Local governments—generally counties—impose property taxes on real estate pursuant to state law. Sometimes called ad valorem taxes, these property taxes are set based on the assessed value of the property. When a landowner...more
"Celebrity" Value? In 2004, in the quaint Fenwick borough of Old Saybrook, a developer purchased the beachfront summer home of the late actress Katharine Hepburn. The discovery of a discontinued road, which ran over...more
Thorny Exemption Issue Discussed - Limited Liability Company X owns property in the Town of Windham which it leases to Corporation Y. Both entities are tax exempt under the Internal Revenue Code. Both entities...more