Daily NAPTA Update 02.29.2024

Posted by Diane Macri | Feb 29, 2024 | 0 Comments

Hundreds of millions in taxes owed by oil, gas companies


The Rural Municipalities of Alberta (RMA) wants the Alberta Energy Regulator (AER) to prevent oil and gas companies with property tax arrears from operating. It says steps taken to curb unpaid municipal taxes have had a nominal impact on collecting back taxes from "zombie" companies, and more must be done.

1 big thing: Macy's shrinks


Macy's will continue to get smaller, announcing another round of store closures in the face of declining sales and activist investors who want the company to sell itself. The closures are part of a larger plan for new CEO Tony Spring — a first step in his attempted makeover of Macy's after taking the reins less than a month ago, Nathan writes with Axios' Kelly Tyko.

Home prices hit new record


Housing in major U.S. cities is as expensive as it's ever been, Axios Markets co-author Emily Peck writes from new data that tracks home prices in 20 metro areas. That index hit a new high in December when a modest and temporary drop in interest rates coaxed more buyers into the market. It was the seventh straight month of increases.

Cooling Inflation Hasn't Made Construction Cheaper. Builders Explain How They're Adapting


Developers, owners and construction companies are examining every part of their process in an attempt to figure out how to bring costs down. Their methods include pushing costs back to eventual tenants, taking newer, sustainability-focused materials into consideration, incorporating prefabricated components and looking further afield for tax breaks.

1 big thing: Where economic distress is less


The Southeast has become distinctly more prosperous in just a few years — part of a shift in the geography of economic distress in the U.S., according to new data reported first by Axios. The latest update of the Distressed Community Index, out today from the Economic Innovation Group, shows large parts of the country are becoming more vibrant.

Hillsborough County schools propose property tax hike to address teacher shortages


As the Hillsborough County school district continues to grapple with staffing shortages, the superintendent hopes to find a solution in the form of a new property tax. In a school board meeting Tuesday, Superintendent Van Ayres said he is trying to get a referendum on the November ballot to help give teachers and administrators raises.

You can expect to see real property tax relief within next few years

Farm Progress

An older commercial for an antacid product, Rolaids, asked how do you spell relief? Katrina Hall says farmers now have their own version of property tax relief. It didn't come in the form of a tablet, but instead thanks to legislation farmers pushed for from the Indiana General Assembly.

Sen. Dover discusses his bill to simplify property-tax relief


State Sen. Rob Dover of Norfolk has a bill in the Legislature introduced on behalf of Gov. Jim Pillen designed to streamline property-tax relief. Dover told News Talk WJAG's Jeffrey Steffen that LB-1415, would revise the Property Tax Incentive Act. Dover said, currently, everyone receives their property-tax statements, which show the amount of tier-one relief. But one must pay one's taxes and ask for tier-two relief.

A clerical error almost led to the foreclosure of Enfield Community Center

The Ithaca Voice

As the Enfield Community Council board, which operates the community center, held its annual meeting last week, kids and parents filed in and out of the small building all evening long — a karate class, a local competition cheerleading club, readers browsing in the small library room.

Troubled NYC tower sold for $265M


Gotham Organization and Carlyle Group recently bought the Aire, a 43-story, 310-unit luxury property on the Upper West Side of Manhattan in New York City, from A&R Kalimian Realty, according to the New York Post. A&R Kalimian Realty, which developed the building in 2013, was staring down the expiration of roughly $200 million in mortgage loans.

Political attack in tax assessor-collector race echoes Republican divide statewide

Fort Worth Report

An increasingly contentious Republican primary for a lesser-known Tarrant County position is highlighting dueling factions of the state's Republican Party. Incumbent Tax Assessor-Collector Wendy Burgess faces an intraparty challenge from former Tarrant County Republican Party Chair Rick Barnes.

District begins process to address funding shortfall

East Texas News

The Shepherd ISD Board of Managers approved a measure seeking answers to a funding shortfall that cropped up early this year. At its regular meeting on Thursday, board was made aware that after a state Comptroller's Office review of San Jacinto County Appraisal District's property valuations, there was a discrepancy that would mean Shepherd would receive less state aid.

Angelina County Tax Assessor ready to retire, endorses opponent


Billie Page has been an employee at the Angelina County Tax Office for 17 years and has served as Tax Assessor for eight. Now, at the age of 65, Page wants to retire, which is why she's endorsed Candidate Terri Collier. “It's time for me to step down and let someone younger and smarter and more energetic take over,” says Page.

Bill to replace property tax with sales tax dies in Wyoming House

Wyoming News

The House of Representatives voted 14-47 against House Bill 203, “Property tax reduction and replacement act,” on third reading Tuesday afternoon. In its initial form, HB 203 would have allowed for a property tax exemption for homeowners of up to $1 million in assessed value, and would have replaced that lost revenue with an additional 2 percentage points of statewide sales tax, increasing it from 4% to 6%.

House Makes Massive Changes To Blockbuster Wyoming Tax Relief Bill

Your Wyoming News Source

A blockbuster proposal that would've eliminated residential property tax for about 97% of Wyoming homeowners while hiking the state sales tax by 2% was slashed significantly on its second reading in the House on Monday. Rep. Steve Harshman's House Bill 203 has been one of the most talked-about this budget session, and Monday's changes will significantly soften it while lowering Wyoming's overall commitment to it.

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