News & Analysis as of

Reassessments

Cozen O'Connor

Broad Street Brief: Mayor Parker Holds Arena Town Hall

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Mayor Parker Holds Town Hall on Proposed Center City Arena- On Wednesday evening, Mayor Cherelle Parker hosted a community meeting at the Pennsylvania Convention Center regarding the proposed $1.55 billion Center City...more

Cozen O'Connor

Cozen Cities - August 14, 2024

Cozen O'Connor on

Gig Economy & Technology NEW YORK — City Deploys Drones for Major Storm Warnings- New York City emergency management officials have deployed five teams with multiple drones to warn residents in basement or ground-floor...more

Cozen O'Connor

Broad Street Brief: Harris-Walz Ticket Debuts in Philadelphia

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Property Reassessments to Raise Homeowners’ Tax Bills $330- Though Mayor Cherelle Parker and City Council left the real estate tax rate unchanged this year, Philadelphia homeowners can expect to see property taxes increase...more

Farrell Fritz, P.C.

Southampton Reassessment Freeze to Expire in 2025. Change Coming?

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The Town of Southampton has been an active participant in New York State’s Cyclical Assessment Program under RPTL §1573, conducting a reassessment of all properties at 100% of market value on an annual basis from 2004 through...more

Womble Bond Dickinson

South Carolina’s Alphabet Soup Part II: ATIs and FILOTs after South Carolina’s Tax Code Amendments

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Our previous Client Alert discussed assessable transfers of interest or “ATIs” and Fee in Lieu of Tax “FILOT” Agreements in the aftermath of significant amendments to South Carolina’s Tax Code in 2022. As discussed...more

Coblentz Patch Duffy & Bass

2023 Reduction In Property Taxes (Prop 8)

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

Davis Wright Tremaine LLP

California Modifies Employment Regulations Regarding Criminal History

New regulations effective October 1, 2023, will impact how employers may consider criminal history in employment decisions. The Fair Chance Act (FCA) prohibits California employers with five or more employees from inquiring...more

Tucker Arensberg, P.C.

State Supreme Court Decision Results in Continued Taxing Body Appeals

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GM Berkshire Hills LLC v. Berks County Board of Assessment (2023 Pa. LEXIS 272, February 28, 2023) – – Split Supreme Court Ruling Enables Taxing Body Assessment Appeals Based on Recent Sales to Remain - Counties, schools...more

Obermayer Rebmann Maxwell & Hippel LLP

Could A Tax Assessment Appeal Save You Money? If so, you Must Act Now!

The system of real estate taxation in Pennsylvania is quite complex, resulting in many owners of commercial, industrial, or residential properties paying more than their “fair share” of real estate taxes. ...more

Parker Poe Adams & Bernstein LLP

What Businesses Need to Know About the 2023 Mecklenburg County Tax Revaluation

Businesses that own real estate in Mecklenburg County should be on the lookout for an increase in their tax bills next year. Real estate is often a company’s most expensive asset, and annual property taxes can be a hefty sum....more

Saul Ewing LLP

New Castle County Reassessment Process Moving Along

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New Castle County has announced that the firm conducting its countywide reassessment is now out in the field and inspecting properties, including commercial, office, and other non-residential properties. The goal is to...more

Faegre Drinker Biddle & Reath LLP

Philadelphia’s First City-Wide Reassessment Since 2019 Presents Opportunities for Relief

A little over two years ago, the COVID-19 pandemic fundamentally altered how we conduct business and go about our daily lives. Although day-to-day life is beginning to return to normal, the pandemic’s effects on business and...more

Cozen O'Connor

Broad Street Brief: Property Reassessments Cause Residential Values to Skyrocket and Commercial Values to Increase Less...

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CITY HALL- Property Reassessments Cause Residential Values to Skyrocket and Commercial Values to Increase Less Dramatically- On Tuesday, the Kenney administration announced the value of the average residential property...more

McNees Wallace & Nurick LLC

Philadelphia Reassessment Update

The City’s Office of Property Assessment is planning to post the results of reassessments of all properties in Philadelphia by Monday, May 9, 2022....more

Davies Ward Phillips & Vineberg LLP

Taxpayers Must Pay Interest on Non-Existent Tax Debts

In The Bank of Nova Scotia v The Queen, the Tax Court of Canada (TCC) considered how to calculate arrears interest on an audit adjustment that is offset by a loss carryback. ...more

Faegre Drinker Biddle & Reath LLP

Change of Ownership: The Long-Term Lease Exception to California Property Tax Reassessments

As many commercial and retail operators know, a transfer in California property interests may lead to a sizable increase in a taxpayer’s property tax liability. Specifically, while property values are capped under Proposition...more

Ballard Spahr LLP

Philadelphia Suffers Big Uniformity Loss in Commonwealth Court Tax Ruling

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The Pennsylvania Commonwealth Court (in Duffield House, L.P. v. City of Philadelphia - available here) unanimously held that the City’s reassessment of only commercial real estate (not residential real estate) in 2018...more

Clark Hill PLC

2021 Is a Reassessment Year for Properties in the City of Chicago

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For 2021, the Cook County Assessor’s Office has begun the reassessment process for all properties located within the City of Chicago. In Cook County, townships have been divided up into three separate groups and each group is...more

Faegre Drinker Biddle & Reath LLP

Don’t Get Overtaxed: A Guide to Colorado Property Taxes and Appeals in 2021

The pandemic has upended industries across the globe. And while federal and state governmental programs have generously provided aid to certain individuals and corporate entities, such aid currently does not relieve taxpayers...more

Davis Wright Tremaine LLP

Time Is Ticking: Changes to California's Parent-Child Property Tax Reassessment Exclusion Take Effect February 15

California voters approved Proposition 19 in November 2020, which updates California's long-standing property tax reassessment rules. There are two major provisions of Prop 19....more

Farella Braun + Martel LLP

Prop. 19 Passed, Here Is What You Need to Know

Proposition 19, which passed last month, has important consequences for all real property owners in California. It is important to act quickly before Proposition 19's effective date of February 16, 2021. Proposition 19 has...more

Manatt, Phelps & Phillips, LLP

Prop 19 to Significantly Restrict Family Transfer Exclusion From Property Tax Reassessment

On November 3, 2020, California voters approved Prop 19, which will make several changes to the state’s property tax laws. Among these changes are new restrictions on the applicability of the...more

Greenberg Glusker LLP

Proposition 19 Set to Limit Ability to Transfer California Real Property Between Parents and Children Without Property Tax...

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California Proposition 19, which appeared on the November 3, 2020, ballot, appears likely to pass. The measure currently has a 51.1% “Yes” vote, although all votes have not been counted and the results of the election have...more

Coblentz Patch Duffy & Bass

Election Results: Key San Francisco and California Ballot Measures Impacting Real Estate

In late October, we reported on a number of California, San Francisco, and regional propositions, including measures impacting real estate and other taxes, rent control, affordable housing, permits, and governance. At the...more

Farella Braun + Martel LLP

[Webinar] Estate Planning During Uncertain Times - September 22nd, 9:00 am - 10:00 am PT

Estate planning for vineyard and winery owners has come to the forefront during this unpredictable pandemic and in light of the upcoming general election. There may be things out of your control, but your estate plan isn’t...more

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