Property Valuation

News & Analysis as of

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

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?

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

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

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

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

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

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

Judge, not Jury, Must Consider the Constitutionality of a Dedication Requirement and Whether it Qualifies as a "Project Effect"

One issue that can arise in eminent domain actions involving undeveloped (or under developed) property is whether the property being acquired is potentially subject to a dedication requirement. If the property’s overall...more

2015 Cook County Assessments Show First Upturn in Seven Years

For the first time in seven years, the trend line for assessed value in Cook County is pointing up. Beginning with the 2008 assessment year when we began tracking this data, assessed values have steadily, sometimes...more

No Doubting Thomases Allowed!

Expert appraisers have testified that the proposed development will not adversely affect values of properties adjacent to this new development. Nevertheless, the testimony does not seem right to you. You remember the Great...more

Starting an en bloc sale - Salient issues to consider

When Chinese developer Qingjian Realty signed a conditional contract to buy the 358 units Shunfu Ville for S$638 million in May this year, some believe that this could herald the dawn of a new wave of collective or en bloc...more

Property Tax and Valuation Topics: Summer 2016

Interim “Watch Tower” Revaluation After High Sale Upheld - The last citywide revaluation conducted by Milford was as of October 1, 2011. On that date, the residential property at 19 Beach Avenue was valued by the...more

Two Decisions out of San Diego Remind Us to Follow the Rules

We don’t often see multiple takings-related cases in one week, but last week we saw three. The California Supreme Court’s decision in Property Reserve was obviously the most important, but the Fourth Appellate District Court...more

The Court of Appeal redefines the “but-for” causation test for negligence: Losses caused to a lender by a surveyor’s negligent...

In a landmark judgment with wide implications for the lending, refinancing and valuation industries, in Tiuta International Ltd (In liquidation) v De Villiers Surveyors Ltd [2016] EWCA Civ 661, the Court of Appeal, by a two...more

Debtors’ Lien-Stripping Attempt Likely Would Have Succeeded in New Hampshire

A North Carolina bankruptcy court recently denied a Debtors’ attempt to “strip off” a junior lien on their primary residence by rejecting the argument that the property should be valued near the time of plan confirmation. In...more

South Carolina Economic Development Incentives: The Negotiated Fee in Lieu of Property Taxes

South Carolina has some of the highest business property taxes in the Southeast.  The state generally taxes land, buildings, machinery and equipment, and furniture and fixtures, but does not tax inventory, pollution control...more

Real estate finance transactions and valuation uncertainty – an unhelpful trigger?

The outcome of the EU referendum has put valuers in an unenviable position. The RICS Red Book requires a valuer to identify a situation where a reduced level of certainty should be attached to their valuation (VPGA 9 –...more

Defeated North Carolina Class Action Ultimately Results in Victory for Landowners – NCDOT Loses Map Act Fight

What began several years ago as a defeated attempt at a class action against the North Carolina Department of Transportation (NCDOT) ultimately resulted in a win this month for plaintiff landowners in Kirby v. NCDOT (No....more

Alabama Property Tax Protest Season is Underway

The 2016 property tax protest season has arrived. In Alabama, property tax valuations are handled on a county-by-county basis. Some counties mail valuation notices to all taxpayers. Others rely on publication notice and only...more

Jefferson County Taxpayers Have Until June 9, 2016 to Protest Real Property Values

The Jefferson County Tax Assessor’s office mailed real property valuation notices on May 11, 2016. ...more

Ratings – Recent and Future Developments

This briefing provides a summary of recent decisions in relation to how premises are to be assessed for ratings purposes and important changes in the pipeline with upcoming appeals and the passing of the Enterprise Act 2016....more

Pennsylvania Property Tax Reassessment Update

Several counties in Pennsylvania are conducting countywide property reassessments. This update provides status changes for Washington, Blair and Lancaster Counties, along with a set of important deadlines and basic assessment...more

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