B.C. landowners lose bids to retain farm status after inspections reveal little-to-no agricultural activity
A pair of property owners in B.C. have lost their bids to have their land classified as farms after inspections revealed little-to-no agricultural activity was actually taking place. The province's Property Assessment Appeal Board, in separate decisions posted online last week, noted that there is a financial benefit to having a property classified as a farm.
Florida voters could offer significant property tax exemptions to Florida's teachers, firefighters, active-duty members of the U.S. military, and other specified professions, amid a relatively hostile housing market. But a well-meaning tax exemption may bring about other complications, such as a loss of local government tax revenue, according to a tax watchdog group.
The Boone County Commission's approval of a tax break for EquipmentShare under the state's Chapter 100 policy this fall brought into focus the detailed process for how county government holds businesses that receive public support accountable. The commission's approval secured a 75% break of county property tax for the company's proposed corporate campus to be built on its property on Bull Run Drive.
A nonprofit won't have to pay property taxes on a condominium unit it owns, even though the only current resident is the son of the organization's president, the New Jersey Tax Court ruled. Options Imagined, which provides support services to adults with intellectual and developmental disabilities, sought a property tax exemption for tax years 2020, 2021, and 2022.
Three lawsuits that challenged the Wagoner County Assessor's Office's valuation of an electric power generating company's tangible personal property — and at one point the legality of county ad valorem taxes on reservation land — have been settled. Oneta Power Inc. and the Wagoner County Assessor's Office agreed to the settlement, which was filed Wednesday in Wagoner County District Court and covers three lawsuits filed for each tax year challenged.
Daily Commercial News
Texas has been the beneficiary of outstanding economic and population growth for the past several decades. It isn't solely due to the attraction of a warm climate. Much is due to its tax regime. Employers in the state promote the complete absence of personal income tax to lure workers. Texas is one of only eight U.S. states with no personal income tax. In fact, it is banned under the Texas Constitution.
The tax break was passed with four votes in favor and one abstention from Commissioner Elba Garcia. Garcia said Nike's relative lack of diversity on its board and in senior roles was why she abstained. “I really think they lack, and they have a long way to go when it comes to diversity and inclusion,” she said.
Warren County real estate values jumped 40% in the four years since the last property assessment, an appraiser said on Tuesday. Fred Pearson, of Pearson Appraisal Service Inc., gave the Board of Supervisors an overall picture of the 2023 general reassessment his company conducted of residential and commercial properties in the county.