News & Analysis as of September 19, 2024

Property Tax › Tax Increment Financing

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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 -

Intensive Care for Hospital Finances: Economic Development Tools

Bricker Graydon LLP on 8/24/2023

Like many industries across the nation, Ohio’s hospitals are experiencing tight margins, rising costs, and increased demands for medical services. In Ohio, local governments have the power to administer economic...more

New Brownfield Redevelopment Law Amendments in Michigan

Warner Norcross + Judd on 7/25/2023

On July 18, 2023, Governor Gretchen Whitmer signed a series of bills that will dramatically update the state’s brownfield redevelopment laws to allow the use of tax increment financing for housing projects on brownfield sites...more

Illinois Appellate Court Defeats TIF District for Lack of Parcel Contiguity and City’s ‘Casual Approach’ to Procedural Obligations

Franczek P.C. on 7/29/2020

Last Friday the Illinois Appellate Court for the Third District shot down a tax increment financing (TIF) district created by the City of Crest Hill finding that the parcels within the proposed TIF area were not contiguous...more