News & Analysis as of

Property Valuation

Did Colorado Raise Your Property Tax Value? Here's How to Challenge the Valuation

by Faegre Baker Daniels on

Every odd year, Colorado reassesses real property for a two-year period. This year, we are seeing huge increases in property tax values across the state and especially in the Denver/Boulder areas. The value increases are...more

Sledgehammers on hold

by Dentons on

The Valuation Office Agency has amended its practice note on how a property will be assessed for business rates when undergoing refurbishment or redevelopment. The revised practice note is a consequence of the Supreme...more

Is a lease always just a lease?

by Shutts & Bowen LLP on

For one Miami-Dade County shopping center owner, the answer is now yes, but only after a ruling from Florida’s Third District Court of Appeal in Garcia v. Dadeland Station Associates, Ltd. In 2015 that owner found itself...more

Potential wealth tax

by Hogan Lovells on

The Davis Tax Committee (DTC) has issued a media statement calling for submissions by 31 May 2017 on the potential imposition of a wealth tax. The Minister of Finance established the DTC in 2013 to inquire into the role of...more

Final 2016 Cook County Equalization Factor Released

by Franczek Radelet P.C. on

Last Friday the Illinois Department of Revenue released the final 2016 Cook County equalization factor, which will be used to calculate the second installment property tax bills that are anticipated to be due in August 2017....more

Lancaster County 2018 Property Reassessment: Evaluating Your Preliminary Notice

by Barley Snyder on

Property owners in Lancaster County likely have received their 2018 Preliminary Property Assessment Notice, which shows the property’s preliminary 2018 reassessed value. While the notice provides answers to frequently asked...more

Is Property Tax Reform Coming to Oregon?

by Tonkon Torp LLP on

As our state faces a $1.6 billion budget shortfall, lawmakers are considering a number of ways to raise taxes to bridge the gap. One current proposal asks Oregonians to reconsider Measure 50, their 1990s-era property tax...more

Valuing Underground Natural Gas Storage in Eminent Domain Proceedings

by Nossaman LLP on

In California eminent domain proceedings, a property owner is entitled to the “fair market value” of the property being acquired. Typically, fair market value is determined by analyzing comparable sales or by utilizing an...more

Michigan’s 2017 Property Tax Assessment Appeal Deadlines Are Approaching

by Dickinson Wright on

Wednesday, May 31, 2017, is the deadline for filing 2017 petitions with the Michigan Tax Tribunal for property tax appeals involving commercial real property, industrial real property, developmental real property, commercial...more

Property Tax & Valuation Topics - Spring 2017

by Pullman & Comley, LLC on

Momentous LIHTC Decision Does Not Materialize - In the Winter 2017 issue of Property Tax and Valuation Topics, we projected that the Connecticut Supreme Court’s anticipated ruling in Nutmeg Housing Development...more

A Homeowner’s Mortgage Insurance Obligation is Not Modified by a Mortgage Modification

by Tucker Arensberg, P.C. on

Mortgage insurance can be an expensive proposition for homeowners at the same time that it provides assurance to lenders. Whether the term of paying insurance premiums can be extended as the result of a mortgage modification...more

Pending Appeal in Michigan Supreme Court May Warrant Filing a Protective Property Tax Appeal This Year

by Dickinson Wright on

On February 1, 2017, the Michigan Supreme Court ruled that it would hear oral arguments on the application for leave to appeal in Menard. One of the issues to be considered is “whether the Michigan Tax Tribunal may utilize a...more

Newbigin – A reality check - Newbigin v Monk

by Dentons on

It has not been rosy in the business rates garden recently. Following the Woolway v. Mazars decision, the vagaries of the business rates revaluation and the complete uncertainty and potentially adverse consequences flowing...more

Lancaster County property owners, reassessment is coming!

by Barley Snyder on

After more than a decade, the Lancaster County Property Assessment Office reassessment of property values will begin this year and become effective January 1, 2018. The purpose of the reassessment is to align all property...more

Supreme Court decision slashes empty rates bills for developers

by Hogan Lovells on

The rateable value of commercial premises is generally equal to the rent payable under a hypothetical letting on the relevant assessment date. There are some express statutory assumptions for this – it is to be an annual...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

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

Michigan’s 2017 property tax assessment notices are in the mail. Should you appeal?

by Dickinson Wright on

Local assessors are in the process of sending annual notices of real and personal property tax assessments to property owners/taxpayers, who must determine whether the assessments are correct and whether an appeal should be...more

Wisconsin Supreme Court Clarifies Required Assessment Methodology for Section 42 Housing

by Foley & Lardner LLP on

Regency West concerned the 2012 and 2013 assessments of a newly constructed 72-unit Section 42 housing development. For 2012 (the first tax year following completion of construction), the city assessed the property at...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

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

Court Rejects PTAB Decision for Excluding Evidence of Deceased Appraiser

by Franczek Radelet P.C. on

At the end of 2016, the Illinois appellate court reversed and remanded a PTAB decision that excluded one party’s evidence because the appraiser who authored the appraisal died prior to the hearing. The case at issue, 1411...more

Amendments to Philadelphia's Realty Transfer Tax Will Have a Significant Impact

Recent amendments to Philadelphia’s realty transfer tax will likely change the way commercial real estate is bought and sold. Rather than sell the real estate directly and record a traditional deed to evidence the...more

Property Tax and Valuation TOPICS: Fall 2016

by Pullman & Comley, LLC on

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

Colorado Board of Equalization Approves TIF Property Tax Changes

On Oct. 5, 2016, the Colorado Board of Equalization (BOE) approved changes proposed by the Property Tax Administrator that could affect tax increment throughout the state. The Property Tax Administrator’s proposed changes...more

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