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Property Tax › State Budgets

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 -
Cole Schotz

Navigating the NYS 2024/2025 Executive Budget and Its Impact on NYC Multifamily Housing (Part 4 of 4)

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New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified...more

Cole Schotz

Navigating the NYS 2024/2025 Executive Budget and Its Impact on NYC Multifamily Housing (Part 1 of 4)

Cole Schotz on

New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified...more

Maynard Nexsen

2024 Alabama Legislative Update: Regular Session - Week Eight

Maynard Nexsen on

Budgets - On Tuesday, the House Ways and Means Education Committee approved a substitute for the $9.3 billion 2025 Education Trust Fund (ETF) Budget and supplemental ETF appropriations. The ETF is the state’s mechanism...more

Holland & Hart LLP

Highlights from the 2024 Wyoming Legislative Budget Session

Holland & Hart LLP on

Dramatic Finish to the Legislative Session Two weeks after the 67th Wyoming Legislature left Cheyenne, the legislative process concluded. The Governor used all of the available time before the March 23 deadline to make veto...more

Cozen O'Connor

Cozen Cities - February 14, 2024

Cozen O'Connor on

BOSTON — City Leading AI Industry- Boston-area companies are leading in the development of new artificial intelligence (AI) and managing data for AI use. A new report estimates that Boston’s expertise in tech and health...more

Dentons

Iowa General Assembly – Legislative Session Week 4

Dentons on

Week four of the legislative session was action-packed. Drafters, legislators, advocates, and staff are hustling to keep up with the pace and volume of bills being introduced and moving through committees. A number of...more

Cozen O'Connor

Cozen Cities - December 13, 2023

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BALTIMORE — New UpSurge CEO Bets on Baltimore, Tech Tech- entrepreneur Kory Bailey — who was recently named CEO of UpSurge, a nonprofit, professional ecosystem-building organization — spoke about his efforts to build a...more

McCarter & English, LLP

FY2024 New Jersey Budget Review

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After a tumultuous week of drafting and negotiations on State Street, Governor Phil Murphy has signed into law the Fiscal Year 2024 New Jersey Appropriations Act, formalizing the State’s budget for the upcoming fiscal year....more

Dentons

Iowa General Assembly – Legislative Session Week 1

Dentons on

The 90th General Assembly convened for the 2023 legislative session on Monday, January 9. Monday consisted of short organizing sessions in the House and Senate and speeches by leadership in both parties. Priorities set by the...more

Smith Anderson

North Carolina Tax Legislation Enacted in the 2022 Short Session

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The North Carolina General Assembly ended its 2022 short session on July 1. While the legislature is scheduled to reconvene on July 26, no additional tax legislation is expected to be considered....more

Parker Poe Adams & Bernstein LLP

South Carolina Passes Targeted Tax Reform Legislation

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The South Carolina General Assembly passed tax reform legislation providing targeted relief to individuals and to manufacturers, including (i) a one-time rebate of up to $700 in 2021 taxes for individuals; (ii) cuts to the...more

Cozen O'Connor

Philadelphia City Council and the Kenney Administration Reach Budget Deal

Cozen O'Connor on

On June 15, 2022, Philadelphia City Council voted on an operating budget and changes to the real estate and business tax structures out of the committee of the whole....more

Haynsworth Sinkler Boyd, P.A.

HSB Economic Development Update - June 2022

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The HSB Economic Development team published their June 2022 news update, highlighting the following topics: Big Changes to South Carolina Property Taxes and Incentives- The big political news in South Carolina this June...more

Bricker Graydon LLP

First half 2022 review, General Election, and preview of Lame Duck Session

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The Ohio General Assembly finished the first half of 2022 with a rush of lawmaking, appropriating billions of dollars in infrastructure spending, and making policy changes in a range of subjects. Initially, the legislature’s...more

Cozen O'Connor

Broad Street Brief: Mayor Kenney Gives Budget Address

Cozen O'Connor on

Mayor Kenney Gives Budget Address- Today, Mayor Kenney will outline his vision for the upcoming fiscal year’s budget, which will officially kick off budget season. His proposal does not include tax increases, but it...more

Smith Anderson

Finance Provisions of the 2021 Budget Bill

Smith Anderson on

On November 15, 2021, after months of negotiations and four and a half months into the new fiscal year, the North Carolina General Assembly released Senate Bill 105, its proposed budget bill (the "Bill"). Both Chambers...more

Dentons

Iowa 2021 Legislative Report - Week 15

Dentons on

With Week 15 behind us, we are now on the brink of the last scheduled week of session. The 110th calendar day of session falls on April 30....more

Rivkin Radler LLP

N.Y.’s Real Estate Transfer Tax, The 2022 Budget, And Responsible Person Liability

Rivkin Radler LLP on

Approximately two weeks ago, Gov. Cuomo and the New York State Legislature agreed upon a budget for the State’s 2021-2022 fiscal year. Although most businesses and their owners have understandably focused their attention on...more

Dentons

Iowa 2021 Legislative Report - Week 13

Dentons on

Budgets and floor debate dominated week 13. Most of the work was packed into Tuesday, April 6, and Wednesday, April 7, with short sessions at the beginning and end of the week....more

Kramer Levin Naftalis & Frankel LLP

The New York State Brownfield Cleanup Program: Budget Updates and Looking Ahead to an Extension

Kramer Levin Naftalis & Frankel LLP on

Governor Cuomo’s FY 2022 Budget provides relief to participants in the New York State Brownfield Cleanup Program (BCP) that risk losing their Tangible Property Tax Credit due to pandemic-related and other delays....more

Clark Hill PLC

Insight on Illinois - October 2020 #2

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Voting in Illinois is in full swing. Election day is less than two weeks away. The last Presidential debate is this week. In Illinois, the biggest fight is over the proposed Constitutional Amendment to do away with Illinois’...more

Manatt, Phelps & Phillips, LLP

Proposed California Taxes to Address California’s Budget Shortfall in Light of COVID-19

Manatt, Phelps & Phillips, LLP on

California Governor Gavin Newsom’s proposed budget for FY 2020-21 projected a $7 billion surplus and record state spending, but his revised budget projects as much as a $54 billion deficit in light of COVID-19’s impact on the...more

Eversheds Sutherland (US) LLP

Significant tax legislation moves forward in Georgia

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Significant state tax legislation will move forward through the Georgia General Assembly. “Crossover Day” was Thursday, March 11 - the 28th legislative day of 40 total legislative days - the day by which all bills must have...more

Spilman Thomas & Battle, PLLC

The Dome Report - 2020 West Virginia Legislature Update: Issue 5

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The 2020 Regular Session of the West Virginia Legislature is now entering the final stretch with only a little less than two weeks left. No new bills may be introduced in either chamber (though a committee may still originate...more

Eversheds Sutherland (US) LLP

New York Governor announces 2021 budget

Eversheds Sutherland (US) LLP on

New York Governor Andrew Cuomo released his Fiscal Year 2021 budget and accompanying legislation on January 21, 2020 (the Budget Bill). Consistent with Governor Cuomo’s earlier promises, he has not proposed new taxes other...more

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