NATIONAL
Vape Shops Caught Fire Nationally. Now Regulations Could Smoke Them Out Of Existence
BisNow
Cities and towns across the country have watched a proliferation of vape shops waft across the landscape over the past half-decade, and Sugar Land, Texas, is no different. With about a dozen stores primarily selling electronic cigarettes and accessories, the city is part of a fast-moving retail trend that saw the number of electronic cigarette stores grow almost 20% annually between 2018 and 2023, not including vapes sold at gas stations and convenience stores.
Multifamily Completions Reach 50-Year High, Dropping Asking Rents To 2-Year Low
BisNow
Annualized multifamily completions as of August totaled 740,000 units, a 50-year high, according to a RealPage report. That is up 79% year-over-year as pent-up, pandemic-era supply is coming to the market. Those completions have flooded the market, pushing developers to drop rents amid the competition. Asking rents in new construction fell to $1,746 in the second quarter, down 6.2% from a year ago and the lowest level since 2022.
US Nonprofit Hospitals Received $37 Billion in Tax Breaks in 2021: Study
MedScape
Nonprofit hospitals in the United States received tax breaks worth $37.4 billion in 2021, subsidized partly by property taxes in surrounding communities, a new JAMA study reported. The findings are likely to renew the long-running debate over whether some large, consolidated health systems including medical groups and hospitals should continue to retain their nonprofit status.
ARIZONA
Voter proposition in Arizona would give tax refunds to property owners hit with homeless costs
Just The News
Arizona voters will have the opportunity to decide if property owners should be allowed to receive a property tax refund to cover “reasonable” costs accrued by unmitigated public nuisances related to homelessness, vandalism, property crime and drug use. The property owner - either commercial or residential - would need to document the expense and be able to prove that it was a direct result of the government failing to enforce relevant public nuisance laws.
NEBRASKA
‘It falls on deaf ears’: Lincoln homeowner frustrated over valuation protest
KLKN
A Lincoln homeowner is fighting to reduce his property value. Jason Loos lives near 9th and Van Dorn streets. He moved in about eight years ago and bought the house for just over $100,000. In the past five years, his property valuation has gone up by more than $50,000. His girlfriend, Carla Waldbaum, is the Realtor who sold him the house. The two of them worked together on a protest and successfully got the valuation reduced from $161,200 to $144,000.
NEW HAMPSHIRE
Plaintiffs Argue Rand Decision on Statewide Property Tax Should Stand
In Depth NH
In a brief filed Monday, the plaintiffs in the Rand education funding suit on appeal before the Supreme Court, say the superior court decision should stand as it follows past rulings, past practices and constitutional provisions. The case filed by property taxpayers Steven Rand and others, found the state's administration of the Statewide Education Property Tax was unconstitutional as it results in unequal effective tax rates across the state violating the constitutional provision of “proportional and reasonable taxation.”
NEW JERSEY
DCA Database Shows Top NJ Cities For PILOT Deals Where Developers Get Big Tax Breaks
Trenton Makes News
New Jersey's Capital City has the second-highest number of property tax exemptions in the state, according to spreadsheet published by the NJ Department of Community Affairs (DCA). Trenton was surpassed only by the state's largest city, Newark, which reported more than twelve times the number of exemptions as any other municipality, at least according to the new “DCA data hub.”
OHIO
Harley Dealership Property's Tax Valuation Upheld by Ohio Judges
Bloomberg Tax
The owner of a building rented to a Harley Davidson dealership failed to convince an Ohio appeals court Monday that a county auditor improperly raised the tax value of the property based on a recent sale. The Warren County Auditor upped the tax value of the property to $4.98 million for 2022 from the prior-year valuation of $2.17 million after Spirit Realty LP bought the property for $6 million.
TEXAS
TCAD okayed suing 23 property owners—and tried to conceal their names
The Austin Bulldog
Travis Central Appraisal District's Board of Directors on September 5th committed a blatant violation of the Texas Open Meetings Act (TOMA). The board voted 7-1 to countersue 23 Travis County property owners without disclosing their names. TCAD also failed to provide public notice by posting the property owners' names in the meeting agenda.
New Property Tax Law Interpretation Will Cost San Angelo Seniors Thousands
San Angelo Live
The Tom Green County Appraisal District is changing how it has handled property taxes for San Angelo retirement communities for the past 34 years. These changes could cost residents of these communities hundreds, if not thousands, of dollars annually. At the center of the issue are homestead exemptions for properties at Rio Concho West, 6359 Appaloosa Trail, off FM 2288; Rio Concho Patio Homes, 401 Rio Concho Dr.; and the Baptist Memorial Northgate homes at 903 N. Main St. Village East, 4054 Sul Ross, is also impacted.
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