Private Equity VS Real Estate Transactions | Valuation Differences Between Practice & Real Estate
Assessments, Condos vs. Town Homes
Three and a half days after it convened, the Colorado Legislature ended its special session on property tax. The session was called in response to a dramatic increase in property taxes that both residential and commercial...more
While we reported in our last Cabinet News & Views on the final rule regarding quality control standards for AVMs which will take effect one year after publication in the Federal Register (i.e., it has not yet been...more
On June 24, 2024, six federal agencies — the Department of the Treasury (Treasury), the Federal Reserve System (FRS), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the...more
During the 2024 regular session of the Connecticut General Assembly, seven bills were passed and signed into law that deal with a variety of property tax matters. Of these, the most significant is Public Act No. 24-151. This...more
To protect and preserve their right to fair and equitable property tax assessments, taxpayers should understand the fundamentals of Indiana’s assessment system and how to challenge excessive valuations. If you own real...more
It is customary for landlords to require their tenants to pay real estate taxes attributable to the landlord’s property being leased, along with other common area expenses like maintenance, insurance and the like. When there...more
The Connecticut General Assembly's Planning and Development Committee will be holding a public hearing on March 13 at 10:00 a.m. on the following bills of interest to commercial property owners and taxpayers...more
As we’ve seen significant property value appreciation over the last few years, owners and commercial/industrial tenants need to be aware of the opportunity to contest their property’s valuation. Objections to real property...more
Washington D.C.’s Office of the Deputy Mayor for Planning and Economic Development (DMPED) released its proposed rules establishing how the D.C. government will implement the Housing in Downtown Tax Abatement program. A...more
Developer beware! In Wisconsin, assessors may use an “anticipated” vacancy in making assessments. Veritas Village LLC, the owner of a property with 189 apartments in Madison, contested the city's assessment of its property at...more
The District of Columbia published draft regulations to implement a new tax abatement program passed by the D.C. Council in 2023 to encourage office-to-residential conversions in the downtown area, including portions of...more
As readers of this blog probably know, a property tax appeal is initiated by filing a petition with a municipality’s Board of Assessment Appeals. Typically, the appeal must be filed with the Board no later than February 20. ...more
January 1 is the date when most third quarter tax bills are mailed in Massachusetts; therefore, under M.G.L. Chapter 59, the majority of abatement applications must be filed with local assessors’ offices on or before...more
In 2017, twenty years after purchasing a property in Fairfield, the owner became aware that the Town had been valuing her 1.06 acre lot as if it held 1.60 acres. ...more
The City of Norwalk, the sixth largest city in Connecticut, is near to completion of its 2023 real property revaluation. This revaluation is a “full measure and list” revaluation – meaning that it incorporates the results of...more
A large number of Connecticut municipalities are conducting revaluations as of October 1, 2023. A notice containing the proposed new assessment of your property will be mailed before the end of this year. ...more
Office vacancies have caused the values of Bay Area commercial real property to significantly decline in 2022. The value of real property that is used to determine the property tax assessment for the 2023-2024 fiscal year...more
While the recently concluded 2023 legislative session focused largely on other forms of taxation, the Connecticut General Assembly did pass several noteworthy acts regarding property taxation. Income and Expense Reports...more
On June 1, six Federal financial regulatory agencies (Agencies) jointly issued a Notice of Proposed Rulemaking (the Proposed Rule) requiring the implementation of quality control standards for the use of automated valuation...more
On June 20, the Rhode Island state governor signed SB 850 (the “Act”), which amends the Real Estate Appraiser Certification Act and the Real Estate Appraisal Management Company (AMC) Registration Act for consistency with...more
Last week, the Office of the Comptroller of the Currency (“OCC”), Federal Reserve Board (“FRB”), Federal Deposit Insurance Corporation (“FDIC”), the National Credit Union Administration (“NCUA”), and the Consumer Financial...more
On June 8, the Consumer Financial Protection Bureau (CFPB), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), and Office of...more
In the waning hours of the legislative session, the Colorado General Assembly passed a bill that would ask voters to approve a 10-year property tax relief plan to combat skyrocketing home values and backfill lost revenue for...more
Spring is in the air, and so is property tax assessment and appeal season. Each municipality has different procedures and deadlines on advising its taxpayers of the 2023 tax assessments. These deadlines are critical and, if...more
Two bills pending before the Connecticut General Assembly seek to impose a new state-wide property tax on different classes of real property. Currently, property taxes are only imposed at the municipal level of government. ...more