News & Analysis as of September 22, 2024

Property Tax › Penalties

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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 -

Update on San Francisco’s Treatment of Vacant Properties

Buchalter on 2/20/2023

Update - This article is partly a republication of a Client Alert that was issued on December 6, 2022 titled “San Francisco’s Commercial Vacancy Tax.” Readers who have already read the original article can simply read...more

General Assembly Approves Legislation Allowing All Counties Except Cook County to Waive Interest Penalties for Late Property Tax...

Franczek P.C. on 5/28/2020

Last week, the General Assembly adopted legislation that attempts to clarify the power of county boards to waive all or a portion of the interest penalty of 1.5% per month that is normally applied to late property tax...more

Cook County Board to Consider Sixty Day Break on August Tax Bill

Franczek P.C. on 5/16/2020

This week Cook County Board President Toni Preckwinkle announced that the County Board of Commissioners will be considering an ordinance at their May 21st meeting to waive penalty interest for 60 days following the August 2nd...more

Nassau County Commercial Real Property Tax Alert

Farrell Fritz, P.C. on 3/9/2018

Annual Survey of Income and Expenses – ASIE-2017 Pursuant to the Nassau County Administrative Code, Section 6-30, the Nassau County Department of Assessment (“the Assessor”) is requiring the submission of 2017 financial data...more

South Carolina County Government Must Give Taxpayers a Hearing on Property Tax Penalty Where the Taxpayer Raises County Error

Burr & Forman on 6/1/2017

If South Carolina property taxes are not timely paid, the county Assessor must assess a late-payment penalty. However, the county Treasurer is given authority to waive an assessed late payment penalty if a taxpayer can...more

MoFo New York Tax Insights - Volume 7, Issue 11

Morrison & Foerster LLP on 11/4/2016

ALJ Permits Only Minimum Penalties for Failure to File Information Returns - A New York State Administrative Law Judge has rejected the maximum penalties imposed by the Department of Taxation and Finance on an...more

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