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Tax Exemptions Property Owners

Bilzin Sumberg

Live Local Tax Exemption Procedures Updated for 2025

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The Florida Housing Finance Corporation has recently updated its guidance surrounding the Multifamily Middle Market Certification and its application process, as established by the Live Local Act. This initiative is...more

Pullman & Comley - For What It May Be Worth

Recently Approved Property Tax Measures in Connecticut

During the 2024 regular session of the Connecticut General Assembly, seven bills were passed and signed into law that deal with a variety of property tax matters. Of these, the most significant is Public Act No. 24-151. This...more

Pullman & Comley - School Law

Connecticut Bill Targets Property Tax Exemptions for Educational Institutions

A bill has been introduced before the Connecticut General Assembly that would eliminate property tax exemptions for real property acquired by an “independent institution of higher education” on or after October 1, 2024...more

Schwabe, Williamson & Wyatt PC

Oregon’s New Estate Tax Exemption for Family Businesses engaged in Farming, Forestry, ‎or Fishing Businesses

On July 13, 2023, Governor Tina Kotek signed into law SB 498, which provides a new Oregon estate tax exemption for up to $15 million (the NR Exemption) of natural resource property that is used in a decedent’s farming,...more

Locke Lord LLP

‎2023 Changes to Texas Law: Property ‎Tax Exemption for Public Facility Corporations Owning ‎Affordable Housing

Locke Lord LLP on

The 88th Regular Session (2023) of the Texas Legislature approved HB 2071 (the “Bill”), substantially revising the way public facility corporations can be utilized to own and operate affordable housing. While some provisions...more

Pullman & Comley - For What It May Be Worth

Low and Moderate Income Property Tax Valuation Remains Challenging

A recent decision by the Appeals Court of Massachusetts* about the entitlement of two nonprofit corporations which rent apartments at below- market rates to low-income elderly individuals and individuals with disabilities...more

Holland & Knight LLP

DOF Ruling Confirms Property Tax Exemption for Homeless Shelter in a Leasehold Condominium

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In response to a ruling request from Holland & Knight, the New York City Department of Finance (DOF) issued a ruling (FLP-22-5024) holding that a homeless shelter owned and operated by a not-for-profit (NFP) entity is...more

Burr & Forman

Special Property Tax Exemption for Jefferson County Homeowners Age 65 and Older - Deadline of April 30 to Claim

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Last November, Jefferson County, Alabama voters approved a constitutional amendment granting homeowners age 65 and older an exemption to freeze the assessed value of their primary residence to its value in the preceding year....more

Foster Garvey PC

Now Effective: New REET Exemption Available in Washington for Property to Be Used to Provide Affordable Housing

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As of January 1, 2023, providers of affordable housing in Washington State have access to a new exemption from the excise tax on real estate sales (also known as the real estate excise tax, or “REET”). This new exemption,...more

Farrell Fritz, P.C.

Real Property Tax Alert

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Any commercial assessment increase not related to new construction must be phased in over the next 5 years at 20% per year. As we enter the 3rd year since the 2020/21 County-wide reassessment, a reminder, that if your...more

McNees Wallace & Nurick LLC

Commonwealth Court Grants 100% Exemption for Historic Building

In In Re: Appeal of the Coatesville Area S.D., et al., Nos.1130 & 1161 C.D. 2018 (Pa. Commw. Ct. Aug. 19, 2022), the Commonwealth Court decided cross-appeals of a taxing school district and a property owner regarding the...more

Faegre Drinker Biddle & Reath LLP

Expecting Indiana Property Tax Exemptions? Be Sure to Timely File Your Applications

Indiana taxpayers with property that is or may be exempt from real or personal property tax have up to and including April 1 to file an exemption application (the Form 136, with supporting attachments). Exemptions are not...more

Epstein Becker & Green

Charitable Health Systems and Other Owners of Tax-Exempt Property with Operations in Ohio Should Prepare for Upcoming Changes to...

