About a hundred tenants from across the country, all living in units with federally-backed mortgages, occupied the headquarters of Starwood Capital Group in Washington, D.C. on Friday, wearing shirts that said “THE RENT IS TOO DAMN HIGH.” They unfurled a large banner that said, “Tenants are capable and willing to pay rent increases,” which is a paraphrased quote from the company's CEO.
Fifty is the new 25, at least when it comes to living alone. Why it matters: That's about the average age of a solo U.S. renter, according to the latest census data. Many young Americans are splitting steep rents that eat into their income. Meanwhile, more baby boomers have ditched homeownership for low-maintenance apartments.
Medical Center Wins Tax Appeal
Los Angeles Business Journal
A major medical center in Los Angeles has emerged victorious against a multi-million-dollar tax dispute against the county's assessor's office. The Los Angeles Downtown Medical Center, a hospital largely committed to serving the city's homeless and disadvantaged communities located at 1711 W Temple St. in Historic Filipinotown, acquired its property via a court ordered bankruptcy sale for $36 million in 2019.
The “mansion tax,” officially known as Measure ULA, which went into effect on April 1, imposes a significant additional cost on the sale of high-value properties. Homes selling for over $5 million now have an additional 4% tax, and those above $10 million incur a 5.5% tax. This measure, aimed at funding affordable housing and homelessness prevention, has added a layer of complexity for those looking to sell luxury properties.
A Fulton County agency is considering granting a more than $10 million property tax break to the social network belonging to the world's richest man — Elon Musk — an incentive for computers in an existing Atlanta data center that would create no new jobs. The Development Authority of Fulton County (DAFC) will consider the proposed tax break Tuesday for X Corp., formerly Twitter, that will reduce the company's tax bill over a 10-year period.
The former operators of a golf course may proceed with their challenge to more than $2.6 million in deferred taxes assessed after they sold the property to developers, the Minnesota Tax Court ruled. Hollydale Land LLC's challenge was timely because Hennepin County's reclassification of the property after the sale prompted a different deadline for suing than applies to typical property tax assessment appeals.
Julia Noland Obituary
Meredith-Nowell Funeral Home
Julia Lee Gist Noland, 82, passed away December 2, 2023, at Walter B. Crook Nursing Facility in Ruleville, Mississippi. A graveside service will be held December 5, 2023, 1:00 p.m., at Memorial Gardens Cemetery in Clarksdale, Mississippi. Meredith-Nowell Funeral Home is handling arrangements. She was born October 9, 1941, to Meadows Lee and Lillian Stutts Gist in Gunnison, Mississippi.
A religious institution was partially denied a property tax exemption under charitable use statutes because it didn't provide evidence that contested areas of the property were going to be used for exempt purposes, the Ohio Board of Tax Appeals said Monday. The property owner's trustee, Stephen Koob, didn't prove that the property's gift shop and food service area were used for charitable purposes.
It's an office now, but Stephanie Binder-Mullins can still see the kitchen. This was her childhood home. And where a wooden desk now collects papers, there used to be a washer and dryer. Where a refrigerator hums, there used to be a wood-burning stove. It's how her parents heated the house. Binder-Mullins knocks on one of the closets, marveling at the original wood. “It was always cold in here,” she says.
The Tennessee Court of Appeals Nov. 28 affirmed the Trial Court's appraised property tax valuation of Taxpayer's property. Taxpayer purchased a data center from AT&T as part of a sale-leaseback transaction, and the county assessor assessed the property based on that transaction.
Fort Worth Report
Wendy Burgess has filed for reelection as the Tarrant County tax assessor-collector. Burgess, a Republican, has served as the tax assessor-collector since 2019. The tax assessor-collector is responsible for calculating property tax rates, collecting property taxes and issuing car registrations and licenses.
My San Antonio
A Central Texas school district is trying to combat the price of living for its staff in an unorthodox way. Teachers in the Austin area could soon be living in a home owned by their employer. Austin Independent School District is hiring a company to build nearly 500 affordable housing units for teachers and school district staff.
Though the U.S. banking industry is still posting relatively strong net income as of the third quarter, past-due loans associated with CRE, especially office properties, represent a risk to the industry, Federal Deposit Insurance Corp. Chairman Martin Gruenberg said in a speech this week.
A Texas oil heir's quest to make Dallas a hub for biotech is showing signs of paying off, potentially paving the way for scientific discoveries ranging from reviving the woolly mammoth to treatments for cancer. Lyda Hill, the 81-year-old granddaughter of wildcatter H.L. Hunt, has funneled millions of philanthropic and investment dollars into developing the industry in her hometown.
The Carbon County Republican Party hosted an urgent session that preceded its central commission meeting last week. This was in regard to the recent concerns that have come to attention regarding Carbon County Assessor Gillan Bishop. Carbon County GOP Chair Tina Urbanik stated that many people requested that the party take a clear stance in regard to the issues.
For the second year in a row, the Spokane County Commission has voted against raising property taxes. Republican commissioners Josh Kerns, Al French and Mary Kuney on Tuesday voted against a 1% property tax increase for 2024. The decision will save the owner of a median home – $433,000 – about $3 next year. Democratic commissioners Chris Jordan and Amber Waldref voted in favor of taking the 1%.