News & Analysis as of

Tax Assessment

Cozen O'Connor

Cozen Cities - September 11, 2024

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CHICAGO — CTA Launches AI Surveillance to Stop Gun Violence at Transit Stations- The Chicago Transit Authority (CTA) recently rolled out an artificial intelligence (AI) surveillance tool to detect guns at stations, a move...more

Tucker Arensberg, P.C.

Allegheny County Moves Tax Appeal Deadline to October 1 - Limited Time for Assessment Relief

Tucker Arensberg, P.C. on

In Allegheny County, tax appeal season has already begun for 2025. For every tax year, County property owners have the ability to file an assessment appeal. ...more

Brownstein Hyatt Farber Schreck

Colorado Special Session on Property Tax: We Have a Deal!

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

Cozen O'Connor

Broad Street Brief: Philadelphia Electeds Represent at DNC

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City Controller Christy Brady is criticizing Philadelphia's new “streetery” licensing system for its complexity and high costs, which could deter restaurants from applying and cause financial losses for both the City and...more

Morgan Lewis

Upcoming Deadline to Dispute California Property Tax Valuation

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For California property owners that could potentially reduce their property taxes with a decline-in-value assessment appeal, the property tax assessment appeals for 2024 are due by either September 16 or December 2 depending...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

Mayer Brown

Normative Instruction RFB No. 2,205/2024: Regulation of the Effects Applicable to Cases Decided by CARF by Casting Vote

Mayer Brown on

On July 24, 2024, Normative Instruction No. 2,205/ of the Brazilian Federal Revenue Service (the "Instruction”) was published, that regulates Article 25, paragraph 9-A, and Article 25-A of Decree No. 70,235/1972, establishing...more

Cadwalader, Wickersham & Taft LLP

IRS Private Letter Ruling Says CPACE Loans Qualify for REMIC Transactions

The IRS recently concluded that certain commercial property assessed clean energy (“CPACE”) assets are “obligations . . . secured by an interest in real property” under Code Section 860G(a)(3) in a private letter ruling...more

McNees Wallace & Nurick LLC

Allegheny County Changes its Annual Assessment Deadline for the 2025 Tax Year and Forward

Allegheny County is no longer going to be the oddball Pennsylvania county when it comes to its annual assessment appeal deadline. On June 4, 2024, Allegheny County amended its Ordinance regarding annual assessment appeal...more

Pullman & Comley - For What It May Be Worth

Recently Approved Property Tax Measures in Connecticut

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

Barnea Jaffa Lande & Co.

New Israeli Court Ruling on Artificial Transactions

A recent court ruling in the Shalam Packaging Products Group case addressed claims made by the Netanya tax assessor. The assessor argued the group executed a restructuring solely to reduce its tax liabilities by offsetting...more

McNees Wallace & Nurick LLC

Pennsylvania Real Estate Annual Assessment Appeal Deadlines Are Quickly Approaching for Tax Year 2025

Pennsylvania real estate taxes are usually very large line items on any corporate balance sheet. Accordingly, you should be reviewing your assessed value(s) on an annual basis if you are a Pennsylvania commercial or...more

Faegre Drinker Biddle & Reath LLP

If You Own Real Property in Indiana — Frequently Asked Questions

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

Sherman & Howard L.L.C.

Colorado Property Tax Appeals, Part 2

Property taxes play a crucial role in supporting our local communities. The revenue generated from property taxes goes directly toward funding public schools, county governments, special districts, municipal governments, and...more

Franczek P.C.

Illinois Supreme Court Rules that Payment of Property Taxes Is Not Required to Pursue a PTAB Appeal

Franczek P.C. on

On May 23, 2024, the Illinois Supreme Court issued a highly anticipated ruling on whether a taxpayer is required to pay its property tax bill before pursuing an appeal at the Property Tax Appeal Board (PTAB). In Shawnee...more

Holland & Knight LLP

IRS Authority to Assess Certain Foreign Information Return Penalties Restored by D.C. Circuit

Holland & Knight LLP on

The U.S. Court of Appeals for the District of Columbia Circuit (D.C. Circuit) on May 3, 2024, reversed the U.S. Tax Court (USTC) in Alon Farhy v. Commissioner, No. 23-1179 (D.C. Cir. May 3, 2024) by holding that...more

Sherman & Howard L.L.C.

Colorado Property Tax Appeals

Property taxes are on the rise in Colorado, and many residents are looking for ways to appeal their property tax assessments. If you own real property, it is essential to understand the process of review and appeal, known as...more

Kilpatrick

What is a Penalty & Penalty Abatement?

Kilpatrick on

Penalty Abatement at the State and Local Level: Everybody makes mistakes. Some are honest, some are dumb, and some are even intentional. However, few things are more frustrating than a mistake that leads to or is...more

Blank Rome LLP

Misapplication of Complete Auto

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The South Dakota Supreme Court recently analyzed the four-part Complete Auto test to determine if the State’s use tax results in a burden on interstate taxation in Ellingson Drainage, Inc. v. South Dakota Department of...more

Lowndes

Real Estate Tax Considerations for Landlords and Tenants

Lowndes on

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

Pullman & Comley - For What It May Be Worth

March 13 Public Hearing on Bills of Interest to Commercial Property Owners and Taxpayers in Connecticut

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

Buckingham, Doolittle & Burroughs, LLC

Ohio Real Property Tax – Were you impacted by the wave of property tax increases? It’s time to check if your property tax...

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

Akerman LLP

D.C. Government Publishes Proposed Rules on Tax Abatements for Residential Conversions

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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

Amundsen Davis LLC

Assessors Allowed to Use “Anticipated” Vacancy in Making Assessments

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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

Maynard Nexsen

North Carolina Property Owners - New Property Valuations are out. How do I contest my valuation?

Maynard Nexsen on

Did you recently receive a real property revaluation notice? If you live in one of 21 counties across the state, the answer is yes! These counties revalued all of their commercial and residential property for ad valorem tax...more

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