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Starting in 2022, Ohio will require owners of tax-exempt real property to notify the county auditor if the exempt property ceases to qualify for exemption....more

Bricker Graydon LLP

Changes coming to Ohio’s real property tax exemption laws

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Beginning in 2022, Ohio will require owners of exempt real property to notify the county auditor if the property “ceases to qualify for exemption.” House Bill 110 - the most recent budget bill - included a provision that...more

Cozen O'Connor

District of Columbia Legislation of Interest to Owners of Real Property in the District

Cozen O'Connor on

ELIMINATION OF TERMINATION EXEMPTION FOR DISTRICT OF COLUMBIA UNINCORPORATED BUSINESS FRANCHISE TAX - Under District of Columbia Code, resident or nonresident limited liability companies and general and limited...more

Manatt, Phelps & Phillips, LLP

Prop 19 to Significantly Restrict Family Transfer Exclusion From Property Tax Reassessment

On November 3, 2020, California voters approved Prop 19, which will make several changes to the state’s property tax laws. Among these changes are new restrictions on the applicability of the...more

Faegre Drinker Biddle & Reath LLP

Own a Tax-Exempt Property? Be Sure to Timely File Your Applications

The annual exercise of filing real and personal property tax exemption applications is once again upon Indiana taxpayers, as the April 1 deadline for these applications draws near. If an application is required and not filed,...more

Bricker Graydon LLP

Hospitals: Annual filing deadline to seek real estate tax exemption is near

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While Ohio law presumes that all real estate is taxable, hospitals can achieve substantial tax savings by seeking exemption from real property taxation for property they own and use to provide health care services pursuant to...more

Buckingham, Doolittle & Burroughs, LLC

Paving the Way to Tax Refunds | Firm Wins Big for Ohio Heavy Highway Contractors

Buckingham Tax Attorneys Steve Dimengo and Rich Fry recently obtained a favorable ruling from the 9th District Court of Appeals for their client in Karvo Paving Co. v. Testa, 2019-Ohio-3974. This victory enables highway and...more

Farrell Fritz, P.C.

Real Property Tax Alert - September 2019

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Nassau County Class 4 Commercial Property – Disputed Assessment Fund (“DAF”) Program Continues with 2018/19 bills - All Class 4 commercial properties now fund potential property tax refunds by contributing to the DAF. The...more

Foster Garvey PC

Short-Term Rental Update: Disney works its magic for short-term rentals; Airbnb educates Seattle's short-term rental community

Foster Garvey PC on

Disney Works its Magic for STRs - ("Anaheim leaders are reversing their ban on short-term rentals that offer an alternative to hotels to tourists to Disneyland and the area," OC Register - Business News on Jun 5, 2019) ...more

Bradley Arant Boult Cummings LLP

New Act Simplifies Payment in Lieu of Tax Transactions and Reduces Red Tape for Industrial Development Boards - Economic...

On April 30, 2019, Tennessee Gov. Bill Lee signed into law Public Chapter No. 265 (Senate Bill No. 708 or “S.B. 708”), amending the provisions of Tenn. Code Ann. § 67-5-502 relating to the taxation of leasehold interests....more

Maynard Nexsen

Facing property revaluation? Here’s what you need to know.

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Twenty-six counties will conduct revaluations of all real estate in January 2019 and property owners — including businesses, nonprofit organizations and individuals — should pay close attention....more

Ruder Ware

The Wisconsin Homestead Exemption

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Farmers may have wondered how a neighbor or someone else filing bankruptcy can keep his or her house. The answer is exemptions. Exemptions are assets that can be kept from unsecured creditors. The Wisconsin Legislature...more

Holland & Knight LLP

U.S. Tax Reform's Main Effects on Real Property Investors and Developers

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President Donald Trump signed the Tax Cuts and Jobs Act into law on December 22, 2017, enacting comprehensive U.S. tax reform with most provisions becoming effective starting on January 1, 2018 (generally until 2025). The...more

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