News & Analysis as of September 20, 2024

Property Tax › Personal Property Tax

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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 -

2023 Developments in Virginia Taxation

Williams Mullen on 3/5/2024

A Summary Review of Tax Legislation, Court Decisions, Opinions of the Attorney General and Published Rulings of the Tax Commissioner Published from January 1, 2023 through November 10, 2023....more

The Source of Income from the Sale of Personal Property

Freeman Law on 4/15/2022

The Source of Income from the Sale of Personal Property Generally, income from the sale of personal property is “sourced” to the residence of the seller. If the seller is a U.S. tax resident the source of the income is deemed...more

The Appeals Process for Property Tax Appraisals

Freeman Law on 11/24/2020

Property tax, or ad valorem tax, is a fact of life for people and businesses in Texas. As one of the few states in the United States without income tax, Texas counties rely on property tax as a source of revenue to pay for...more

In updated COVID-19 FAQ, Indiana Department of Local Government Finance clarifies application of interest to late property tax...

Faegre Drinker Biddle & Reath LLP on 4/27/2020

On April 24th, the Indiana Department of Local Government Finance updated its FAQ covering topics related to “COVID-19 & Executive Orders,” as those orders relate to property tax assessments, collections and payments....more

Indiana Department of Local Government Finance issues FAQ regarding personal property tax filings, waiver of penalties, 2020...

Faegre Drinker Biddle & Reath LLP on 4/13/2020

As posted earlier, on March 19, 2020, Indiana Governor Eric Holcomb issued Executive Order 20-05. Section 6(B) of the Order states: Property taxes remain due on May 11, 2020, however counties are to waive penalties on...more

[Event] Nonprofit Property Tax Exemptions: Getting Started and Maintaining Compliance - January 24th, San Francisco, CA

Farella Braun + Martel LLP on 1/16/2019

The deadlines for California nonprofit organizations seeking to initially obtain or renew exemption from real estate or personal property taxes are quickly approaching. Please join us as we review the current state of the law...more

Starting in 2019 Indiana General Assembly imposes Heavy Equipment Rental Excise Tax in lieu of Personal Property Tax

Faegre Drinker Biddle & Reath LLP on 4/2/2018

The Indiana property tax filing season is upon us, with Form 136 exemption applications for the January 1, 2018 assessment date due by April 1st for taxpayers wishing to claim exemptions for real and personal property. ...more

Michigan Property Tax and the EMPP Exemption

Dickinson Wright on 2/6/2018

2018 Deadline for Claiming Qualified Eligible Manufacturing Personal Property Exemption is February 20, 2018 - Qualified new and used personal property (as defined by MCL 211.9m and 211.9n) is exempt from ad valorem...more

South Carolina Economic Development Incentives: The Negotiated Fee in Lieu of Property Taxes

Burr & Forman on 7/8/2016

South Carolina has some of the highest business property taxes in the Southeast. The state generally taxes land, buildings, machinery and equipment, and furniture and fixtures, but does not tax inventory, pollution control...more

Alert: Important Personal Property Assessment Ruling

Pullman & Comley, LLC on 1/26/2016

Many Connecticut clients of the Pullman & Comley Property Tax Valuation Department own significant amounts of taxable personal property such as fixtures and furnishings, warehouse equipment and computer systems in addition to...more

The Windy City’s Taxes on Cloud Computing, Streaming Services

Eversheds Sutherland (US) LLP on 8/11/2015

On August 7, the Chicago Department of Finance delayed the effective date of the imposition of the Personal Property Lease Transaction Tax (the Lease Tax) on cloud computing services from September 1, 2015, to January 1,...more

Triple Threat: U.S. House Subcommittee Considers Three State Tax Bills

Eversheds Sutherland (US) LLP on 6/3/2015

On June 2, 2015, the U.S. House of Representatives Judiciary Committee’s Subcommittee on Regulatory Reform, Commercial and Antitrust Law conducted a hearing on three state tax bills: the Mobile Workforce State Income Tax...more

Phase-Out of School District and Local Government Property Tax Replacement Payments Proposed

Benesch on 3/16/2015

In February 2015, the Ohio General Assembly introduced House Bill 64 (“H.B. 64”), which is the biennial operating budget bill for the biennium beginning July 1, 2015. H.B. 64 contains language that would restart the...more

South Carolina Property Tax Assessments: Should I Appeal?

Nexsen Pruet, PLLC on 10/22/2014

Understanding South Carolina's real and personal property tax structure involves a trip back to your high school algebra class. Essentially, the amount of tax you owe depends upon three variables...more

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Property Tax › Personal Property Tax

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