Connecticut Tax Developments

by Shipman & Goodwin LLP on

2016 Legislative Session: The New Economic Reality - In his February 2016 State of the State address, Governor Malloy announced that his administration would be adopting a new approach to state budgeting in light of...more

Perspectives - June 2016

by Benesch on

In April 2016, the Department of Labor (DOL) released the final version of the fiduciary rule. The final rule was six years in the making and impacts retirement plans, including 401(k) plans, and the employer who offer...more

MoFo New York Tax Insights - Volume 7, Issue 6

by Morrison & Foerster LLP on

New York City Tribunal Rejects City’s Attempt To Forcibly Combine Bank And Its Mortgage Subsidiary - The New York City Tax Appeals Tribunal, affirming a determination of the Chief Administrative Law Judge, has held that...more

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