Daily NAPTA Update 04.03.2024

Posted by Diane Macri | Apr 03, 2024

Construction Spending Drops Unexpectedly In February As Public Projects Slow


Construction spending in the U.S. dipped unexpectedly in February after a slowdown in public construction projects, the Census Bureau reported Monday. Spending dropped 0.3% month-over-month in February despite an uptick in some residential projects, marking the second monthly decline in overall spending after a 0.2% drop in January.

Pent-Up Demand, Aging Population Refuel Pandemic-Ravaged Senior Housing Market


Investors bet billions and developers overbuilt in anticipation of baby boomers aging into the need for higher-level care only for coronavirus deaths to mount near the turn of the decade, bringing occupancy down to 77.8% by early 2021, The Wall Street Journal reported.

Has the Appellate Court of Maryland Disrupted the Tax Sale Market?


Real property tax certificate sales provide a way for taxing authorities to collect delinquent taxes without having to foreclose on properties and take ownership. When the purchaser of the tax sale certificate obtains the certificate, it pays the taxing authority the amount of delinquent taxes owed.

After Historic Boom, Warehouse Development In Greater Boston Falls By 80%


Greater Boston delivered a record amount of industrial space last year, punctuated by a massive five-story Amazon warehouse that completed in the fourth quarter. But now, the pandemic-era boom has begun to evaporate. The region had 1.2M SF in the industrial construction pipeline at the start of the year, 80% lower than one year earlier.

CLOSED UNTIL FURTHER NOTICE: Jackson County says ransomware attack has impacted tax systems, other offices


Several Jackson County, Missouri, offices are now closed until further notice due to "operational inconsistencies" officials believe are part of a potential ransomware attack. Jackson County officials announced Tuesday that employees have noted "significant disruptions" within the county's IT systems, potentially due to a ransomware attack.

Bill to cut property taxes limps ahead without sales tax hike

Nebraska Public Media

The Nebraska Legislature gave first-round approval Tuesday to a bill originally intended to increase sales taxes in order to lower property taxes. But its chief sponsor indicated that the sales tax increase is probably off the table, and if senators can't agree on an alternative, the bill won't come up again this year.

His Brownstone Is Worth $5.4 Million. Why Is His Tax Bill So Low?

New York Times

New York City is known for its pricey real estate, but some homeowners get an unexpected bargain: Property taxes on some of the fanciest, most coveted properties are often very low — at least relatively. The flip side? Renters and homeowners in lower-income neighborhoods end up carrying a lot of the burden.

Why Philly lawmakers are pushing to repeal this obscure Pa. tax rule


If a push for state tax reform is successful, the city of Philadelphia might be able to levy higher tax rates on more wealthy households and commercial buildings — but it's a long shot. A somewhat obscure sentence in the Pennsylvania Constitution written more than 150 years ago known as the uniformity clause requires all state and local taxes to have the same percentage for all properties and taxpayers.

How property tax caps push some WA counties to the financial edge


But lately, county leaders have been scrambling to pay their bills. They spent $700,000 in limited federal COVID relief dollars last year simply to try to keep the local judicial system afloat. They'd pulled money from dwindled reserves, raided the road levy fund and put off construction, all to make the budget balance one more year.

Here's how a tax settlement between Marshfield Clinic and the city of Marshfield impacts taxpayers

Marshfield News Herald

After a nearly three-year legal battle between Marshfield Clinic Health System and the city of Marshfield, an agreement has been reached. But, how the city will make up the loss of tax revenue agreed upon in the settlement is yet to be determined.

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