Developing Philly: The State of Philadelphia's Tax Abatements in 2022
In 2020, Fairfax County, Virginia, adopted an Economic Incentive Program (EIP) that, among other incentives, provides for a partial real estate tax abatement equal to the difference in value between the base value...more
The New York City Industrial and Commercial Abatement Program (ICAP) will be extended to remain in effect through 2029, with no modifications. The bill to extend the deadline from March 1, 2025, to March 1, 2029, to...more
Since the beginning of the pandemic, the writing has been on the wall that downtown D.C. could use a breath of fresh air. With office vacancy rates skyrocketing, the Bowser administration has made no secret of its desire to...more
Washington D.C.’s Office of the Deputy Mayor for Planning and Economic Development (DMPED) released its proposed rules establishing how the D.C. government will implement the Housing in Downtown Tax Abatement program. A...more
The District of Columbia published draft regulations to implement a new tax abatement program passed by the D.C. Council in 2023 to encourage office-to-residential conversions in the downtown area, including portions of...more
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
While the recently concluded 2023 legislative session focused largely on other forms of taxation, the Connecticut General Assembly did pass several noteworthy acts regarding property taxation. Income and Expense Reports...more
We are introducing a mini-series, “Developing Philly.” The podcast episodes will explore issues that are top-of-mind for developers, owners, and commercial investors throughout the Philadelphia region. We’ll focus on zoning...more
On Labor Day, Governor Kathy Hochul signed Senate bill S6350A that prohibits most individual unit owners or shareholders in condominiums (condos) or cooperatives (coops) from obtaining or maintaining tax abatements under...more
Last year, Philadelphia City Council enacted changes to Philadelphia’s residential tax abatement program via legislation that reduced the value of certain approved abatements by 10 percent per year, commencing with abatements...more
As a school official, have you ever wondered, “what do I do with this CRA tax abatement notice from the city?” There are certain quantitative and legal analysis points that school districts should consider when being...more
The Fairfax County Board of Supervisors recently moved forward in its consideration of a new Economic Incentive Program (EIP) that would provide tax abatements and other incentives for development in this Northern Virginia...more
Coops and condos will not need to pay their service employees prevailing wages to keep their units eligible for the Cooperative and Condominium Tax Abatement (the abatement). The abatement reduces property taxes between 17.5...more
Texas Governor Greg Abbott signed HB 3143 into law, extending the Texas Chapter 312 property tax abatement program for a period of 10 years. In addition to extending the program, the bill also provides for increased...more
The Texas state legislature must decide whether or not to extend the ad valorem property tax abatement program currently authorized under state law. The program is currently set to expire on September 1, 2019. Local tax...more
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
The Commonwealth Court en banc held that a tax appeal from an interim assessment dated September 27, 2012 was properly preserved, notwithstanding that the taxpayer did not appeal a subsequent assessment that reflected a tax...more