News & Analysis as of

Property Tax › Fair Market Value

Property Taxes are taxes levied against the owner of property located within a particular jurisdiction. Property taxes are often used to refer to taxes on real property. Property taxation schemes vary depending... more +
Property Taxes are taxes levied against the owner of property located within a particular jurisdiction. Property taxes are often used to refer to taxes on real property. Property taxation schemes vary depending on the country or jurisdiction.  However, a popular system involves a government assessment of the value of a property and a rate based on a proportion of the assessed value. A property may be subject to taxation by multiple taxing entities.  less -
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

Ballard Spahr LLP

Pennsylvania: It’s Time to Appeal Your Real Estate Taxes

Ballard Spahr LLP on

The Pennsylvania deadlines for appealing 2025 real estate taxes are fast approaching. There are several factors to consider in determining whether to appeal....more

Farrell Fritz, P.C.

Southampton Reassessment Freeze to Expire in 2025. Change Coming?

Farrell Fritz, P.C. on

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

White and Williams LLP

Philadelphia Delays 2025 Assessment Notices in Face of Billion Dollar Loss in Commercial Assessment Values

White and Williams LLP on

It is no secret that Philadelphia (the City), like many major cities, is facing record high commercial vacancy rates. This is problematic for the City as it is undergoing a citywide reassessment for real estate taxes. The...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

Pullman & Comley - For What It May Be Worth on

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

Amundsen Davis LLC

Assessors Allowed to Use “Anticipated” Vacancy in Making Assessments

Amundsen Davis LLC on

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

Tucker Arensberg, P.C.

Lower 2024 Ratio - New Opportunities for Reducing Your Property Tax Assessment

Tucker Arensberg, P.C. on

In Allegheny County, tax appeal season has begun for 2024. Every year, County property owners have the ability to file an assessment appeal. But this year there are unique opportunities for an assessment reduction....more

Venable LLP

Maryland Tax Updates - January 2024

Venable LLP on

Tax Court Modifies Rushmore Method for Hotel Valuation. The Maryland Tax Court recently modified the traditional Rushmore income approach used to determine the fair market value (FMV) of the real estate component of a hotel....more

Pullman & Comley - For What It May Be Worth

Board of Assessment Appeals – Filing Deadline Resolved

Pullman & Comley - For What It May Be Worth on

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

Pullman & Comley, LLC

What to Do If You Disagree with Your FY2024 Massachusetts Assessment

Pullman & Comley, LLC on

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

Williams Mullen

Industrial Owners Seeking Fair Tax Treatment Should Differentiate Personal Property From Real Estate Values

Williams Mullen on

North Carolina taxes both real estate and personal property, but differing valuation schedules and processes for the two types can lead to confusion and inflated tax bills for industrial property owners. Understanding how...more

Pullman & Comley - For What It May Be Worth

City of Norwalk 2023 Revaluation

Pullman & Comley - For What It May Be Worth on

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

Pullman & Comley, LLC

2023 Municipal Revaluations in Connecticut

Pullman & Comley, LLC on

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

Farella Braun + Martel LLP

Steps for the Long-term Success of Your Brand & Business

Farella Braun + Martel LLP on

Family wineries face certain common issues when it comes to succession planning, and there are steps you can take to help ensure the longevity and success of your brand and business. Step 1 – Develop a Plan - Benjamin...more

Tucker Arensberg, P.C.

State Supreme Court Decision Results in Continued Taxing Body Appeals

Tucker Arensberg, P.C. on

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

Burr & Forman

ATI Exemption for South Carolina Multi-Family Purchasers

Burr & Forman on

South Carolina law provides for a property tax exemption in the year following a sale (the “ATI Exemption”) which should be contemplated in due diligence, property tax planning and a key post-closing task for multi-family...more

Obermayer Rebmann Maxwell & Hippel LLP

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

Obermayer Rebmann Maxwell & Hippel LLP on

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

Buckingham, Doolittle & Burroughs, LLC

Time to Clean Up Your Real Property Tax Value - Deadline to Take Advantage of New Property Tax Law is Quickly Approaching

Buckingham, Doolittle & Burroughs, LLC on

A taxpayer who believes the county assessment is too high, or that the value of their property declined, may contest the valuation and reduce the taxes owed by establishing a lower valuation is warranted. This often includes...more

Ballard Spahr LLP

Pennsylvania Supreme Court Splits Over Tax Appeals

Ballard Spahr LLP on

Summary - The recent 3 – 3 split by the Pennsylvania Supreme Court in GM Berkshire Hills LLC v Berks County Board of Assessment and Wilson School District leaves in place a school district’s ability to target recently sold...more

Tucker Arensberg, P.C.

Lower 2023 Ratio, Court Case on 2022 Ratio, Extended Appeal Filing Period - New Opportunities for Lowering Your Property Tax...

Tucker Arensberg, P.C. on

In Allegheny County, tax appeal season has begun for 2023. Every year, County property owners have the opportunity to file an assessment appeal.  But this year there are unique opportunities for an assessment reduction....more

Pullman & Comley, LLC

2022 Municipal Revaluations in Connecticut

Pullman & Comley, LLC on

Please note:  This alert was originally published on 09/28/2022 and was updated on 11/17/2022. A large number of Connecticut municipalities are conducting  revaluations as of October 1, 2022.  ...more

Pullman & Comley - For What It May Be Worth

Valuation of Conservation Easement Determined by U.S. Tax Court

Pullman & Comley - For What It May Be Worth on

A trial before the United States Tax Court recently determined the value of a conservation easement imposed on a Georgia golf course which was being contested by the Internal Revenue Service. Relying on the “before and after”...more

Kohrman Jackson & Krantz LLP

Working with Appraisers in Property Tax Assessment Appeals

Kohrman Jackson & Krantz LLP on

Recent turbulence in various market sectors is creating the need to sharpen analyses and understandings of property tax assessment valuations. In evaluating the need for real property tax assessment appeals, it is critical to...more

Pullman & Comley - For What It May Be Worth

It's Not Too Early to Begin Thinking About 2023

Pullman & Comley - For What It May Be Worth on

Municipalities in Massachusetts are permitted to value and assess real estate parcels on an annual basis.  While annual adjustments typically are nominal and reflective of slight variations in the market when there have been...more

Pullman & Comley - For What It May Be Worth

Lay Testimony in Property Tax Appeals

Pullman & Comley - For What It May Be Worth on

“Because a tax appeal is heard de novo [Latin “anew”], a trial court judge is privileged to adopt whatever testimony he reasonably believes to be credible.”  Sears, Roebuck & Co. v. Board of Tax Review, 241 Conn. 749, 755-56,...more

88 Results
 / 
View per page
Page: of 4
Next »

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide