News & Analysis as of

Tax Assessment

Scathing Study Calls Out Cook County Property Assessments

by Franczek Radelet P.C. on

Last Friday, the Civic Consulting Alliance (CCA) released a study that calls into question the fairness of the property tax assessment system for Cook County for residential properties. The study, commissioned last July by...more

Eleventh Circuit Cuts Into Presumption Of Correctness Standard For IRS Assessments

by Fox Rothschild LLP on

In United States v. Stein, the Eleventh Circuit recently decided a novel – but critical – issue for taxpayers. It held that an affidavit that satisfies Rule 56 of the Federal Rules of Civil Procedure (the summary judgment...more

Michigan Property Tax and the EMPP Exemption

by Dickinson Wright on

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

It’s That Time Again! Property Tax Appeals In Connecticut: Know When To File

by McCarter & English, LLP on

The deadline for appealing Connecticut local property taxes is again approaching. For many cities and towns, that date is February 20 unless the town has extended the deadline. If a property owner does not file a tax appeal...more

Two Recent Business License Tax Cases Show Increasingly Aggressive Municipalities

Alabama local governments are combatting revenue losses and concomitant budget issues primarily because of the loss of their sales tax base to online sellers and because of their citizens’ demand for more or increasingly...more

Second Department Upholds Loss of Religious Use Real Property Tax Exemption

by Farrell Fritz, P.C. on

On January 18, 2018, the Appellate Division, Second Department, upheld a decision denying an application for a religious real property tax exemption on the grounds that the property owner’s use of the main structure as a...more

New Jersey Property Tax Appeal Time

by McCarter & English, LLP on

It is property tax appeal season in New Jersey. If you own or lease commercial, residential and/or investment property in New Jersey, now is the time to review whether you should file a 2018 appeal. If you own real...more

Governor Rauner Issues Executive Order Precluding State Legislators from Practicing Before Property Tax Appeals Board

by Franczek Radelet P.C. on

This past Friday, Governor Bruce Rauner issued Executive Order 2018-01 entitled “Executive Order to Eliminate Impermissible Conflicts of Interest at the Property Tax Appeals Board”. The Order states that the PTAB “shall...more

2018 Michigan Property Tax Review: Is Your Business Being over Assessed?

by Varnum LLP on

Michigan property values have been relatively stable in recent years. In certain cases, this type of stability will result in predictable and stable property tax assessments. However, there are many instances in which both...more

Virginia Real Property Tax Prepayment Limitation Under the New Federal Income Tax Law

by Williams Mullen on

Many individual taxpayers are rushing to prepay their real property taxes in anticipation of the new lower cap of $10,000.00. Not everyone will be able to take advantage of the tax planning idea. ...more

Indiana Tax Court Affirms 81% Charitable Purposes Exemption for Mental Health Facility

by Faegre Baker Daniels on

On December 8th, the Indiana Tax Court in Starke County Assessor v. Porter-Starke Services, Inc. upheld a charitable purposes exemption applied to a medical building as of the March 1, 2015 assessment date. Taxpayer operated...more

IRS Issues Taxpayer Advisory on Prepayment of 2018 Property Taxes

by Proskauer - Tax Talks on

The IRS announced yesterday, in IR 2017-210 (the “Advisory”), that state property taxes must be “assessed” in 2017 in order for such taxes to be prepaid in calendar year 2017 and therefore deductible in 2017. The Advisory...more

Indiana Tax Court Breathes New Life into Ministry’s Property Tax Exemption Appeal

by Faegre Baker Daniels on

The Indiana Tax Court in Lake County Trust Co., Trust No. 6 v. St. Joseph County Assessor on October 17th reversed the dismissal of an exemption appeal by a 501(c)(3) non-profit, Flowers for Heaven, Inc., operating a pro-life...more

Congress Passes Final Tax Reform Bill: U.S. Tax Reform: The Current State of Play

With the affirmative vote in the House today, both Houses of Congress have now passed a final version of the Tax Cuts and Jobs Act, clearing the legislation for President Trump’s signature. President Trump is widely expected...more

Recent Kentucky Cases Hold That Exempt Owner Does Not Mean Property Taxes Precluded, and Leased Real Property Value May Include...

by Dickinson Wright on

Kentucky cases recently held that property is not exempt from taxation merely because the owner may be constitutionally exempt. Also, the valuation of leased property is rental income less expenses. However, if sales of...more

Can Tenants Challenge Property Tax Assessments?

by Dickinson Wright on

A recent New York case brought into question what had been accepted as a reality, can a tenant challenge the property tax assessment it must pay under the lease? As recognized by the Court, tenants are aggrieved persons under...more

Real Market Values and "Compression" – Property Taxes Continue to Climb in Oregon

by Tonkon Torp LLP on

One of the most significant reasons taxes have increased so much this year is "Compression." Due to Measure 5, Oregon's constitution limits the amount of taxes that can be collected from each property for two categories...more

Extension of Property Tax Discount in Miami-Dade and Potentially Other Counties

by Bilzin Sumberg on

On September 4, 2017, Governor Scott issued Executive Order 17-235 in response to anticipated severe damage across Florida due to Hurricane Irma. The Executive Order granted the Florida Department of Revenue authority to...more

Fall 2017 Property Tax and Valuation Topics

by Pullman & Comley, LLC on

Property Assessment Class Action Fails - On previous occasions, the editors of Property Tax and Valuations Topics have noted that Connecticut courts tend to be rather strict in requiring property owners to pursue statutory...more

Tax Appeals Based on Property Type May Violate State Constitution

by Tucker Arensberg, P.C. on

Valley Forge Towers Apartments N, L.P. v. Upper Merion Area School Dist., 2017 Pa. LEXIS 1520, 163 A.3d 962 (Pa. July 5, 2017). (The Pennsylvania Supreme Court holds that school district’s tax assessment appeal policy...more

One Reason Your Property Taxes Skyrocketed - New Bond Measures

by Tonkon Torp LLP on

Contrary to popular belief, Oregon law does not limit property tax increases to three percent per year. If you received a property tax statement this year, you may have learned this the hard way. Overall tax rates are now at...more

Current Issues for Higher Education Real Estate Lawyers

by Bowditch & Dewey on

Campus Real Estate, Property Management, Tax Credits The 15th Annual Higher Education Real Estate Lawyers conference was held in San Francisco, where attendees listened to and learned from both in-house and outside counsel at...more

Potential Traps for the Unwary in the California Office of Tax Appeals Draft Regulations

by Reed Smith on

The California Office of Tax Appeals (the “OTA”), the new tax tribunal that will be assuming some of the functions of the California State Board of Equalization (“BOE”), has issued its initial set of draft regulations. The...more

Lenders Beware–Retroactive Tax Lien Trumps Recorded Mortgage [Florida]

by Charles (Chuck) Rubin on

Under Florida law, a mortgage lender’s lien against real property takes priority over later filed liens. However, under Fla.Stats. §197.122(1), ad valorem tax liens filed against Florida real property will take priority over...more

Hospital and Homeowner Property Tax Exemptions Examined by Illinois Courts

by Franczek Radelet P.C. on

Illinois Courts are currently examining several different aspects of property tax exemptions, all of which impact the revenues of school districts and other units of local government. Most notably, the Illinois Supreme Court...more

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