Updates

Daily NAPTA Update 12.13. 2023

Posted by Diane Macri | Dec 13, 2023 | 0 Comments

NATIONAL
Macy's gets $5.8bn buyout bid amid struggles with online competition

Daily Mail

Macy's has received a $5.8bn buyout bid from an investor group valuing its shares at just $21 as the legacy bricks and mortar retailer struggles against online competition, a source has claimed. A group made up of Arkhouse Management and Brigade Capital has put in an offer to take the New York-based department store chain private, according to a person familiar with the matter. 

GEORGIA
Fulton property appraisal challenge could curtail developer tax breaks

AJC

The complicated way local governments provide property tax breaks to businesses and developers is facing a new challenge in Fulton County, which could upend a powerful business incentive that critics contend is too loosely granted and costs Georgia taxpayers hundreds of millions of dollars per year. The lawyer for a Fulton County resident contends the county's Board of Assessors isn't properly appraising properties subject to tax breaks granted by local development authorities, acting instead as a “rubber-stamp” for the deals.

TEXAS
76-year-old Celina man driving truck to pay sky-high property tax

wfaa.com

A 76-year-old Army veteran and former Dallas firefighter has unretired and is now driving a rock truck twice a week in Collin County to pay off a skyrocketing property tax bill for a meager piece of land in Celina that is too sentimental for him to let go. It's the dark side of the real estate boom in North Texas -- first showing up to Billy Pell's door in 2022. Pell gets straight to the point when you talk to him.

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